large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb_72
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
English
11381
General Francis A. Walker,(96) in his study on "The Wages Question" (1876), has combated the wages fund theory, and proposed in its place a doctrine that wages are paid out of the product, and not out of accumulated capital. GENERAL FRANCIS A WALKER IN HIS STUDY ON THE WAGES QUESTION EIGHTEEN SEVENTY SIX HAS COMBATED THE WAGES FUND THEORY AND PROPOSED IN ITS PLACE A DOCTRINE THAT WAGES ARE PAID OUT OF THE PRODUCT AND NOT OUT OF ACCUMULATED CAPITAL
osed law of an ultimate limit to numbers suggested by Herbert Spencer, based on a diminution of human fertility. He tried to identify physical and social laws, and fused his political economy in a system of “Social Science” (1853), and his “Unity of Law” (1872). From about 1845 he became a protectionist, and his writings were vigorously controversial. In his doctrines on money he is distinctly a mercantilist;(94) but, by his earnest attacks on all that has been gained in the science up to his day, he has done a great service in stimulating inquiry and causing a better statement of results. While undoubtedly the best known of American writers, yet, because of a prolix style and an illogical habit of mind, he has had no extended influence on his countrymen.(95) The effect of the civil war is now beginning to show itself in an unmistakable drift toward the investigation of economic questions, and there is a distinctly energetic tone which may bring new contributions from American writers.  OF AND ULTIMATE LIMIT TO NUMBER SUGGESTED BY HERBERT SPENCER BASED ON A DIMINUTION OF HUMAN FERTILITY HE TRIED TO IDENTIFY PHYSICAL AND SOCIAL LAWS AND FUSED HIS POLITICAL ECONOMY IN A SYSTEM OF SOCIAL SCIENCE EIGHTEEN FIFTY THREE AND HIS UNITY OF LAW EIGHTEEN SEVENTY TWO FROM ABOUT EIGHTEEN FORTY FIVE HE BECAME A PROTECTIONIST AND HIS WRITINGS WERE VIGOROUSLY CONTROVERSIAL IN HIS DOCTRINES ON MONEY HE IS DISTINCTLY A MERCANTILIST BUT BY HIS EARNEST ATTACKS ON ALL THAT HAS BEEN GAINED IN THE SCIENCE UP TO THIS DAY HE HAS DONE A GREAT SERVICE IN STIMULATING INQUIRY AND CAUSING A BETTER STATEMENT OF RESULTS WHILE UNDOUBTEDLY THE BEST KNOWN OF AMERICAN WRITERS YET BECAUSE OF A PROLIX STYLE AND ILLOGICAL HABIT OF MIND HE HAS NO EXTENDED INFLUENCE ON HIS COUNTRYMEN THE EFFECT OF THE CIVIL WAR IS NOW BEGINNING TO SHOW ITSELF IN AN UNMISTAKABLE DRIFT TOWARD THE INVESTIGATION OF ECONOMIC QUESTIONS AND THERE IS A DISTINCTLY ENERGETIC TONE WHICH MAY BRING NEW CONTRIBUTIONS FROM AMERICAN WRITERS
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