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Jacob, a great economist. He is proposing a mode of supporting the poor, by compelling them to labour by military force, and under a species of military discipline. I see no objection to it, only it will make a rebellion to a certainty; and the tribes of Jacob will certainly cut Jacob's throat. Canning's conversion from popular opinions was strangely brought round.
John A. Hobson, a prominent economist and radical, shows that the purpose of the "New Liberalism" is the full development of "the productive resources of our land and labor," and denies that this broad purpose has anything to do with Socialist collectivism.
By this I mean, as defined by an economist, the custom of living so as to produce much and consume little. These people look upon life with severity. They have little sympathy with the expansive and exuberant life of the young. The men of the community, who are the producers, occupy a relatively greater position than the women, who are the consumers.
For example, it is a mere unwarranted assumption if the Antiquarian says, “Nothing has ever taken place but is to be found in historical documents;” or if the Philosophic Historian says, “There is nothing in Judaism different from other political institutions;” or if the Anatomist, “There is no soul beyond the brain;” or if the Political Economist, “Easy circumstances make men virtuous.” These are enunciations, not of Science, but of Private Judgment; and it is Private Judgment that infects every science which it touches with a hostility to Theology, a hostility which properly attaches to no science in itself whatever.
One easily recalls the almost reverent attitude of Adam Smith towards this system of industrial liberty which he exalted into a kind of natural theology: and the way in which Mill, a deist but not a Christian, was able to fit the whole apparatus of individual liberty into its place in an ordered universe. The world "runs of itself," said the economist. We have only to leave it alone.
But the feat is arduous and presupposes a variety of conditions which the President was unable to fulfil. His conception of Europe, for example, was much too simple. It has been aptly likened to that of the American economist who once remarked to the manager of an English railway: "You Britishers are handicapped by having to build your railway lines through cities and towns.
The economist replies, with the impassibility of destiny: You are condemned to produce much, and to produce cheaply; otherwise your industry will be always insignificant, your commerce will amount to nothing, and you will drag in the rear of civilization instead of taking the lead.
Glancing at her works, the modern critic would readily say that she was not a poetess, just as the student of political economy would dub Adam Smith a failure as an economist. A bright college freshman who has studied introductory economics can write a treatise as scientific as the Wealth of Nations. The student of history, however, must not "despise the day of small things."
Nature is a good economist, and utilizes the smallest trifle; she will use me too according to her need. She brings everything to its end and purpose in obedience to some rule and measure, and will so deal with me after I am dead; there is no waste.
The moderate attitude was stated in a manifesto signed by their leaders, headed by the eminent Indian economist Sir Dinshaw Wacha, which stated: "The proposed scheme forms a complicated structure capable of improvement in some particulars, especially at the top, but is nevertheless a progressive measure.
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