Four Introductory Lectures on Political Economy: Delivered Before the University of Oxford |
Other editions - View all
Common terms and phrases
acquired or produced Adam Smith applied Aristotle art of government art of Political ascer branch causes civilised commodities confines wealth consider creased Cuba definition of wealth depend diminish distribution of wealth draw their premises economist effects endeavours England errors exportation fact favourable gold and silver habits most conducive Hans Hemling human happiness human mind hypothesis hypothetical important increase infer inquiry knowledge labour land Laputa laws of matter laws which regulate Lecture less limited in supply MAGDALEN COLLEGE mankind material means of enjoyment ment mental sciences merely mode moral national debt nature New-street-Square objects of desire obtained occasion physical poor law portion possessor precepts principles purpose qualities Quesnay reasoning regulate the production rent respect result Ricardo science of Political scientific supposed teacher things tical tion trade treat Political Economy treatise Turgot UNIVERSITY OF OXFORD wages wealth consists Wealth of Nations word wealth writer
Popular passages
Page 50 - Political Economy considers mankind as occupied solely in acquiring and consuming wealth, and aims at showing what is the course of action into which mankind, living in a state of society, would be impelled, if that motive, except in the degree in which it is checked by the two perpetual counter-motives above adverted to, were
Page 32 - proposal, namely, to define Political Economy as " the art which points out the institutions and habits most conducive to the production and accumulation of wealth." As incidental to the art, he was forced to examine the science, and a considerable portion of his work consists of inquiries into the laws which regulate the production and
Page 29 - For the great mischief which this realm suffereth, and long hath done, for that gold and silver are carried out of the realm, so that, in effect, there is none thereof left, which thing, if it should longer be suffered, would shortly be the destruction of the same realm, which God prohibit;
Page 35 - that every system which endeavours, either by extraordinary encouragements, to draw towards a particular species of industry a greater share of the capital of the society than
Page 32 - thing necessary for supplying the wants of the society, and to employ the inhabitants in such a manner as naturally to create reciprocal relations and dependencies between them, so as to make their several interests lead them to supply one another with their reciprocal wants.
Page 32 - in such a manner as naturally to create reciprocal relations and dependencies between them, so as to make their several interests lead them to supply one another with their reciprocal wants.
Page 33 - proposed definition, that is to say, " on the institutions and habits most conducive to that production, accumulation, and distribution of wealth, which is most favourable to the happiness of mankind; " but they contain much more. Quesnay and his followers lived in a country subject to political institutions, of which many were mischievous, more were imperfect, and all were unsettled.
Page 27 - therefore, of Political Economy, represent either purely mental ideas, such as demand, utility, value, and abstinence, or objects which, though some of them may be material, are considered by the political economist so far only as they are the results or the causes of certain affections of the human mind, such as wealth, capital, rent, wages, and profits.
Page 35 - state of knowledge, this could be done only by proving that many of them mistook the nature of wealth, and all of them the laws according to which it is produced and distributed. The scientific portion of his work is merely an introduction to that which is practical.
Page 62 - the different significations which have been given to it. It is enough to say at present that I use it in its popular acceptation, as signifying in anything the quality which fits it to be given and received in exchange, or, in other words, to be let or sold, hired or purchased.