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Review: Principles of Political EconomyUser Review - P. - Goodreads
Essential, although I think I like reading Bastiat more (both in French and in translation). Read full review
Review: Principles of Political EconomyUser Review - Jessica - Goodreads
Good heavens what a slog. But, it's done now. Important intellectual history, and all that jazz. Four stars because it's more readable than most of its ilk. This particular edition is the 1865, if that concerns you. Read full review
accumulation Adam Smith advantage agricultural amount Bank of England capitalist cause circulating capital circumstances cloth commodities competition condition consequence consumed cost of production crease cultivation currency dealers degree demand depend diminished duce duction effect employed employment enable England equal equivalent exchange exertion exist expense exports farmer farms favourable foreign France Germany greater habits human hundred quarters important improvement increase industry interest labouring class land landlord laws of value less limited linen manufacture material means ment metals metayer mode modities nations natural necessary obtained operations paid payment peasant permanent persons political economy population portion possession present principle produce proportion proprietors purchase quantity racter rate of profit remuneration rent rise saving society soil subsistence sufficient sumers supply suppose things tion tivation trade unproductive value of money wages wealth whole
Page 570 - The only case in which, on mere principles of political economy, protecting duties can be defensible, is when they are imposed temporarily (especially in a young and rising nation) in hopes of naturalizing a foreign industry, in itself perfectly suitable to the circumstances of the country.
Page 589 - Now any well-intentioned and tolerably civilized government may think without presumption that it does or ought to possess a degree of cultivation above the average of the community which it rules, and that it should, therefore, be capable of offering better education and better instruction to the people, than the greater number of them would spontaneously select. Education, therefore, is one of those things which it is admissible in principle that a government should provide for the people.
Page 86 - But though they were very poor, and therefore but indifferently accommodated with the necessary machinery, they could, when they exerted themselves, make among them about twelve pounds of pins in a day.
Page 128 - The niggardliness of nature, not the injustice of society, is the cause of the penalty attached to overpopulation. An unjust distribution of wealth does not aggravate the evil, but, at most, causes it to be somewhat earlier felt. It is in vain to say that all mouths which the increase of mankind calls into existence bring with them hands. The new mouths require as much food as the old ones, and the hands do not produce as much.
Page 245 - Compute in any particular place, what is likely to be annually gained, and what is likely to be annually spent, by all the different workmen in any common trade, such as that of shoemakers or weavers, and you will find that the former sum will generally exceed the latter. But make the same computation with regard to all the counsellors and students of law, in all the different inns of court, and you will find that their annual gains bear but a very small proportion to their annual expense, even though...
Page 195 - It could never, however, be the interest even of this last species of cultivators, to lay out, in the further improvement of the land, any part of the little stock which they might save from their own share of the produce, because the lord, who laid out nothing, was to get one half of whatever it produced.
Page 467 - Most fitting, indeed, is it, that while riches are power, and to grow as rich as possible the universal object of ambition, the path to its attainment should be open to all, without favor or partiality.
Page 67 - Capital which in this manner fulfils the whole of its office in the production in which it is engaged, by a single use, is called circulating capital.
Page 243 - Honour makes a great part of the reward of all honourable professions. In point of pecuniary gain, all things considered, they are generally under-recompensed, as I shall endeavour to show by and by.
Page 468 - It is only in the backward countries of the world that increased production is still an important object: in those most advanced, what is economically needed is a better distribution, of which one indispensable means is a stricter restraint on population.
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