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It is thought, indeed, that from the era of mythology to the present year 57 of our great revolution, the general welfare has improved: Christianity has long been regarded as the chief cause of this amelioration, but now the economists claim all the honor for their own principles. For after all, they say, what has been the influence of Christianity upon society?
It did not fall within the limited scope of such an essay as Sir Henry Maine's to trace the leading ideas of the Social Contract to the various sources from which they had come, but his account of these sources is, even for its scale, inadequate. Portions of Rousseau's ideas, he says truly, may be discovered in the speculations of older writers; and he mentions Hobbes and the French Economists.
Some economists will at once argue that if prices are unprofitable to the farmer the situation will correct itself by diminished production and, consequently, a general rise in the world level of prices.
Do not let them spoil the Forest. Do not let horrid grinding-down economists, for the sake of saving a few pounds or gaining a few pounds, alter and destroy scenes that are so beautiful and a delight to so many. England is a rich country, is she not? Surely she can afford to keep something for her painters and her poets, and even for the humble holiday-folks who come to drink tea at Rufus's stone.
J.R. M'Culloch, maintain that, by the principles of economic science, Absenteeism is no evil at all. Apart altogether from the views of political economists, there are certain evils which result from Absenteeism. 1.
In the financial and social chaos that followed the invasion by "loyal" hordes, rushing under "sealed orders" on the mission of "Reconstruction," and eminently successful in "reconstructing" their individual fortunes, an anomaly presented itself for the consideration of political economists.
Besides, in support of their thesis in favour of private property against all other forms of possession, should not the economists demonstrate that under the form of communal property land never produces such rich harvests as when the possession is private? But this they could not prove; in fact, it is the contrary that has been observed.
It was well that sound and sober-minded economists now guided the action of the government, and that Liverpool proved himself a worthy successor of Sir Robert Walpole during the great financial crisis of 1825. The speculative frenzy of 1825 differed from the railway mania of the next generation in that it had no solid basis of remunerative investment.
The economists, with that simplicity of honest folk which they have inherited from their elders and which even today is all that stands to their credit, have taken no pains to see that the progressional theory of the tax, which they point out to governments as the ne plus ultra of a wise and liberal administration, was contradictory in its terms and pregnant with a legion of impossibilities.
Machinery, industrial liberty, political democracy these three things represent the basis of the progress of the nineteenth century. The chief exposition of the system is found in the work of the classical economists Adam Smith and his followers of half a century who created the modern science of political economy.
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