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Updated: June 26, 2025
When her political-economy tales were selling their best, the Government sent her word that on application she could have a pension of two hundred pounds a year for life. A pension of this kind comes nominally as a reward for excellent work or heroic service. But a pension may mean something else: it often implies that the receiver shall not offend nor affront the one that bestows it.
I went and confronted him, and asked to know his business, struggling all the time to keep a tight rein on my seething political-economy ideas, and not let them break away from me or get tangled in their harness. And privately I wished the stranger was in the bottom of the canal with a cargo of wheat on top of him. I was all in a fever, but he was cool.
"Why, any student of political economy will tell you we could not live without it. Lacking a common measure of value, we " "So it has always been held by students when answering political-economy papers," he interrupted impatiently. "Yet I dreamt once of a land where the currency was called in, and the morning stars sang together." "But the exchange of commodities " I began.
I went and confronted him, and asked to know his business, struggling all the time to keep a tight rein on my seething political-economy ideas, and not let them break away from me or get tangled in their harness. And privately I wished the stranger was in the bottom of the canal with a cargo of wheat on top of him. I was all in a fever, but he was cool.
This was called production for profit, but the political-economy class the other morning showed us that production for profit was economic suicide, tending inevitably, by limiting the consuming power of a community, to a fractional part of its productive power to cripple production in turn, and so to keep the mass of mankind in perpetual poverty.
For it was a disaster quite without parallel in the history of the land, and entirely unforeseen by any of its political-economy writers who, on the contrary, were always anticipating that danger would arise from an excess of population overrunning its means of subsistence, and becoming unmanageable through its size.
The boys and girls of the political-economy class rose to their feet at the teacher's word of dismissal, and in the twinkling of an eye the scene which had been absorbing my attention disappeared, and I found myself staring at Dr. Leete's smiling countenance and endeavoring to imagine how I had come to be where I was.
The political-economy Premier then enunciates this principle: "Any attempt to feed one class of the people of the United Kingdom by the Government, would, if successful, starve another part would feed the producers of potatoes, which had failed, by starving the producers of wheat, barley, and oats, which had not failed."
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