large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb_105
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
English
11381
Of all the writers(55) since Cairnes, it may be said that, while adding to the data with which political economy has to do, and putting principles to the test of facts, they have made no actual addition to the existing body of principles; although questions of distribution and taxation are certainly not yet fully settled, as is seen by the wide differences of opinion expressed on subjects falling within these heads by writers of to day. TO EIGHTEEN EIGHTY TWO OF ALL WRITERS SINCE CAIRNS IT MAY BE SAID THAT WHILE ADDING TO THE DATA WITH WHICH POLITICAL ECONOMY HAS TO DO AND PUTTING PRINCIPLES TO THE TEST OF FACTS THEY HAVE MADE NO ACTUAL ADDITION TO THE EXISTING BODY OF PRINCIPLES ALTHOUGH QUESTIONS OF DISTRIBUTION AND TAXATION ARE CERTAINLY NOT YET FULLY SETTLED AS IS SEEN BY THE WIDE DIFFERENCES OF OPINION EXPRESSED ON SUBJECTS FALLING WITHIN THESE HEADS BY WRITERS OF TO DAY
ies” (1880) he has discussed with a remarkable economic insight the postulates of political economy, and the position of Adam Smith, Ricardo, and Malthus; in his “Lombard Street” (fourth edition, 1873), the money market is pictured with a vivid distinctness which implies the possession of rare qualities for financial writing; indeed, it is in this practical way also, as editor of the London “Economist,”(52) that he made his great reputation. Of living English economists, Professor Henry Fawcett,(53) in his “Manual of Political Economy” (1865; sixth edition, 1883), is a close follower of Mill, giving special care to co-operation, silver, nationalization of land, and trades-unions. He is an exponent of the strict wages-fund theory, and a vigorous free-trader. Professor J. E. Thorold Rogers, of Oxford, also holds aloof from the methods of the old school. His greatest contribution has been a “History of Agriculture and Prices in England,” from 1255 to 1793, in four volumes(54) (1866-1882). H REMARKABLE ECONOMIC INSIGHT THE POSTULATES OF POLITICAL ECONOMY AND THE POSITION OF ADAM SMITH RICARDO AND MALTHUS IN HIS LOMBARD STREET FOURTH EDITION EIGHTEEN SEVENTY THREE THE MONEY MARKET IS PICTURED WITH A VIVID DISTINCTNESS WHICH IMPLIES THE POSSESSION OF RARE QUALITIES OF FINANCIAL WRITING INDEED IT IS IN THIS PRACTICAL WAY ALSO AS EDITOR OF THE LONDON ECONOMIST THAT HE MADE HIS GREAT REPUTATION OF LIVING ENGLISH ECONOMISTS PROFESSOR HENRY FAWCETT IN HIS MANUAL OF POLITICAL ECONOMY EIGHTEEN SIXTY FIVE SIXTH EDITION EIGHTEEN EIGHTY THREE IS A CLOSE FOLLOWER OF MILK GIVING SPECIAL CARE TO CO OPERATION SILVER NATIONALIZATION OF LAND AND TRADE UNIONS HE IS AN EXPONENT OF THE STRICT WAGES FUND THEORY AND IS A VIGOROUS FREE TRADER PROFESSOR J E THORALD ROGERS OF OXFORD ALSO HOLDS ALOOF FROM THE METHODS OF THE OLD SCHOOL HIS GREATEST CONTRIBUTION HAS BEEN A HISTORY OF AGRICULTURE AND PRICES IN ENGLAND FROM TWELVE FIFTY FIVE TO SEVENTEEN NINETY THREE IN FOUR VOLUMES EIGHTEEN SIXTY SIX
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