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Updated: October 29, 2025
The inferior quality of wage-work, the terrible waste of human energy in modern agricultural and industrial labour, the ever-growing quantity of pleasure-seekers, who shift their burden on to others' shoulders, the absence of a certain animation in production that is becoming more and more apparent; all this is beginning to preoccupy the economists of the "classical" school.
He carried on a correspondence with all manner of people, including Washington, Eldon, Catholic bishops in Ireland, financiers and agriculturists on the Continent, and the most active economists in England. He suggested a subject for a poem to Scott. He wrote pamphlets about cash-payments, Catholic Emancipation, and the Reform Bill, always disagreeing with all parties.
The connection of Roland with philosophers and economists who formed the practical party of philosophy, his necessary intercourse with influential members of the Assembly, his literary tastes, and, above all, the attraction and natural temptation which drew and retained eminent men around a young, eloquent, and impassioned woman, soon made the salon of Madame Roland an ardent, though not as yet noted, focus of the Revolution.
Well, sophist! monopolist or speculator, what matters the name, if you admit the thing? Such quotations would fill volumes. But the object of this treatise is not to set forth the contradictions of the economists and to wage fruitless war upon persons. Our object is loftier and worthier: it is to unfold the System of Economical Contradictions, which is quite a different matter.
I am utterly astonished that so few people seem to read Spencer, and the utter ignorance there seems to be among politicians and political economists of the grand views and logical stability of his works. He appears to me as far ahead of John Stuart Mill as J.S.M. is of the rest of the world, and, I may add, as Darwin is of Agassiz. The range of his knowledge is no less than its accuracy.
Economists consider that the material advance of a people is measured more accurately by the consumption of iron than by any other single article. Assuming this to be a test, the progress of the American people in wealth is beyond precedent. The production and use of iron between the years 1861 and 1881 were many fold greater than during the entire preceding century.
Another obvious application of the same principle will enable us to explain, and to bring within the dominion of strict science, the rivality of one exporting nation and another, or what is called, in the language of the mercantile system, underselling: a subject which political economists have taken little trouble to elucidate, from the habit before alluded to of disregarding almost entirely, in their purely scientific inquiries, those circumstances which affect the trade of a country by operating immediately upon the exports.
Should the effete monarchies of the Old World ever deign to glance at our civil polity, they will learn that taxation is the only sure and certain cure for pauperism, and we may soon look for their political economists to render thanks to the "friends" of the former slave for this discovery of a specific for the most ancient of governmental ills!
These strange arguments were supplemented by the economists, always a powerful body in this utilitarian land, and they urged that, as men could not be prevented from destroying themselves, if they had made up their minds to do so, they might just as well shuffle off the mortal coil in the way that would give least trouble to their surviving fellow-citizens.
This principle is universally practised in business, and is regarded as an axiom by the economists. Manufacturers, also, who have the advantage of being proprietors of their floating capital, although they owe no interest to any one, in calculating their profits subtract from them, not only their running expenses and the wages of their employees, but also the interest on their capital.
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