His influence may not count for less because it is widely diffused and often almost invisible. He contributed Edition: current; Page: [ xvi ] to the general stream of economic thought and humanitarian progress, and that is doubtless what he would have wished for himself. It may be even yet too early to assign Dr.
Ingram his final position, but that he has a firm place in the history of modern economic thought cannot be doubted. Modern political economy owes him a debt of gratitude. To many English economists he may have seemed like a rebel, and there were, and perhaps are, those who might feel that he attacked too severely the leaders of English economic thought. In some directions he may have gone too far; but he was engaged in a struggle, and to those looking upon this struggle from a considerable distance of time and place, it seems that the struggle was a necessary one.
Also, he helped to advance economics by bringing the economic thought of England out of a certain unfortunate narrowness and isolation. The economists of the world are now working together more closely and helpfully than ever before, Ingram occupies a not inconspicuous position among those helping to bring about this world-wide co-operation. Perhaps it also may be said that Ingram in attacking Smithianism and Ricardianism—and in particular Ricardianism—has helped to give the world the true Adam Smith and the true Ricardo.
Economists have now been able to separate the great English writers from the myths which have been associated with their names. Even yet the Ricardo myth exercises here and there an influence which is a real obstacle in the way of reform. A curious illustration of this was furnished by the hearings before the Committee of the House of Commons on enclosures in when the question under discussion was the order for the enclosure of the Elmstone-Hardwicke open arable fields near Cheltenham in Gloucestershire.
Very satisfactory arrangements had been made for the enclosure and every farmer concerned was eager to have the enclosure made. The present writer knows from personal conversation that apparently there was no difference of opinion among them. The conditions were such as to discourage Edition: current; Page: [ xvii ] all good farming, and every farmer knew that enclosure would benefit him.
Yet Ricardianism showed itself in the Committee as an obstacle to enclosure. The truth was, however, that under actual conditions the rent to be paid by the farmers would not be raised in proportion to the increase in the economic rent. In fact, under actual English conditions there was even reason to believe that the farmers and not the landowners would be the first to receive the benefits resulting from improved agricultural conditions, following upon enclosure.
Now there is nothing contrary to the teaching of Ricardo in all this, but certain forces which he neglected to consider were also overlooked in the committee hearing. Ingram has helped to make modern political economy in England and elsewhere more realistic. While the Ricardo myth is not so forceful an evil now as when Ingram gave his address in , it still persists here and there. In this connection it is interesting to read Dr.
It is hoped and believed that the present revised edition of Ingram's History of Political Economy brought down to date by the additional chapter written by Professor William A. Scott, will continue and enlarge Dr. Ingram's great work. It renews our sense of obligation to this leader who fought the good fight. New generations of students will find in this work instruction and inspiration.
In the present condition of Political Economy, the production of new dogmatic treatises on the subject does not appear to be opportune. But there exists in England and other countries widespread dissatisfaction with that system, and much difference of opinion with respect both to the method and the doctrines of Economic Science. There is, in fact, good reason to believe that this department of social theory has entered on a transition stage, and is destined ere long to undergo a considerable transformation.
But the new body of thought which will replace, or at least profoundly modify, the old, has not yet been fully elaborated. The attitude of mind which these circumstances seem to prescribe is that of pause and retrospection. It is thought that our position will be rendered clearer and our further progress facilitated by tracing historically, and from a general point of view, the course of speculation regarding economic phenomena, and contemplating the successive forms of opinion concerning them in relation to the periods at which they were respectively evolved.
And this is the task undertaken in the following pages. Such a study is in harmony with the best intellectual tendencies of our age, which is, more than anything else, Edition: current; Page: [ 2 ] characterised by the universal supremacy of the historical spirit. To such a degree has this spirit permeated all our modes of thinking, that with respect to every branch of knowledge, no less than with respect to every institution and every form of human activity, we almost instinctively ask, not merely what is its existing condition, but what were its earliest discoverable germs, and what has been the course of its development?
The assertion of J. Say 1 that the history of Political Economy is of little value, being for the most part a record of absurd and justly exploded opinions, belongs to a system of ideas already obsolete, and requires at the present time no formal refutation. We need concern ourselves only with those modes of thinking which have prevailed largely and seriously influenced practice in the past, or in which we can discover the roots of the present and the future.
When we thus place ourselves at the point of view of history, it becomes unnecessary to discuss the definition of Political Economy, or to enlarge on its method, at the outset. It will suffice to conceive it as the theory of social wealth, or to accept provisionally Say's definition, which makes it the science of the production, distribution, and consumption of wealth. Any supplementary ideas which require to be taken into account will be suggested in the progress of our survey, and the determination of the proper method of economic research will be treated as one of the principal results of the historical evolution of the science.
The history of Political Economy must of course be distinguished from the economic history of mankind, or of any separate portion of our race. The study of the succession of Edition: current; Page: [ 3 ] economic facts themselves is one thing; the study of the succession of theoretic ideas concerning the facts is another. And it is with the latter alone that we are here directly concerned. But these two branches of research, though distinct, yet stand in the closest relation to each other.
The rise and the form of economic doctrines have been largely conditioned by the practical situation, needs, and tendencies of the corresponding epochs. With each important social change new economic questions have presented themselves; and the theories prevailing in each period have owed much of their influence to the fact that they seemed to offer solutions of the urgent problems of the age.
Again, every thinker, however in some respects he may stand above or before his contemporaries, is yet a child of his time, and cannot be isolated from the social medium in which he lives and moves. He will necessarily be affected by the circumstances which surround him, and in particular by the practical exigencies of which his fellows feel the strain. This connection of theory with practice has its advantages and its dangers. It tends to give a real and positive character to theoretic inquiry; but it may also be expected to produce exaggerations in doctrine, to lend undue prominence to particular sides of the truth, and to cause transitory situations or temporary expedients to be regarded as universally normal conditions.
There are other relations which we must not overlook in tracing the progress of economic opinion. The several branches of the science of society are so closely connected that the history of no one of them can with perfect rationality be treated apart, though such a treatment is recommended—indeed necessitated—by practical utility.
The movement of economic thought is constantly and powerfully affected by the prevalent mode of thinking, and even the habitual tone of sentiment, on social subjects generally. All the intellectual manifestations of a period in relation to human questions have a kindred character, and bear a certain stamp of homogeneity, which is vaguely present to our minds when we speak of the spirit of the age.
Social Edition: current; Page: [ 4 ] speculation again, and economic research as one branch of it, is both through its philosophic method and through its doctrine under the influence of the sciences which in the order of development precede the social, especially of the science of organic nature. It is of the highest importance to bear in mind these several relations of economic research both to external circumstance and to other spheres of contemporary thought, because by keeping them in view we shall be led to form less absolute and therefore juster estimates of the successive phases of opinion.
Instead of merely praising or blaming these according to the degrees of their accordance with a predetermined standard of doctrine, we shall view them as elements in an ordered series, to be studied mainly with respect to their filiation, their opportuneness, and their influences. We shall not regard each new step in this theoretic development as implying an unconditional negation of earlier views, which often had a relative justification, resting, as they did, on a real, though narrower, basis of experience, or assuming the existence of a different social order.
Nor shall we consider all the theoretic positions now occupied as definitive; for the practical system of life which they tacitly assume is itself susceptible of change, and destined, without doubt, more or less to undergo it. Within the limits of a sketch like the present these considerations cannot be fully worked out; but an effort will be made to keep them in view, and to mark the relations here indicated wherever their influence is specially important or interesting. The particular situation and tendencies of the several thinkers whose names are associated with economic doctrines have, of course, modified in a greater or less degree the spirit or form of those doctrines.
Their relation to special predecessors, their native temperament, their early training, their religious prepossessions and political partialities, have all had their effects. To these we shall in some remarkable instances direct attention; but, in the main, they are, for our present purpose, secondary and subordinate.
The ensemble must preponderate over the individual; and the Edition: current; Page: [ 5 ] constructors of theories must be regarded as organs of a common intellectual and social movement. The history of economic inquiry is most naturally divided into the three great periods of 1 the ancient, 2 the mediaeval, and 3 the modern worlds. In the two former, this branch of study could exist only in a rudimentary state. It is evident that for any considerable development of social theory two conditions must be fulfilled. First, the phenomena must have exhibited themselves on a sufficiently extended scale to supply adequate matter for observation, and afford a satisfactory basis for scientific generalisations; and secondly, whilst the spectacle is thus provided, the spectator must have been trained for his task, and armed with the appropriate aids and instruments of research, that is to say, there must have been such a previous cultivation of the simpler sciences as will have both furnished the necessary data of doctrine and prepared the proper methods of investigation.
Sociology requires to use for its purposes theorems which belong to the domains of physics and biology, and which it must borrow from their professors; and, on the logical side, the methods which it has to employ—deductive, observational, comparative—must have been previously shaped in the cultivation of mathematics and the study of the inorganic world or of organisms less complex than the social. Hence it is plain that, though some laws or tendencies of society must have been forced on men's attention hi every age by practical exigencies which could not be postponed, and though the questions thus raised must have received some empirical solution, a really scientific sociology must be the product of a very advanced stage of intellectual development.
And this is true of the economic, as of other branches of social theory. We shall therefore content ourselves with a general outline of the character of economic thought in antiquity and the Middle Ages, and of the conditions which determined that character.
The earliest surviving expressions of thought on economic subjects have come down to us from the Oriental theocracies. The general spirit of the corresponding type of social life consisted in taking imitation for the fundamental principle of education, and consolidating nascent civilisation by heredity of the different functions and professions, or even by a system of castes, hierarchically subordinated to each other according to the nature of their respective offices, under the common supreme direction of the sacerdotal caste. This last was charged with the traditional stock of conceptions, and their application for purposes of discipline.
It sought to realise a complete regulation of human life in all its departments on the basis of this transmitted body of practical ideas. Conservation is the principal task of this social order, and its most remarkable quality is stability, which tends to degenerate into stagnation. The leading members of the corporations which presided over the theocracies without doubt gave much earnest thought to the conduct of industry, which, unlike war, did not imperil their political pre-eminence by developing a rival class.
But, conceiving life as a whole, and making its regulation their primary aim, they naturally considered most the social reactions which industry is fitted to exercise. The moral side of economics is the one they habitually contemplate, Edition: current; Page: [ 7 ] or what is not the same the economic side of morals.
They abound in those warnings against greed and the haste to be rich which religion and philosophy have in all ages seen to be necessary. They insist on honesty in mutual dealings, on just weights and measures, on the faithful observance of contracts. They admonish against the pride and arrogance apt to be generated by riches, against undue prodigality and self-indulgence, and enforce the duties of justice and beneficence towards servants and inferiors.
Whilst, in accordance with the theological spirit, the personal acquisition of wealth is in general thesis represented as determined by divine wills, its dependence on individual diligence and thrift is emphatically taught. There is indeed in the fully developed theocratic systems a tendency to carry precept, which there differs little from command, to an excessive degree of minuteness—to prescribe in detail the time, the mode, and the accompaniments of almost every act of every member of the community.
This system of exaggerated surveillance is connected with the union, or rather confusion, of the spiritual and temporal powers, whence it results that many parts of the government of society are conducted by direct injunction or restraint, which at a later stage are intrusted to general intellectual and moral influences.
The practical economic enterprises of Greek and Roman antiquity could not, even independently of any special adverse influences, have competed in magnitude of scale or variety of resource with those of modern times. The unadvanced condition of physical science prevented a large application of the less obvious natural powers to production, or the extensive use of machinery, which has acquired such an immense development as a factor in modern industry.
The imperfection of geographical knowledge and of the means of communication and transport were impediments to the growth of foreign commerce. These obstacles arose necessarily out of the mere immaturity of the industrial life of the periods in question. But more deeply rooted impediments to a vigorous and expansive economic practical Edition: current; Page: [ 8 ] system existed in the characteristic principles of the civilisation of antiquity.
Some writers have attempted to set aside the distinction between the ancient and modern worlds as imaginary or unimportant, and, whilst admitting the broad separation between ourselves and the theocratic peoples of the East, to represent the Greeks and Romans as standing on a substantially similar ground of thought, feeling, and action with the Western populations of our own time.
But this is a serious error, arising from the same too exclusive pre-occupation with the cultivated classes and with the mere speculative intellect which has often led to an undue disparagement of the Middle Ages. There is this essential difference between the spirit and life of ancient and of modern communities, that the former were organised for war, the latter during their whole history have increasingly tended to be organised for industry, as their practical end and aim.
The profound influence of these differing conditions on every form of human activity must never be overlooked or forgotten. With the military constitution of ancient societies the institution of slavery was essentially connected. Far from being an excrescence on the contemporary system of life, as it was in the modern West Indies or the United States of America, it was so entirely in harmony with that life that the most eminent thinkers regarded it as no less indispensable than inevitable.
It does, indeed, seem to have been a temporary necessity, and on the whole, regard being had to what might have taken its place, a relative good. But it was attended with manifold evils. It led to the prevalence amongst the citizen class of a contempt for industrial occupations; every form of production, with a partial exception in favour of agriculture, was branded as unworthy of a free man—the only noble forms of activity being those directly connected with public life, whether military or administrative. Labour was degraded by the relegation of most departments of it to the servile class, above whom the free artisans were but little elevated in general esteem.
The producers being thus for the most part destitute of intellectual cultivation and excluded from any share in civic Edition: current; Page: [ 9 ] ideas, interests, or efforts, were unfitted in character as well as by position for the habits of skilful combination and vigorous initiation which the progress of industry demands.
To this must be added that the comparative insecurity of life and property arising out of military habits, and the consequent risks which attended accumulation, were grave obstructions to the formation of large capitals, and to the establishment of an effective system of credit. These causes conspired with the undeveloped state of knowledge and of social relations in giving to the economic life of the ancients the limitation and monotony which contrast so strongly with the inexhaustible resource, the ceaseless expansion, and the thousandfold variety of the same activities in the modern world.
It is, of course, absurd to expect incompatible qualities in any social system; each system must be estimated according to the work it has to do. This office was, however, reserved for Rome, as the final result of her system of conquest; the military activity of Greece, though continuous, was incoherent and sterile, except in the defence against Persia, and did not issue in the accomplishment of any such social mission. It was, doubtless, the inadequacy of the warrior life, under these conditions, to absorb the faculties of the race, that threw the energies of its most eminient members into the channel of intellectual activity, and produced a singularly rapid evolution of the aesthetic, philosophic, and scientific germs transmitted by the theocratic societies.
In the Works and Days of Hesiod, we find an order af thinking in the economic sphere very similar to that of the theocracies. With a recognition of the divine disposing power, and traditional rules of sacerdotal origin, is combined Edition: current; Page: [ 10 ] practical sagacity embodied in precept or proverbial saying. But the development of abstract thought, beginning from the time of Thales, soon gives to Greek culture its characteristic form, and marks a new epoch in the intellectual history of mankind.
The movement was now begun, destined to mould the whole future of humanity, which, gradually sapping the old hereditary structure of theological convictions, tended to the substitution of rational theories in every department of speculation. The eminent Greek thinkers, while taking a deep interest in the rise of positive science, and most of them studying the only science—that of geometry—then assuming its definitive character, were led by the social exigencies which always powerfully affect great minds to study with special care the nature of man and the conditions of his existence in society.
These studies were indeed essentially premature; a long development of the inorganic and vital sciences was necessary before sociology or morals could attain their normal constitution. But by their prosecution amongst the Greeks a noble intellectual activity was kept alive, and many of those partial lights obtained for which mankind cannot afford to wait. Economic inquiries, along with others, tended towards rationality; Plutus was dethroned, and terrestrial substituted for supernatural agencies.
But such inquiries, resting on no sufficiently large basis of practical life, could not attain any considerable results. The military constitution of society, and the existence of slavery, which was related to it, leading, as we have seen, to a low estimate of productive industry, turned away the habitual attention of thinkers from that domain.
On the other hand, the absorption of citizens in the life of the state, and their pre-occupation with party struggles, brought questions relating to politics, properly so called, into special prominence. The principal writers on social subjects are therefore almost exclusively occupied with the examination and comparison of political constitutions, and with the search after the education best adapted to train the citizen for public functions. And we find, accordingly, in them no Edition: current; Page: [ 11 ] systematic or adequate handling of economic questions— only some happy ideas and striking partial anticipations of later research.
In their thinking on such questions, as on all sociological subjects, the following general features are observable. Every eminent social speculator had his ideal state, which approximated to or diverged from the actual or possible, according to the degree in which a sense of reality and a positive habit of thinking characterised the author.
The most celebrated of these ideal systems is that of Plato. In it the idea of the subordination of the individual to the state appears in its most extreme form. Within that class of the citizens of his republic who represent the highest type of life, community of property and of wives is established, as the most effective means of suppressing the sense of private interest, and consecrating the individual entirely to the public service. It cannot perhaps be truly said that his scheme was incapable of realisation in an ancient Edition: current; Page: [ 12 ] community favourably situated for the purpose.
But it would soon be broken to pieces by the forces which would be developed in an industrial society. It has, however, been the fruitful parent of modern Utopias, specially attractive as it is to minds in which the literary instinct is stronger than the scientific judgment, in consequence of the freshness and brilliancy of Plato's exposition and the unrivalled charm of his style. Mixed with what we should call the chimerical ideas of his work, there are many striking and elevated moral conceptions, and, what is more to our present purpose, some just economic analyses. In particular, he gives a correct account of the division and combination of employments, as they naturally arise in society.
The foundation of the social organization he traces, perhaps, too exclusively to economic grounds, not giving sufficient weight to the disinterested social impulses in men which tend to draw and bind them together. But he explains clearly how the different wants and capacities of individuals demand and give rise to mutual services, and how, by the restriction of each to the sort of occupation to which, by his position, abilities, and training, he is best adapted, everything needful for the whole is more easily and better produced or effected.
In the spirit of all the ancient legislators he desires a self-sufficing state, protected from unnecessary contacts with foreign populations, which might tend to break down its internal organisation or to deteriorate the national character. Hence he discountenances foreign trade, and with this view removes his ideal city to some distance from the sea.
The limits of its territory are rigidly fixed, and the population is restricted by the prohibition of early marriages, by the exposure of infants, and by the maintenance of a determinate number of individual lots of land in the hands of the citizens who cultivate the soil. These precautions are inspired more by political and moral motives than by the Malthusian fear of failure of subsistence.
Plato aims, as far as possible, at equality of property amongst the families of the community which are engaged in the immediate prosecution of industry. This last class, as distinguished from the governing and military classes, he Edition: current; Page: [ 13 ] holds, according to the spirit of his age, in but little esteem; he regards their habitual occupations as tending to the degradation of the mind and the enfeeblement of the body, and rendering those who follow them unfit for the higher duties of men and citizens.
The lowest forms of labour he would commit to foreigners and slaves. Again, in the spirit of ancient theory, he wishes Legg. All economic dealings he subjects to active control on the part of the Government, not merely to prevent violence and fraud, but to check the growth of luxurious habits, and secure to the population of the state a due supply of the necessaries and comforts of life.
Contrasted with the exaggerated idealism of Plato is the somewhat limited but eminently practical genius of Xenophon. In him the man of action predominates, but he has also a large element of the speculative tendency and talent of the Greek. His treatise entitled Economicus is well worth reading for the interesting and animated picture it presents of some aspects of contemporary life, and is justly praised by Sismondi for the spirit of mild philanthropy and tender piety which breathes through it.
But it scarcely passes beyond the bounds of domestic economy, though within that limit its author exhibits much sound sense and sagacity. His precepts for the judicious conduct of private property do not concern us here, nor his wise suggestions for the government of the family and its dependents. Yet it is in this narrower sphere and in general in the concrete domain that his chief excellence lies; to economics in their wider aspects he does not contribute much. He shares the ordinary preference of his fellow-countrymen for agriculture over other employments, and is, indeed, enthusiastic in his praises of it as promoting patriotic and religious feeling and a respect for property, as furnishing the best preparation for military life, and as leaving sufficient time and thought disposable to admit of considerable intellectual and political Edition: current; Page: [ 14 ] activity.
Yet his practical sense leads him to attribute greater importance than most other Greek writers to manufactures, and still more to trade, to enter more largely on questions relating to their conditions and development, and to bespeak for them the countenance and protection of the state. Though his views on the nature of money are vague, and in some respects erroneous, he sees that its export in exchange for commodities will not impoverish the community.
He also insists on the necessity, with a view to a flourishing commerce with other countries, of peace, of a courteous and respectful treatment of foreign traders, and of a prompt and equitable decision of their legal suits. The institution of slavery he of course recognises and does not disapprove; he even recommends, for the increase of the Attic revenues, the hiring out of slaves by the state for labour in the mines, after branding them to prevent their escape, the number of slaves being constantly increased by fresh purchases out of the gains of the enterprise.
De Vect. Mathematical and astronomical science was largely developed at a later stage, but in the field of social studies no higher point was ever attained by the Greeks than is reached in the writings of this great thinker Both his gifts and his situation eminently favoured him in the treatment of these subjects.
He combined in rare measure a capacity for keen observation with generalising power, and sobriety of judgment with ardour for the public good. All that was original or significant in the political life of Hellas had run its course before his time or under his own eyes, and he had thus a large basis of varied experience on which to ground his conclusions. Standing outside the actual movement of contemporary public life, he occupied the position of thoughful spectator and impartial judge.
He could not, indeed, for reasons already stated, any more than other Greek speculators, attain a fully normal attitude in these researches. Nor could he pass beyond the sphere of what is now called Edition: current; Page: [ 15 ] statical sociology; the idea of laws of the historical development of social phenomena he scarcely apprehended, except in some small degree in relation to the succession of political forms.
But there is to be found in his writings a remarkable body of sound and valuable thoughts on the constitution and working of the social organism The special notices of economic subjects are neither so numerous nor so detailed as we should desire. Like all the Greek thinkers, he recognises but one doctrine of the state, under which ethics, politics proper, and economics take their place as departments, bearing to each other a very close relation, and having indeed their lines of demarcation from each other not very distinctly marked. When wealth comes under consideration, it is studied not as an end in itself, but with a view to the higher elements and ultimate aims of the collective life.
The origin of society he traces, not to economic necessities, but to natural social impulses in the human constitution. The nature of the social union, when thus established, being determined by the partly spontaneous partly systematic combination of diverse activities, he respects the independence of the latter whilst seeking to effect their convergence. He therefore opposes himself to the suppression of personal freedom and initiative, and the excessive subordination of the individual to the state, and rejects the community of property and wives proposed by Plato for his governing class.
The principle of private property he regards as deeply rooted in man, and the evils which are alleged to result from the corresponding social ordinance he thinks ought really to be attributed either to the imperfections of our nature or to the vices of other public institutions. Community of goods must, in his view, tend to neglect of the common interest and to the disturbance of social harmony.
Of the several classes which provide for the different wants of the society, those who are occupied directly with its material needs—the immediate cultivators of the soil, the mechanics and artificers—are excluded from any share in the government of the state, as being without the necessary leisure and cultivation, and apt to be debased by the nature Edition: current; Page: [ 16 ] of their occupations.
In a celebrated passage he propounds a theory of slavery, in which it is based on the universality of the relation between command and obedience, and on the natural division by which the ruling is marked off from the subject race. This view, so shocking to our modern sentiment, is of course not personal to Aristotle; it is simply the theoretic presentation of the facts of Greek life, in which the existence of a body of citizens pursuing the higher culture and devoted to the tasks of war and government was founded on the systematic degradation of a wronged and despised class, excluded from all the higher offices of human beings and sacrificed to the maintenance of a special type of society.
The methods of economic acquisition are divided by Aristotle into two, one of which has for its aim the appropriation of natural products and their application to the material uses of the household; under this head come hunting, fishing, cattle-rearing, and agriculture. But its development on the great scale, founded on the thirst for enjoyment and the unlimited desire of gain, he condemns as unworthy and corrupting.
Though his views on this subject appear to be principally based on moral grounds, there are some indications of his having entertained the erroneous opinion held by the physiocrats of the eighteenth century, that agriculture alone with the kindred arts above joined with it is truly productive, Edition: current; Page: [ 17 ] whilst the other kinds of industry, which either modify the products of nature or distribute them by way of exchange, however convenient and useful they may be, make no addition to the wealth of the community.
He rightly regards money as altogether different from wealth, illustrating the difference by the story of Midas. And he seems to have seen that money, though its use rests on a social convention, must be composed of a material possessing an independent value of its own. That his views on capital were indistinct appears from his famous argument against interest on loans, which is based on the idea that money is barren and cannot produce money.
Like the other Greek social philosophers, Aristotle recommends to the care of Governments the preservation of a due proportion between the extent of the civic territory and its population, and relies on ante-nuptial continence, late marriages, and the prevention or destruction of births for the due limitation of the number of citizens, the insufficiency of the latter being dangerous to the independence and its superabundance to the tranquillity and good order of the state.
Notwithstanding the eminently practical, realistic, and utilitarian character of the Romans, there was no energetic exercise of their powers in the economic field; they developed no large and many-sided system of production and exchange. Their historic mission was military and political, and the national energies were mainly devoted to the public service at home and in the field. To agriculture, indeed, much attention was given from the earliest times, and on it was founded the existence of the hardy population which won the first steps in the march to universal dominion.
But in the course of their history the cultivation of the soil by a native yeomanry gave place to the introduction, in great numbers, of slave labourers acquired by their foreign conquests; and for the small properties of the earlier period were substituted the vast estates—the latifundia —which, in Edition: current; Page: [ 18 ] the judgment of Pliny, were the ruin of Italy. Their ideas on these as on other social questions were for the most part borrowed from the Greek thinkers. Such traces of economic thought as do occur are to be found in 1 the philosophers, 2 the writers de re rustica, and 3 the jurists.
It must, however, be admitted that many of the passages in these authors referred to by those who assert the claim of the Romans to a more prominent place in the history of the science often contain only obvious truths or vague generalities. This sentiment, both in these writers and in the poetry and miscellaneous literature of their times, is accompanied by a half-factitious enthusiasm for agriculture and an exaggerated estimate of country life and of early Roman habits, which are principally, no doubt, to be regarded as a form of protest against existing abuses, and, from this point of view, remind us of the declamations of Rousseau in a not dissimilar age.
Edition: current; Page: [ 19 ] But there is little of larger or just thinking on the prevalent economic evils and their proper remedies. Pliny, still further in the spirit of Rousseau, is of opinion that the introduction of gold as a medium of exchange was a thing to be deplored, and that the age of barter was preferable to that of money. He expresses views on the necessity of preventing the efflux of money similar to those of the modern mercantile school— views which Cicero also, though not so clearly, appears to have entertained.
Cato, Varro, and Columella concern themselves more with the technical precepts of husbandry than with the general conditions of industrial success and social well-being. But the two last named have the great merit of having seen and proclaimed the superior value of free to slave labour, and Columella is convinced that to the use of the latter the decline of the agricultural economy of the Romans was in a great measure to be attributed.
These three writers agree in the belief that it was chiefly by the revival and reform of agriculture that the threatening inroads of moral corruption could be stayed, the old Roman virtues fostered, and the foundations of the commonwealth strengthened. Their attitude is thus similar to that of the French physiocrats invoking the improvement and zealous pursuit of agriculture alike against the material evils and the social degeneracy of their time.
The question of the comparative merits of the large and small systems of cultivation appears to have been much discussed in the old Roman, as in the modern European world; Columella is a decided advocate of the petite culture. The jurists were led by the coincidence which sometimes takes place between their point of view and that of economic science to make certain classifications and establish some more or less refined distinctions which the modern economists have either adopted from them or used independently.
They appear also though this has been disputed, Neri and Carli maintaining the affirmative, Pagnini the negative to have had correct notions of the nature of money as having a value of its own, determined by economic conditions, and incapable of being impressed upon it by convention or arbitrarily Edition: current; Page: [ 20 ] altered by public authority. But in general we find in these writers, as might be expected, not so much the results of independent thought as documents illustrating the facts of Roman economic life, and the historical policy of the nation with respect to economic subjects.
From the latter point of view they are of much interest; and by the information they supply as to the course of legislation relating to property generally, to sumptuary control, to the restrictions imposed on spendthrifts, to slavery, to the encouragement of population, and the like, they give us much clearer insight than we should otherwise possess into influences long potent in the history of Rome and of the Western world at large. But, as it is with the more limited field of systematic thought on political economy that we are here occupied, we cannot enter into these subjects.
One matter, however, ought to be adverted to, because it was not only repeatedly dealt with by legislation, but is treated more or less fully by all Roman writers of note, namely, the interest on money loans. The rate was fixed by the laws of the Twelve Tables; but lending on interest was afterwards b. In the legislation of Justinian, rates were sanctioned varying from four to eight per cent, according to the nature of the case, the latter being fixed as the ordinary mercantile rate, whilst compound interest was forbidden.
The Roman theorists, almost without exception, disapprove of lending on interest altogether. Quid hominem occidere? It is not difficult to see how in early states of society the trade of money-lending becomes, and not unjustly, the object of popular odium; but that these writers, at a period when commercial enterprise had made considerable progress, should continue to reprobate it argues very imperfect or confused ideas on the nature and functions of capital. It is probable that practice took little heed either of these speculative ideas or of legislation on the subject, which experience shows can always be easily evaded.
The traffic in money Edition: current; Page: [ 21 ] seems to have gone on all through Roman history, and the rate to have fluctuated according to the condition of the market. Looking back on the history of ancient economic speculation, we see that, as might be anticipated a priori, the results attained in that field by the Greek and Roman writers were very scanty. This we have already pointed out with respect to their treatment of the subject of population, and the same may be seen in the case of the doctrine of the division of labour, with which Plato and Aristotle are in some degree occupied.
They regard that principle as a basis of social classification, or use it in showing that society is founded on a spontaneous co-operation of diverse activities. From the strictly economic point of view, there are three important propositions which can be enunciated respecting that division:— 1 that its extension within any branch of production makes the products cheaper; 2 that it is limited by the extent of the market; and 3 that it can be carried further in manufactures than in agriculture.
But we shall look in vain for these propositions in the ancient writers; the first alone might be inferred from their discussions of the subject. It has been the tendency especially of German scholars to magnify unduly the extent and value of the contributions of antiquity to economic knowledge. The Greek and Roman authors ought certainly not to be omitted in any account of the evolution of this branch of study. But it must be kept steadily in view that we find in them only first hints or rudiments of general economic truths, and that the science is essentially a modern one.
We shall indeed see hereafter that it could not have attained its definitive constitution before our own time. The Middle Ages — a. They represent a vast transition, in which the germs of a new world were deposited, but in which little was fully elaborated.
Passions d'été - Harlequin
There is scarcely anything in the later movement of European society which we do not find there, though as yet, for the most part, crude and undeveloped. The mediaeval period was the object of contemptuous depreciation on the part of the liberal schools of the last century, principally because it contributed so little to literature. But there are things more important to mankind than literature; and the great men of the Middle Ages had enough to do in other fields to occupy their utmost energies. The development of the Catholic institutions and the gradual establishment and maintenance of a settled order after the dissolution of the Western empire absorbed the powers of the thinkers and practical men of several centuries.
The first mediaeval phase, from the commencement of the fifth century to the end of the seventh, was occupied with the painful and stormy struggle towards the foundation of the new ecclesiastical and civil system; three more centuries were filled with the work of its consolidation and defence against the assaults of nomad populations; only in the final phase, during the eleventh, twelfth, and thirteenth centuries, when the unity of the West was founded by the collective action against impending Moslem invasion, did it enjoy a sufficiently secure and stable existence to exhibit its essential character and produce its noblest personal types.
The elaboration of feudalism was, indeed, Edition: current; Page: [ 23 ] in progress during the whole period, showing itself in the decomposition of power and the hierarchical subordination of its several grades, the movement being only temporarily suspended in the second phase by the salutary dictatorship of Charlemagne.
But not before the first century of the last phase was the feudal system fully constituted. In like manner, only in the final phase could the effort of Catholicism after a universal discipline be carried out on the great scale— an effort for ever admirable, though necessarily on the whole unsuccessful. No large or varied economic activity was possible under the full ascendency of feudalism. That organisation, as has been abundantly shown by philosophical historians, was indispensable for the preservation of order and for public defence, and contributed important elements to general civilization.
But, whilst recognizing it as opportune and relatively beneficent, we must not expect from it advantages inconsistent with its essential nature and historical office. The class which predominated in it was not sympathetic with industry, and held the handicrafts in contempt, except those subservient to war or rural sports. The whole practical life of the society was founded on territorial property; the wealth of the lord consisted in the produce of his lands and the dues paid to him in kind; this wealth was spent in supporting a body of retainers whose services were repaid by their maintenance.
There could be little room for manufactures, and less for commerce; and agriculture was carried on with a view to the wants of the family, or at most of the immediate neighbourhood, not to those of a wider market.
The economy of the period was therefore simple, and, in the absence of special motors from without, unprogressive. In the latter portion of the Middle Ages several circumstances came into action which greatly modified these conditions. The Crusades undoubtedly produced a powerful economic effect by transferring in many cases the possessions of the feudal chiefs to the industrious classes, whilst by bringing different nations and races into contact, by enlarging Edition: current; Page: [ 24 ] the horizon and widening the conceptions of the populations, as well as by affording a special stimulus to navigation, they tended to give a new activity to international trade.
The independence of the towns and the rising importance of the burgher class supplied a counterpoise to the power of the land aristocracy; and the strength of these new social elements was increased by the corporate constitution given to the urban industries, the police of the towns being also founded on the trade guilds, as that of the country districts was on the feudal relations. The increasing demand of the towns for the products of agriculture gave to the prosecution of that art a more extended and speculative character; and this again led to improved methods of transport and communication.
But the range of commercial enterprise continued everywhere narrow, except in some favoured centres, such as the Italian republics, in which, however, the growth of the normal habits of industrial life was impeded or perverted by military ambition, which was not, in the case of those communities, checked as it was elsewhere by the pressure of an aristocratic class. Every great change of opinion on the destinies of man and the guiding principles of conduct must react on the sphere of material interests; and the Catholic religion had a powerful influence on the economic life of the Middle Ages.
Christianity inculcates, perhaps, no more effectively than the older religions the special economic virtues of industry, thrift, fidelity to engagements, obedience to rightful authority; but it brought out more forcibly and presented more persistently the higher aims of life, and so produced a more elevated way of viewing the different social relations. It purified domestic life, a reform which has the most important economic results. It taught the doctrine of fundamental human equality, heightened the dignity of labour, and preached with quite a new emphasis the obligations of love, compassion, and forgiveness, and the claims of the poor.
The constant presentation to the general mind and conscience of these ideas, the dogmatic bases of which were scarcely as yet assailed by scepticism, must have had a powerful Edition: current; Page: [ 25 ] effect in moralising life. But to the influence of Christianity as a moral doctrine was added that of the Church as an organization, charged with the application of the doctrine to men's daily transactions. Besides the teachings of the sacred books, there was a mass of ecclesiastical legislation providing specific prescriptions for the conduct of the faithful.
And this legislation dealt with the economic as with other provinces of social activity.
Here is Clearing
In the Corpus Juris Canonici, which condenses the result of centuries of study and effort, along with much else is set out what we may call the Catholic economic theory, if we understand by theory, not a reasoned explanation of phenomena, but a body of ideas leading to prescriptions for the guidance of conduct. Life is here looked at from the point of view of spiritual well-being; the aim is to establish and maintain amongst men a true kingdom of God. In cases of need the public authority is justified in re-establishing pro hac vice the primitive community.
The care of the poor is not a matter of free choice; the relief of their necessities is debitum legale Avaritia is idolatry; cupiditas, even when it does not grasp at what is another's, is the root of all evil, and ought to be not merely regulated but eradicated. He must not conceal the faults of his merchandise, nor take advantage of the need or ignorance of the buyer to obtain from him more than the fair price.
Interest on money is forbidden; the Edition: current; Page: [ 26 ] prohibition of usury is, indeed, as Roscher says, the centre of the whole canonistic system of economy, as well as the foundation of a great part of the ecclesiastical jurisdiction. The question whether a transaction was or was not usurious turning mainly on the intentions of the parties, the innocence or blameworthiness of dealings in which money was lent became rightfully a subject of determination for the Church, either by her casuists or in her courts. The foregoing principles point towards a noble ideal, but by their ascetic exaggeration they worked in some directions as an impediment to industrial progress.
Thus, whilst, with the increase of production, a greater division of labour and a larger employment of borrowed capital naturally followed, the laws on usury tended to hinder this expansion. Hence they were undermined by various exceptions, or evaded by fictitious transactions. These laws were in fact dictated by, and adapted to, early conditions—to a state of society in which money loans were commonly sought either with a view to wasteful pleasures or for the relief of such urgent distress as ought rather to have been the object of Christian beneficence.
But they were quite unsuited to a period in which capital was borrowed for the extension of enterprise and the employment of labour. The absolute theological spirit in this, as in other instances, could not admit the modification in rules of conduct demanded by a new social situation; and vulgar good sense better understood what were the fundamental conditions of industrial life.
When the intellectual activity previously repressed by the more urgent claims of social preoccupations tended to revive towards the close of the mediaeval period, the want of a rational appreciation of the whole of human affairs was felt, and was temporarily met by the adoption of the results of the best Greek speculation. Hence we find in the writings of St. Thomas Aquinas the political and economic doctrines of Aristotle reproduced with a partial infusion of Christian elements. His adherence to his Edition: current; Page: [ 27 ] master's point of view is strikingly shown by the fact that he accepts at least if he is the author of the De Regimine Principum 1 the Aristotelian theory of slavery, though by the action of the forces of his own time the last relics of that institution were being eliminated from European society.
This great change—the enfranchisement of the working classes—was the most important practical outcome of the Middle Ages. The first step in this movement was the transformation of slavery, properly so called, into serfdom. The latter was, by its nature, a transitory condition. The serf was bound to the soil, had fixed domestic relations, and participated in the religious life of the society; and the tendency of all his circumstances, as well as of the opinions and sentiments of the time, was in the direction of liberation. This issue was, indeed, not so speedily reached by the rural as by the urban workman.
Already in the second phase serfdom is abolished in the cities and towns, whilst agricultural serfdom does not anywhere disappear before the third. The latter revolution is attributed by Adam Smith to the operation of selfish interests, that of the proprietor on the one hand, who discovered the superior productiveness of cultivation by free tenants, and that of the sovereign on the other, who, jealous of the great lords, encouraged the encroachments of the villeins on their authority.
But that the Church deserves a share of the merit seems beyond doubt—moral impulses, as often happens, conspiring with political and economic motives. The serfs were treated best on the ecclesiastical estates, and the members of the priesthood, both by their doctrine and by their situation since the Northern conquests, were constituted patrons and guardians of the oppressed or subject classes.
Out of the liberation of the serfs rose the first lineaments of the hierarchical constitution of modern industry in the separation between the entrepreneurs and the workers.
The personal enfranchisement of the latter, stimulating activity Edition: current; Page: [ 28 ] and developing initiative, led to accumulations, which were further promoted by the establishment of order and good government by the civic corporations which grew out of the enfranchisement.
Thus an active capitalist class came into existence. It appeared first in commerce, the inhabitants of the trading cities importing expensive luxuries from foreign countries, or the improved manufactures of richer communities, for which the great proprietors gladly exchanged the raw produce of their lands. Bredouille, que signifie votre postscriptum? A wild goose chase too? Diiingue, non? Quel artiste a votre admiration? Pourquoi cet imparfait lamidinsky? Par bonheur, Alechinsky est toujours en vie, enfin Pierre Alechinski, le peintre, pour les autres Alechinski je ne sais pas….
Martin, vous ne devez pas avoir les bonnes lunettes …. Apocalypse garantie et fin du Monde ….
- Aston University.
- Rame dans la rame?
- Lhomme imaginaire: Essai sur limagination (Ouverture Philosophique) (French Edition).
Tant pis pour lui,… mais il a les moyens. Aussi Bonnard et Rouault. Et quelques autres. Je vous rejoins.
Pour quelque? Quant au brave papi rhinomorphe de Ghirlandaio, il va sans dire que son abandon est accidentel…. Un petit bijou. Enfin, comment ne pas succomber devant ce retour aux routses?.. Heu… Vos illusions sur quoi? Cet artiste,…etc. Le papier monnaie aussi. Et toc! Du fait de la pollution, elles deviennent un peu plus rares mais restent assez communes dans nos ruisseaux. Chapeau, la Phasme-Artiste!
Mon premier? Partie du corps. Mon deux? Mon trois? Particule des corps. Mon tout? P… de balises! Pour TRS qui aime les affreuse bestioles.. Et pour tous, bien entendu, cette petite devinette. Apprenez pour votre gouverne, Ph. Chose promise …. Un grand gosse! TRS Excusez mon retard. Allez les vers! Je suis en retard … Il faut faire vite … Bon! Je refais un essai.
Crop tonneau. Non mais des fois. Tiens, Lebanni avait raison : des bad thrips, il y en a partout. Mais les miens, ils aiment les fleurs bleues. Comme quoi, hein, praecox ejaculatio humanum est….
A History of Political Economy - Online Library of Liberty
Pas moi!!! Et je vous remercie encore. Ave Martin! Faites-nous plaisir, descendez de ce train, vous en prendrez un plus tard, et allons boire un verre au buffet de la gare. Si vous en avez assez du gris-de-Toul, on trouvera bien autre chose. Un si discret merci… pourquoi? Vamos Caballero, un abrazo, y vaya con Dios. Top chrono! Prenez soin de vous. Bien affectueusement. Merci Gus! Comment dire…? Quoi dire…? Je ne voulais pas partir sur la pointe des pieds sans dire merci. Encore merci. Au revoir. Bon sang de bonsoir!
Vous me voyez venir avec mes tiags? Faut que vous parle. Mais que dire de son auteur? Bah… Pas de quoi vous donner du taf, Gus! TRS je replace un commentaire hautement subsversif qui aura subi pas moins de trois torpillages. Bonsoir Mini et coll. Mauvais joueur, va! H mycologue. Perdons pas le colis! Vous avez mal lu! Qui a la rame lamidum? Ces images dormaient depuis ans ou ans dans un livre. Certainement pas! Deux auteurs, MM.
En toute innocence. Ne vous avisez jamais de traiter une faucille de tordue, il pourrait vous en cuire! Elle chantait bien, nous reprenions le refrain. Ils jouaient de la guitare, moi de la batterie; elle? Est-ce quelque chose de scato le rapport avec le jonc? Lo siento mucho, pero sono molto ocupato ahora casi tuto il tempo , per que le cose de la escuela de italiano, estan no facile. Alors, pour en finir avec la dame blanche je vous propose une Lady in black. Et si un jour elle vient vers vous, buvez ses paroles si sages, puisez-y votre courage, et dites-lui bonjour de ma part!
And if one day she comes to you, drink deeply from her words so wise Take courage from her as your prize and say hello for me. Euh… comparaison etc. A voir ici. Bonjour MiniPhasme et merci. Bien pratique. Attendons la confirmation. Sur le buffet, quatre poissons rouges dans un bocal. Lebanni : vous ne trichez pas? Encore des bravisaux le pluriel de pluriel de bravo. Juin 99, il se casse le poignet droit et le 4 octobre, il se suicide. Buffet …. Mais je ne sais pas pourquoi. Et vous, le savez-vous? Aber, which one?
Je viens de trouver ici le portrait auquel je pensais hier soir, et en effet, toujours pas de poissons rouges. Presque tout le reste y est pourtant. Pas loin de Bacon dites-vous? Avez-vous le shining aussi?
Beaucoup de cris sans voix. Vraiment jolie! Vous voulez voir des images? A quelle heure? Play again! Catastrophe ferroviaire de Gasconade Bridge. It was the first exhibit for the Southport museum, and was delivered onto track adjacent to the museum premises on 12th January , before the opening of the museum. Impec, ce Persil!
Bon dimanche. Mais alors me direz vous pourquoi lui? Depuis …Perdu. S Marthe Von Y. Titre SVP? Avec un renard. Le rabbin en tire alors les morales bien connues. Je vois que, en outre, Trouille nous lie tous les trois :TRS, vous et moi. Pfuiiii… Vous avez vraiment un bol monstre! Faut-il que vous ayez la rame pour ne pas nous laisser dans le vague. Je me lance! Est-ce cela? Ah Ginette! Cher Martin! Vous voyez le topo? Ceci dit, je suis naturellement partant pour les deux mille!
Comme leveto, je suis partant. Je propose Louise et Victor, sans illusions. Son of a Bitche! Elle aura fait avancer la rame. Pourquoi attendre? Ai-je tort, leveto? Paysage parisien. Mais il y a une question subsidiaire. Miniphasme , le hasard vous a encore souri. Oui, mais on vous souhaite des sourires plus souriants! Pour le reste, je donne ma langue au chat;. UN bon point. Gustaf Salut. Miniphasme, je ne savais pas cette histoire.
Mais bof! Salut Gustaf et coll. Mille excuses. Je vous passe le relais. Mais nous ne ramons pas maintenant sur les terres de Martin. Avec ses crayons de couleur Il rend joyeux les voyageurs. Gustafauxordres en sait quelque chose. Yacedjaz sur un autre fil, le 21 janvier : Et le Grand Robert? Je disais? Pourquoi pas? Ah la photo de 21h51! Il a un peu plus de 4 ans.
Avec Internet Explorer, tout marche!!!!! Merci pour tout. Chapeau bas! Surtout pour les portraits. Je reste humain, moi! Vous ne pourriez pas nous aider un peu? Le graffiti et les collages expriment comme une nostalgie. Toutes seules dans ce wagon. Suis-je anormal? Ben voyons. Larousse Biscator, ce ne serait pas le livreur du petit Nicolas? MiniPhasme, prenez donc un Carambar. Bonsoir, MiniPhasme! Mais non! Organisons une petite party! The lady Minnie Fathm is a tramp! Bon, Silvio Piccolomini, je vois.
Superbe, leveto, superbissime. Jeudi… dico! Pouvoir ferver en chassant des coquilles …. Sus au TLFi! Que demande le peuple?!! MiniPhasme Vos in ne sont pas suffisants. Il faut des in PS : Et merci WikiPhasme pour cette nouvelle monture! R itals? Je vous serre pas sers la pince. TRS Vous ouvrez des perspectives linguistiques. Et pourquoi abandonner la rame quand on voyage en si bonne compagnie? On peut dire que vous tombez pile poil! Breaking very Bad news [Au gnouf le ouf! MiniPhasme, Leban nictitant.
Top chrono…. Un macrofilm? Bonne nuit…. Snif…Pas de bol d … ——————- biscator, chiocciolino cabot Merci! Merci Wiki. Freeman vs Friedman? Q : Existe-t-il une antidose? Illustrer des frises? Biscator : Je ne connais pas Donald E. Westlake, mais la note est prise. Adieu Cary, hello Gary! Des papillons complotent [En boucle! Euh… Minute, papillon! MiniPhasme : je ne triche pas, je me documante. Un peu de brise marine, mille millions de mille sabords! Quand on me jette par-dessus bord, je reviens par le hublot.
K Dick and King. Faire ribote [suite et fin? Abus de Pina? Buona notte…. MiniPhasme, Est-ce que Perret en met trop? MiniPhasme Votre loco a beaucoup de puissance. Encore un sabotage, disais-je ailleurs… ——————————— Bon sang Martin , vous aviez raison de nous signaler cette Sainte. Petite devinette. Qui est ce vieil homme qui rame sans quitter la rive? Premier essai Concorde? Bon sang, mais par quel bout les prendre? De la mulette porte-malheur [Ras-la-moule! Et les bougies de la Normandie, qui va les souffler? Ah, Gustaf! Encore un petit ef fort …. QI de carassin [ou de poisson-chat?
Leveto, en situation. Idiotcraty VS idiocratie? I trust I can rely on your vote rockas When I go forward you go backward Somewhere we will meet When I go forward you go backward Somewhere we will meet Rockas. PS Merci pour ce post. The Full Monty Il est sorti, le chef de gare! Euh…sans doute un effet de la loi du nombre? So you can call your secret love And break the news to him Oh I thought your little romance Was on the strict Q.
Quittez donc ces filles et ces calvaires, MiniPhasme gaie comme une pinsonne! Et voici : 1. Apocalypse garantie et fin du Monde … 2. Jean Rostand. Encore heureux! Ben alors?! Martin : same player shoots again! Nager au-dessus [ou au-dessous? Se gargariser de pierres… Chapeau, la Phasme-Artiste! Ego sans trisme [ Blake is Blake ] Ph. Pas mieux, ja un truc qui cloche. Tentons une autre approche. Lebanni Jamais assassin! Envoyez-nous de vos nouvelles de temps en temps.
On compte sur vous. Salut Wana! Raymond Queneau. Certains guillemets?