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
2. _The economic progress of society has been marked by decreasing
dependence on the bounties and chances of nature and by increasing
control of natural forces by man._ Various stages of progress in human
history have been recognized. First is the stage of _appropriation_--the
stage of hunting, or of fishing, or of gathering fruits. Man in this
stage is still an animal in his economic methods, not guiding and
controlling nature, but merely gathering what nature chances to bring
forth. The limitations to man's powers in this stage are marked. There
is excess of supply and waste at one season, scarcity and great
suffering at another. With such crude utilization of the bounties of
nature, a vast area will support but a small population. When sheep and
cattle have been domesticated, and where there is a large area for
grazing, industry rises to the _pastoral_ stage. While still dependent
on nature's bounties for the feeding of his cattle, man is hourly
intervening to increase, regulate, and improve the supply of food and
materials. Famines are more rare, economic welfare is greater, a greater
population is nourished on the same area. The _agricultural_ stage
begins whenever man plants seeds, trims, tends, and increases by his
care the supply of vegetable food. This is a still greater intervention
in the course of nature. Man anticipates the future, directs forces, and
groups materials to his purpose of getting a regular food-supply. He is
thus himself forced into settled life, begins hand-production, and
makes the first steps in commerce. Then gradually comes the _industrial_
stage, in which control over nature grows, supplies increase, machinery
and motive forces are utilized, and humanity is in the full tide of
industrial development. These are not sharply marked changes, but
throughout all there is a growth of security, of certainty, and of
productivity. With man's increasing power and foresight, chance is
lessened, for directing energy takes its place.
[Sidenote: Increasing importance of skilled organization and direction]
[Sidenote: The source of American enterprise]
Public-domain text, read in full here on John Shaqi.
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