The Principles of Economics, with Applications to Practical ProblemsFetter, Frank A. (Frank Albert)
General
The Principles of Economics, with Applications to Practical Problems
Fetter, Frank A. (Frank Albert)
Economics
Moreover, with the growth of the modern state, with the interest
increasing importance of business, and of industrial and commercial
interests, as compared with changes of dynasty or the personal rivalries
of rulers, economic questions have grown in relative importance. In our
own country, particularly since the subjects of slavery and of States'
rights ceased to absorb the attention of our people, economic questions
have pushed rapidly into the foreground. Indeed, it has of late been
more clearly seen that many of the older political questions, such as
the American Revolution and slavery, formerly discussed almost entirely
in their political and constitutional aspects, were at bottom questions
of economic rivalry and of economic welfare. The remarkable increase in
the attention given to this study in colleges and universities in the
last twenty years is but the index of the greatly increased interest and
attention felt in it by citizens generally.
To sum up, it may be said that in the study of political economy we are
seeking the reason, connection, and relations in the great multitude of
acts arising out of the dependence of desires on the world of things and
men.
CHAPTER 2
ECONOMIC MOTIVES
§ I. MATERIAL WANTS, THE PRIMARY ECONOMIC MOTIVES
[Sidenote: Feeling urges to economic actions]
1. _A logical explanation of industry must begin with a discussion of
the nature of wants, for the purpose of industry is to gratify wants._
An economic want may be defined as a feeling of incompleteness, because
of the lack of a part of the outer world or of some change in it. Often
the question asked when one first sees a moving trolley car or
automobile or bicycle is: What makes it go? The first question to ask in
the part of the study of economic society here undertaken is: What is
its motive force? Without an answer to that question one cannot hope to
understand the ceaseless and varied activities of men occupied in the
making of a living. The question merits long and careful study, but the
general answer is so simple that it seems almost self-evident: The
motive force in economics is found in the feelings of men. It is men's
desire to make use of men and things about them which calls forth all
the manifold phenomena studied in economics.
[Sidenote: Animal species shaped by their environment]
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