A Treatise on Political Economy (Volume 2); Or the Production, Distribution, and Consumption of Wealth (Paperback)

This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1821. Not illustrated. Excerpt: ... lation are more numerous, the real ones more scantily supplied, and rapid consumption more common and destructive. The patrician spendthrifts and imperial gluttons of ancient Rome thought they never could squande/ enough. Besides, immoral kinds of consumption are infinitely more general, where the extremes of wealth and poverty are found blended together. In such a state of society, there are a few, who can indulge in the refinement of luxury, hut a vast number, who look on their enjoyments with envy, and are ever impatient to imitate them. To get into the privileged class is the grand object, be the means ever so questionable; and those, who are little scrupulous in the acquirement, are seldom more so in the employment of wealth.(a) The government has, in all countries, a vast influence, in determining the character of the national consumption; not only because it absolutely directs the consumption of the state itself, but because a great proportion of the consumption of individuals is guided by its will and example. If the government indulge a taste for splendor ami ostentation, splendor and ostentation will be the order of the day, with the whole host of imitators; and even those of better judgment and discretion must, in some measure, yield to the torrent. For, how seldom are they independent of that consideration and good (o) In a wholesome state of society, when public institutions are not needlessly multiplied, and all tend to the common purpose of public good, this very impatience and anxiety is conducive to the welfare, and not to the injury, of society. Indeed, great inequality of fortune seems to be a necessary accompaniment to social wealth and great national productive power. It is the prospect of great prizes only, that can stimulate to the extreme...