The Forgotten Man, and Other EssaysSumner, William Graham
Science
The Forgotten Man, and Other Essays
Sumner, William Graham
Economics; Social sciences
2. Of course it follows that success in the production of wealth under
this modern system depends primarily on the correctness with which
men learn the character of economic forces and of the laws under
which those forces act. This is the field of the science of political
economy, and it is the reason why it is a science. It investigates
the laws of forces which are natural, not arbitrary, artificial, or
conventional. Some communities have developed a great hatred for
persons who held different religious opinions from themselves. Such a
feeling would be a great social force, but it would be arbitrary and
artificial. Many communities have held that all labor, not mental, was
slavish and degrading. This notion, too, was conventional, but it was
a great social force where it existed. Such notions, either past or
present, are worth studying for historical interest and instruction,
but they do not afford the basis for a science whose object is to find
out what is true in regard to the relations of man to the world in
which he lives. The study of them throws a valuable sidelight on the
true relations of human life, just as the study of error always throws
a sidelight upon the truth, but they have no similarity to the law
that men want the maximum of satisfaction for the minimum of effort,
or to the law of the diminishing return from land, or to the law of
population, or to the law of supply and demand. Nothing can be gained,
therefore, by mixing up history and science, valuable as one is to the
other. If men try to carry on any operation without an intelligent
theory of the forces with which they are dealing, they inevitably
become the victims of the operation, not its masters. Hence they always
do try to form some theory of the forces in question and to plan the
means to the end accordingly. The forces of nature go on and are true
only to themselves. They never swerve out of pity for innocent error
or well-intentioned mistakes. This is as true of economic forces as of
any others. What is meant by a good or a bad investment, except that
one is based on a correct judgment of forces and the other on incorrect
judgment? How would sagacity, care, good judgment, and prudence meet
their reward if the economic forces swerved out of pity for error? We
know that there is no such thing in the order of nature.
Public-domain text, read in full here on John Shaqi.
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