United States or Angola ? Vote for the TOP Country of the Week !
Those exports consist almost exclusively of raw, or, to use Adam Smith's word, of rude produce; and where this is the case Mr. M'Culloch's principle will not hold without large modifications. Mr. Senior saw this, and, in dealing with Irish Absenteeism he modifies the principle accordingly.
Ponsonby perceived that the Earl had become inspired with a deadly terror of the handsome stepdaughter; for he turned aside and began to unpack a parcel. It was M'Culloch's Natural Theology, into which Louis had once dipped at Mr. Calcott's, and had expressed a wish to read it.
When, therefore, the man whom they had long marked out as the first object of their vengeance, appeared in their midst, they made almost superhuman efforts to acquire possession of his person. The fleetness of M'Culloch's well-trained steed was scarcely greater than that of his enemies, who, with flying strides, moved on in pursuit.
See Sir G. Nicholls's History of the Poor-law, 1854. A new edition, with life by H. G. Willink, appeared in 1898. History, i. 175. M'Culloch's note to Wealth of Nations, p. 65. M'Culloch in his appendix makes some sensible remarks upon the absence of any properly constituted parochial 'tribunal. Wealth of Nations, bk. i. ch. x. See passage quoted in Eden's History, i. 347. Nicholls , ii. 14.
M'Culloch had an inviting opportunity of exposing its unsoundness in the edition of The Wealth of Nations edited by him; and in fact he has written an elaborate note on the passage, but, as it seems to me, without proving the doctrine which it enunciates to be incorrect. Here is the portion of Mr. M'Culloch's footnote which deals with the subject: "Dr.
M'Culloch's, who says, with regard to this passage, "it would really seem that in this, as in some other things, the universality and intensity of belief has been directly as the folly and falsehood of the thing believed." It was in his examination in 1825, before a Parliamentary Committee, that Mr. M'Culloch put forward his views on Irish Absenteeism.
M'Culloch's proposition, quoted above, but with the qualifying clause "which does not export raw produce." I have italicised this clause because it contains the very exception which makes the general proposition inapplicable to Ireland, and to every country whose chief exports are, like Ireland's, raw produce. To use the words of Mr.
With the greatest respect for Mr. M'Culloch's skill as a political economist, this proposition has neither been established nor conceded in the unlimited sense in which he here puts it forward.
See Torrens's Production of Wealth, p. 208; and M'Culloch's Political Economy , p. 294, where he admits some exceptions. External Corn-trade, p. 87, etc. Ibid. p. 67. Political Economy , p. 329. Production of Wealth, p. 34, etc. Political Economy , p. 318. M'Culloch's Political Economy, p. 290. Preface to External Corn-trade. Ibid. p. 95. Political Economy , pp. 313-18.
This is generally cited as the first statement of the 'wage-fund' theory, to which I shall have to return. I need not pursue these illustrations of the awkward results of excessive zeal in a disciple. It is worth noticing, however, that M'Culloch's practical conclusions are not so rigid as might be inferred.
Word Of The Day