Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy — John Stuart Mill — John Shaqi
Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
Italian writers have not received hitherto the attention they deserve.
After 1830, besides Rossi, who went to France, there was Romagnosi, who
dealt more with the relations of economics to other studies; Cattanes, who
turned to rural questions and free trade (combating the German, List);
Scialoja, at the University of Turin; and Francesco Ferrara, also at Turin
from 1849 to 1858. The latter was a follower of Bastiat and Carey, as
regards value and rent, and at the same time was a radical believer in
_laissez-faire_. Since the union of Italy there has been a new interest in
economic study, as with us after our war. The most eminent living Italian
economist is said to be Angelo Messedaglia, holding a chair at Padua since
1858. He has excelled in statistical and financial subjects, and is now
engaged on a treatise on money, “Moneta,” of which one part has been
issued (1882). Marco Minghetti and Fedele Lampertico stand above others,
the former for a study of the connection of political economy with morals,
and for his public career as a statesman; the latter for his studies on
paper money and other subjects. Carlo Ferrais presented a good monograph
on “Money and the Forced Currency” (1879); and Boccardo issued a library
of selected works of the best economists, and a large Dictionary of
Political Economy, “Dizionario universale di Economia Politica e di
Commercio” (2 vols., second edition, 1875). Luigi Luzzati is a vigorous
advocate of co-operation; and Elia Lattes has made a serious study of the
early Venetian banks.
Political economy has gained little from American writers. Of our
statesmen none have made any additions to the science, and only Hamilton
and Gallatin can properly be called economists. Hamilton, in his famous
“Report on Manufactures” (1791), shared in some of the erroneous
conceptions of his day; but this paper, together with his reports on a
national bank and the public credit, are evidences of a real economic
power. Gallatin’s “Memorial in Favor of Tariff Reform” (1832) is as able
as Hamilton’s report on manufactures, and a strong argument against
protection. Both men made a reputation as practical financiers.