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Political Economy

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Published: 1880
Language: English
Wordcount: 45,458 / 134 pg
Flesch-Kincaid Reading Ease: 61.2
LoC Categories: JC, HJ
Downloads: 1,620
Added to site: 2010.07.22 28497
Genre: Politics

There can be no doubt that it is most desirable to disseminate knowledge of the truths of political economy through all classes of the population by any means which may be available. From ignorance of these truths arise many of the worst social evilsódisastrous strikes and lockouts, opposition to improvements, improvidence, destitution, misguided charity, and discouraging failure in many well-intended measures.

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ll not labour, in such a way as #to turn the natural riches into wealth#. On the other hand, people like the Dutch live upon very poor bits of land, and yet become wealthy by skill, industry and providence. The fact is that wealth is more due to labour and ingenuity than to a good soil or climate; but all these things are needed in order that people shall become as rich as the inhabitants of England, France, the United States, or Australia.

#5. What is Wealth?# Nassau Senior, one of the best writers on political economy, defined #wealth# in these words: #Under that term we comprehend all those things, and those things only, which are transferable, are limited in supply, and are directly or indirectly productive of pleasure, or preventive of pain.# It is necessary to understand, in the first place, exactly what Senior meant. According to him, whatever is comprehended under wealth must have three distinct qualities, and whatever has these three qualities must be a part of wealth. If these qualities are r



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