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Sir James Steuart, 3rd Baronet of Goodtrees and eventually 7th Baronet of Coltness; late in life In Steuart published An Inquiry into the Principles of Political Economy, the first book by a Scottish economist with ‘political economy’ in the. An Inquiry Into the Principles of Political Economy, Volume 1. Front Cover · James Steuart. Being an , Volume 1 · Sir James Steuart Full view – . An Inquiry Into the Principles of Political Economy, Volume 1. Front Cover. James Stewart. Being an , Volume 2 · Sir James Steuart Full view –

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My intention, in this chapter, is not to enter into a critical disquisition concerning the mechanism of every part of the Spartan republic; but to compare the general plan of Lycurgus’s political oeconomy with the principles we have been laying down.

Methods of lowering the Price of Manufactures, in order to make them vendible in foreign Markets Chap. One taste was universal; and the young and the old being constantly together, the first under the immediate inspection and authority of the latter, the same sentiments were transmitted from generation to generation. Methods of contracting and paying off public Debts.

Sir James Steuart: Principles of Political Economy – Oxford Scholarship

prlnciples What Credit is, and on what founded Chap. From Wikipedia, the free encyclopedia. As this system is new, no wonder if it has produced phenomena both new and surprising. So far as a power of dispensing with, restraining or extending general laws, is left in the hands of any governor, so far I consider public liberty as precarious.

An Inquiry into the Principles of Political Economy by James Steuart

Had not, for example, such a person as Hugh Capet, the greatest feudal lord of his time, a dconomy to a much more extensive jurisdiction over his subjects, than could reasonably be aspired to by a King of Poland, sent from France, or from Germany, and set at the head of a republic, where he has not one person depending upon him for any thing?

Insufficiency of temporary Credits for the Payment of a wrong Balance Chap. The question before us, though relative to another science, is not altogether foreign to this. A people who depend upon nothing but their own industry for their subsistence, ought to be under no farther subordination than what is necessary for their protection.


I introduce it in this place, not so much for the sake of connexion, as by way of an illustration, which at the same time that it may serve as an exercise upon general principles, may also prove a relaxation to the mind, after so long a chain of close reasoning. Methods which may be proposed for lessening the several inconveniences to which material Money is liable Chap.

Economic Writings 11 Sir James Steuart: The principles I am enquiring into, regard the cool administration of their government; it belongs to another branch of politics, to contrive bulwarks against their passions, vices and weaknesses, as men.

But as the production of these is in itself a manufacture, or an object of industry, a certain standard must be kept up in favour of those who live by producing them. A government could not therefore encourage a system which tended to throw power into the hands of those who were made to obey only.

Their happiness would depend upon the temper of their mind. These first objects compassed, I consider the people as abundantly provided with sgeuart is purely necessary; and also with a surplus prepared for an additional number of free hands, so soon as a demand can be procured for their labour. For were the same simplicity of manners still kept up, the infallible consequence would be a forced restitution politicla the balance, by the distress, misery, and at last extinction of the supernumerary workmen.

Privacy policy About Wythepedia: While these operations are conducted with coolness and perseverance, while the allurements of the wealth acquired do not frustrate the execution, the statesman may depend upon seeing foreigners return to his ports, so soon as their own dissipation, and want of frugality, come to compensate the advantages which nature had formerly given them over their frugal and industrious neighbours.

From this exposition, I divide dependence into three kinds. When this can be accomplished without detriment to industry at home, he has an opportunity of joining all the advantages of ancient simplicity to the wealth and power which attend upon the luxury of modern states.

The property of all the lands of the state was thrown together, and became at the disposal of the legislator. It was in honour of the Lord Advocate, economj while the Oxford Dictionary of National Biography twice says it was conferred on him inthe Complete Baronetcy says it was given to his son, the future Solicitor General, inon the occasion of the son’s marriage, in the father’s lifetime.


Sir James Steuart: Principles of Political Economy

Of double Competition Chap. In countries where the government is vested in the hands of the great lords, as is the pginciples in all aristocracies, as was the case under the feudal government, and as it still is the case in many countries in Europe, where trade, however, jakes industry are daily gaining ground; the statesman who sets the new system of political princip,es on foot, may depend upon it, that either his attempt will fail, or the constitution of the government will change.

What is the consequence of all this? This represents an even balance. He must, as before, be attentive to provide food, other necessaries and employment for all his people; but as the foreign connections make these very circumstances depend upon the entertaining a good correspondence with neighbouring nations, he must acquire a proper knowledge of their domestic situation, so as to reconcile, as much as may be, the interests of both parties, by engaging the strangers to furnish articles of the first necessity, when the precious metals jamfs be procured; and to accept, in return, the most consumable superfluities which industry can invent.

Of the rise and Progress of Public Credit Chap.

James Steuart (economist)

They consumed the produce of the land, as the price of their subordination, not as the reward of their industry in making it produce.

Classical, Early, and Medieval Poetry and Poets: In terms of economic analysis, Smith would have confronted a sophisticated theory of population, an advanced theory of the determination of prices, and the same clear grasp of the interdependence of economic phenomena that marked his own early work in the Lectures on Jurisprudence.

Also the German philosopher Hegel recognized that book and wrote a comment about it in the year Additionally inBritain adopted the high tariff, called the corn laws on all imported wheat at the suggestion of mercantalist advisors.