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political economy
1. This notion is connected with the system of political economy, which represents national wealth as consisting in the abundance and national poverty in the scarcity, of gold and silver ; a system which I shall endeavour to explain and examine at great length in the fourth book of this Inquiry
2. But the great object of the political economy of every country, is to increase the riches and power of that country
3. The different progress of opulence in different ages and nations, has given occasion to two different systems of political economy, with regard to enrichiug the people
4. Gold and silver, therefore, are, according to him, the must solid and substantial part of the moveable wealth of a nation ; and to multiply those metals ought, he thinks, upon that account, to be the great object of its political economy
5. The title of Mun's book, England's Treasure in Foreign Trade, became a fundamental maxim in the political economy, not of England only, but of all other commercial countries
6. The two principles being established, however, that wealth consisted in gold and silver, and that those metals could be brought into a country which had no mines, only by the balance of trade, or by exporting to a greater value than it imported ; it necessarily became the great object of political economy to diminish as much as possible the importation of foreign goods for home consumption, and to increase as much as possible the exportation of the produce of domestic industry
7. The agricultural systems of political economy will not require so long an explanation as that which I have thought it necessary to bestow upon the mercantile or commercial system
8. He seems not to have considered, that in the political body, the natural effort which every man is continually making to better his own condition, is a principle of preservation capable of preventing and correcting, in many respects, the bad effects of a political economy, in some degree both partial and oppressive
9. Such a political economy, though it no doubt retards more or less, is not always capable of stopping altogether, the natural progress of a nation towards wealth and prosperity, and still less of making it go backwards
10. This system, however, with all its imperfections, is perhaps the nearest approximation to the truth that has yet been published upon the subject of political economy ; and is upon that account, well worth the consideration of every man who wishes to examine with attention the principles of that very important science
11. This sect, in their works, which are very numerous, and which treat not only of what is properly called Political Economy, or of the nature and causes or the wealth of nations, but of every other branch of the system of civil government, all follow implicitly, and without any sensible variation, the doctrine of Mr
12. As the political economy of the nations of modern Europe has been more favourable to manufactures and foreign trade, the industry of the towns, than to agriculture, the industry of the country; so that of other nations has followed a different plan, and has been more favourable to agriculture than to manufactures and foreign trade
13. The miserable effects of which the company complained, were the cheapness of consumption, and the encouragement given to production ; precisely the two effects which it is the great business of political economy to promote
14. An eminent French author, of great knowledge in matters of political economy, the Abbe Morellet, gives a list of fifty-five joint-stock companies for foreign trade, which have been established in different parts of Europe since the year 1600, and which, according to him, have all failed from mismanagement, notwithstanding they had exclusive privileges
15. in logic and political economy that remain among the
16. The Malthusian crowning statement was found in his Essay on Population and Principles of Political Economy
17. The traffic in women: Notes on the "political economy" of sex
18. Why be anyone's automatically conscripted at birth soldier for an ideology and political economy that you neither helped design nor consented to be ruled by?
19. Aristotle censures the community of property much in the spirit of modern political economy, as tending to repress industry, and as doing away with the spirit of benevolence
20. In the books on political economy—in Mill, for instance,
21. Political economy told him that the laws by which the wealth of Europe had been developed, and was developing, were universal and unvarying
22. In order to work out the whole subject theoretically and to complete his book, which, in Levin’s daydreams, was not merely to effect a revolution in political economy, but to annihilate that science entirely and to lay the foundation of a new science of the relation of the people to the soil, all that was left to do was to make a tour abroad, and to
23. He knew Metrov had written an article against the generally accepted theory of political economy, but to what extent he could reckon on his sympathy with his own new views he did not know and could not guess from the clever and serene face of the
24. He saw that Metrov, like other people, in spite of his own article, in which he had attacked the current theory of political economy, looked at the position of the Russian peasant simply from the point of view of capital, wages, and rent
25. 191 OPPORTUNITY COST IS HARDER: For a lovely and insightful essay that touches on the concept of opportunity cost, see Frédéric Bastiat, “What Is Seen and What Is Not Seen,” Selected Essays on Political Economy, first published 1848; published 1995 by The Foundation for Economic Education, Inc
26. She sat down in the library before her particular little heap of books on political economy and kindred matters, out of which she was trying to get light as to the best way of spending money so as not to injure one's neighbors, or—what comes to the same thing—so as to do them the most good
27. The germs of Parisian political economy, latent in his heart, would assuredly burst forth, sooner or later, whenever the careless spectator became an actor in the drama of real life
28. The original source for this idea is a paper by Sushil Bikhchandani, David Hirshleifer, and Ivo Welch (BHI) that was published in the Journal of Political Economy in 1992 (pp
29. And yet the former history continues to be studied side by side with the laws of statistics, geography, political economy, comparative philology, and geology, which directly contradict its assumptions
30. It is in this manner that, in the blindness of a poor political economy, we drown and allow to float down stream and to be
31. Political economy therein
32. Thaler (2003), “Can the market add and subtract? Mispricing in tech stock carve-outs,” Journal of Political Economy 111, 227–268
33. "Would it not be good political economy," Bumpo whispered back, "if we salted the able seaman and ate him instead? I should judge that he would weigh more than a hundred and twenty pounds
34. In the books on political economy—in Mill, for instance, whom he studied first with great ardor, hoping every minute to find an answer to the questions that were engrossing him—he found laws deduced from the condition of land culture in Europe; but he did not see why these laws, which did not apply in Russia, must be general
35. In order to work out the whole subject theoretically and to complete his book, which, in Levin's daydreams, was not merely to effect a revolution in political economy, but to annihilate that science entirely and to lay the foundation of a new science of the relation of the people to the soil, all that was left to do was to make a tour abroad, and to study on the spot all that had been done in the same direction, and to collect conclusive evidence that all that had been done there was not what was wanted
36. Civilians love to pass opinions about subjects that are the province of the soldier and even of the field-marshal; while men who have been educated as engineers prefer discussing philosophy and political economy
37. He knows that all the habits in which he is brought up, and the deprivation of which would be a torment for him, can be gratified only by the painful, often perilous labour of oppressed working men, that is, by the most palpable, coarse violation of those principles of Christianity, humanitarianism, justice, and even science (I mean the demands of political economy), which he professes
38. They were lectures to the English workingmen on political economy, which struck Tolstoi favourably and which he included in the manuscript which was then being issued under the title of Archives of L
39. And therefore one side of science, including theology and philosophy adapted to the existing order, as also history and political economy of the same sort, are chiefly occupied in proving that the existing order is the very one which ought to exist; that it has come into existence and continues to exist by the operation of immutable laws not amenable to human will, and that all efforts to change it are therefore harmful and wrong
40. , in comparison with such knowledge as we have thrown aside and handed over to the perversions of the professors of theology, jurisprudence, political economy, financial science, etc
41. But the science of our times does nothing of the kind: on the contrary, political economy demonstrates the opposite position; namely, that landed property, like every other form of property, must be more and more concentrated in the hands of a small number of owners
42. Besides the land, there is the sun and rain; and, in addition, social order, which has been keeping these meadows from any damage which might be caused by letting stray cattle graze upon them, the skill of workmen, their knowledge of language, and many other agencies of production,—which, for some unknown reason, are not taken into consideration by political economy
43. Why, then, are three only to be chosen, and laid as a foundation for the science of political economy? Sunshine and water equally with the earth are factors in production, so with the food and clothes of the workers, and the transmission of knowledge
44. If the object of this sham pseudo-science of Political Economy had not been the same as that of all other legal sciences,—the justification of coercion,—it could not have avoided noticing the strange phenomena that the distribution of wealth, the deprivation of some men of land and capital, and the enslavery of some men to others, depend upon money, and that it is only by means of money that some men utilize the labour of others,—in other words, enslave them
45. It is obvious from the state of the political economy of all Europe, that it is by the tightening of this screw that the screw of land slavery is slackened
46. But the majority of the representatives of modern Political Economy are doing just the reverse of this: they carefully hide the connection and meaning of the phenomena, and avoid answering the most simple and essential questions
47. In the sphere of political economy a theory is propounded which amounts to saying that the worse things are the better they are; that the greater the accumulation of capital, and therefore the oppression of the workman, the nearer the day of emancipation, and, therefore, every personal effort on the part of a man to free himself from the oppression of capital is useless
48. Nor am I to be frightened out of the embargo by a fear of being supplanted in the market, from that quarter; they must be but little read indeed in political economy, who can dread a competition with barbarians, in the cultivation of the earth
49. I wish to be indulged in a little further comparative political economy