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principles of the subject for purposes of practice, owing to which the “Wealth of Nations," alone among treatises on Political Economy, has not only been popular with general readers, but has impressed itself strongly on the minds of men of the world and of legislators.
It appears to the present writer, that a work similar in its object and general conception to that of Adam Smith, but adapted to the more extended knowledge and improved ideas of the present age, is the kind of contribution which Political Economy at present requires. The “ Wealth of Nations” is in many parts obsolete, and in all, imperfect. Political Economy, properly so called, has grown up almost from infancy since the time of Adam Smith: and the philosophıy of society, froin which practically that eminent thinker never separated his more peculiar theme, though still in a very early stage of its progress, has advanced many steps beyond the point at which he left it. No attempt, however, has yet been made to combine his practical mode of treating his subject with the increased knowledge since acquired of its theory, or to exhibit the economical phenomena of society in the rela tion in which they stand to the best social ideas of the present time, as he did, with such admirable success, in reference to the philosophy of bis century.
Such is the idea which the writer of the present work has kept before him. To succeed even partially in realizing it, would be a sufficiently useful achievement, to induce him to incur willingly all the chances of failure. It is requisite, however, to add, that although his object is practical, and, as far as the nature of the subject admits, popular, he has not attempted to purchase either of those advantages by the sacrifice of strict scientific reasoning. Though he desires that his treatise should be more than a mere exposition of the abstract doctrines of Political Economy, he is also desirous that such an exposition should be found in it.
The present edition is an exact transcript from the sixth, except that all extracts and most phrases in foreign languages have been translated into English, and a very small number of quotations, or parts of quotations, which appeared superfluous, have been struck out. A reprint of an old controversy with the “Quarterly Review” on the condition of landed property in France, which had been subjoined as an Appendix has been dispensed with.
8 1. Labour employed either directly about the thing produced, or in
operations preparatory to its production .
5. - in the protection of labour . . . . . . . . . .
2. -- but does not always come up to that limit..
assignable bounds . . . . . . . . . . . . . .
7. Why countries recover rapidly from a state of devastation ...
CHAPTER VI. Of Circulating and Fixed Capital.
5. --- superiority of intelligence and trustworthiness in the commu-
nity generally . . .
1. Means and motives to saving, on what dependent. ...
2. Necessity of restraining population not confined to a state of
· · · ·
§ 1. The institution of property implies freedom of acquisition by con-
tion of inheritance examined . . . . . . . . . . . .
ens which are not always realized.
§ 1. The produce sometimes shared among three classes . . . . . 145 km
2. — sometimes belongs undividedly to one .........]
2. Evidence respecting peasant properties in Switze
4. – in Germany · · · · · · · ..
CHAPTER VII. Continuation of the same subject.
ehiaini :is: · · · · · · ·
5. — cn the subdivision of land''..
§ 1. Nature of the metayer system, and its varieties
2. Its advantages and inconveniences . . . . . . . . . . .