Wealth A Brief Explanation of the Causes of Economic Wealth (London P.S. King and Son, 1922).docx

8/18/2019 Wealth A Brief Explanation of the Causes of Economic Wealth (London P.S. King and Son, 1922).docx

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CHAPTER I

THE SUBJECT -MATTER OF ECONOMICS

T HERE is no reason for not accepting the time-hono re! i!enti"cation of the s #$ect-matter ofeconomics %ith &%ea'th() At an* rate+ I inten! to accept it in the present %or,+ an! conse ent'* Isha'' treat the estion &.hat is %ea'th/) as e0act'* the same estion as &.hat is it mostcon1enient to ta,e as the s #$ect-matter of economics/) Most con1enient+ I sa*+ #eca seeconomics is a !epartment of science+ an! therefore the estion %hat sho '! #e inc' !e! in it is a

estion of the most con1enient !e'imitation of the !i2erent !epartments of science(

To s ch a estion the practice of %riters an! ora' teachers s a''* f rnishes a #etter ans%er thantheir pre'iminar* search for a !e"nition %hich the* hope %i'' "t the matter of their in1estigations( Iprocee!+ therefore+ to as, %hat is+ in fact+ the s a' s #$ect-matter of #oo,s an! 'ect res oneconomics(

It is+ in the "rst p'ace+ n!o #te!'* something possesse! or en$o*e! #* h man #eings(

It is tr e that %hen economics "rst #egan to stan! o t as a separate !epartment of science+ theeconomists steppe! straight into contro1ersies a#o t nationa' %ea'th+ an! it !i! not occ r to themto as, themse'1es !e"nite'* %hether the* ha! to !o %ith an* other #o!* than &the nation() So%hen Ste art+ in 3454+ ca''e! his 'arge %or, An Inquiry into the Principles of Political O Economy +the term &po'itica') in!icate! that he inten!e! to !isc ss nationa' %ea'th( A!am Smith+ ten *ears'ater+ pro#a#'* imagining himse'f to #e prec' !e! from gi1ing his #oo, the same tit'e as Ste art6s+

se! An Inquiry into the Nature and Causes of the Wealth of Nations as s*non*mo s( In the moregenera' parts of his treatise+ ho%e1er+ he often s #stit tes &the societ*) for &the nation+) an! it isc'ear that he inten!e! his %or, to co1er more than a 'itera' interpretation of the tit'e %o '! inc' !e(7ater %riters ha1e often se! the %or! &comm nit*) in the same %a* as A!am Smith se!&societ*+) an! ha1e spo,en of &the %ea'th of the comm nit*) %hen the* masse! into one #o!* a''the h man #eings %ith %hom the* %ere !ea'ing(

A'' economists ha1e consi!ere! the %ea'th of c'asses an! in!i1i! a's %ithin the comm nit* as %e''as that of the %ho'e comm nit*+ so that it ma* #e sai! that neither the se of the term &po'itica')in &po'itica' econom*) nor the se of the term &nation) are to #e ta,en as inten!e! to con"ne thescience to the %ea'th of nations( The s #$ect-matter of po'itica' econom* or economics has a'%a*s#een the %ea'th of h man #eings genera''*(

Origina''* 66%ea'th) in or!inar* Eng'ish %as the name of a state or con!ition of h man #eings s ch

as is s ggeste! #* the pra*er for the 8ing in the Boo, of Common 9ra*er+ &:rant him in hea'th an!%ea'th 'ong to 'i1e( &The s ;0 th in!icates a state or con!ition+ so that &%ea' th ) in!icate! the stateor con!ition of #eing %e''+ or as %e sho '! sa* in mo!ern Eng'ish+ prospero s+ $ st as &hea' th )in!icate! the state of #eing hea'e! or free from !isease( B t in co rse of time the %or! came to #eapp'ie! to mone* an! other concrete things+ comman! o1er %hich ma!e a person 'i1e in %ea'th( Inthe eighteenth cent r* some %riters fo n! it necessar* to protest against the 1ie% that nationa'po'ic* sho '! #e !irecte! to%ar!s the aim of sec ring a perpet a' increase of the go'! an! si'1er%ithin the nationa' territor*( In !oing so the* 1er* nat ra''* sai! that %ea'th !i! not consist entire'*of go'! an! si'1er+ # t a'so of certain other concrete things+ s ch as horses an! catt'e+ ho ses an!orchar!s( This 'e! them to 'ose sight of the o'!er meaning of %ea'th as a state or con!ition ofh man #eings+ an! to regar! it rather as certain materia' possessions of h man #eings(


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Most of the statements %hich an economist is 'i,e'* to ma,e re'ate to antities< he !ea's %ithincreases an! !ecreases( It is impossi#'e to ma,e statements a#o t increases an! !ecreases of the%ea'th of h man #eings if their %ea'th is s ppose! to consist mere'* of certain concrete o#$ects%itho t reference to time( 9ropositions a#o t increases of ta#'es+ chairs+ or 'oa1es+ %hich at "rstsight appear inte''igi#'e eno gh+ are as meaning'ess as propositions a#o t the increase of rain!rops

%itho t reference to time %o '! at once appear to s( It is ite tr e that %e !o not s a''*= "n!#are statements that ta#'es+ chairs+ or 'oa1es ha1e increase! ninte''igi#'e+ # t that is #eca sefrom the conte0t or #* some other means %e ha1e gathere! that the statement refers to thesethings+ not in the a#stract+ # t in some !e"nite re'ation to time( .e are 'e! to thin, of the ta#'esan! chairs in the %or'! or some part of the %or'! at some one instant of time+ or of the 'oa1espro! ce! in the %or'! or some part of it in some partic 'ar 'ength of time+ s ch as a %ee, or a *ear(

B t ti'' ite 'ate'* the searchers for a forma' !e"nition of &%ea'th) o1er'oo,e! this point+ an! greatconf sion res 'te! from the o1ersight( The more primiti1e the econom* of a peop'e+ the more 'i,e'*are the* to ha1e regar! to their possessions at a point of time rather than to %hat the* can e0pectto recei1e as time passes( The poorer a person is+ the more 'i,e'* is he to thin, of %hat he has atthe moment an! the 'ess of his receipts in the past or his prospect of receipts in the f t re( The

estion &Ho% m ch a *ear ha1e *o /) or e1en &Ho% m ch a %ee,/) is not one %hich occ rs toprimiti1e man or e1en at the present time to a man of the 'o%est c'ass or to a chi'! of an* c'ass inthe most( &a!1ance!) co ntries( To them the estion is &Ho% m ch ha1e *o got / &Hence it isnot s rprising that the co''ection of o#$ects %hich a man of the se1enteenth or eighteenth cent r*%o '! s a''* ha1e in his min! %hen he ta',e! of increases or !ecreases of %ea'th %o '! #e theco''ection of things in e0istence at a point of time rather than the amo nt coming in or #eingcreate! per ann m or per!iem( Nor is it s rprising that in c 'ti1ate! societ* the conception of aperio!ica' receipt sho '! ha1e s #se ent'* force! its %a* in an! o1erpo%ere! the conception of area'i>e! amo nt(

It is+ ho%e1er+ perhaps rather s rprising that the transition from one i!ea to the other sho '! ha1e

ta,en p'ace %itho t economists noticing the change( An e0p'anation %hich is at 'east p'a si#'e ma*#e gi1en( A!am Smith great'* faci'itate! the transition #* "rst ca''ing his #oo, An Inquiry into theNature and Causes of the Wealth of Nations + an! then !e'i#erate'* !e"ning the %ea'th of a nationas its &ann a' pro! ce+) or &the necessaries or con1eniencies of 'ife %hich it ann a''* cons mes()B t he !i! not notice the !i2erence #et%een the %ea'th of a nation !e"ne! in this %a* an! theconception of it as a n m#er of things possesse! at a point of time+ #eca se he %as engrosse!%ith the !esire to protest against the cr !er conception of it as the amo nt of go'! an! si'1erpossesse!( Th s instea! of sa*ing that the %ea'th of a nation is not the 'an!+ catt'e+ machiner*+an! other things possesse! #* it at a point of time+ # t rather the ann a' pro! ce of the 'an! an!'a#o r of the peop'e+ he sa*s it is not go'! an! si'1er+ # t the ann a' pro! ce( 7ater %riters for a'ong time fo''o%e! him in ma,ing the same antithesis+ an! %ere th s 'e!+ 'i,e him+ into o1er'oo,ing

the rea''* important part of the change %hich %as #eing ma!e(

.hate1er the e0p'anation ma* #e+ there is no !o #t of the fact that economists !i! fai' to in!icatec'ear'* in their !e"nitions of %ea'th %hether the %ea'th of persons an! peop'es+

%hich a'one co '! #e meant %hen antitati1e statements %ere ma!e a#o t &%ea'th+) %as theco''ection of things possesse! #* them at a point of time or the co''ection pro! ce! #* them+ orsomeho% o#taine! #* them+ %ithin a 'ength of time( B t in their practice the* s a''* fo''o%e!A!am Smith( ?ea'ing+ 'i,e him+ %ith the &pro! ction) an! &!istri# tion) of %ea'th+ the* %ereo#'ige! to ,eep 'ength of time in their min!s< the pro! ction of %ea'th %as greater or 'essaccor!ing as more or 'ess %as pro! ce! per ann m+ an! the !istri# tion of %ea'th+ as he an! the*concei1e! it+ %as the !istri# tion of the ann a' pro! ce( Th s+ in spite of the a#sence of !e"nitionsin!icating the fact+ the &%ea'th) %ith %hich economists genera''* inten!e! to !ea' %hen the* ma!e


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antitati1e statements concerning it %as the %ea'th perio!ica''* pro! ce! or coming in+ an! %ecan no% procee! to in ire of %hat this %as s ppose! to consist(

The Eng'ish statisticians of the 'atter part of the se1enteenth cent r* regar!e! the ann a' pro! ceof the co ntr* %ith the e*es of a farmer( The* tho ght of the ra% pro! ce of a farm+ an! regar!e!

this as forming the s #sistence of the %ho'e of the peop'e( The French économistes + or ph*siocrats+the fo''o%ers of @ esna*+ ha! the same agric 't ra' stan!point+ an! ma!e the !octrine more!e"nite #* e0press'* !en*ing the a'it* of pro! cti1it* to a'' 'a#o r not emp'o*e! imme!iate'* onthe 'an!( A!am Smith ma!e a change 3 the right !irection #* inc' !ing in( &pro! cti1e) 'a#o r noton'* the 'a#o r emp'o*e! imme!iate'* on the 'an!+ # t a'so a'' other 'a#o r %hich impro1e!materia' o#$ects+ an! th s+ as he sai!+ !i! not perish in the 1er* instant of its performance(9ro#a#'* he %o '! not ha1e ha'te! here if it ha! not happene! that he mi0e! p the estion ofpro! cti1e an! npro! cti1e 'a#o r %ith an in ir* into the acc m 'ation of capita'+ an! %as th sinsensi#'* 'e! to as, himse'f %hat 'a#o r pro! ces capita' instea! of %hat 'a#o r pro! ces&pro! ce() J( B( Sa* sa% the %ea,ness of his position+ an! e0ten!e! the notion of pro! cti1e 'a#o rto co1er &non-materia' pro! cts() From his time+ in spite of J( S( Mi''+ %ho here+ as often+ trie! tof r#ish p the o#so'ete+ the ann a' pro! ce %as genera''* regar!e! as consisting of ser1ices) as%e'' as &commo!ities()

The ann a' pro! ce %as sometimes for greater acc rac* ca''e! the &net pro! ce+) #eca se it %asseen that care m st #e ta,en to a1oi! !o #'e or trip'e rec,oning of the same thing+ %hich %o '!occ r if+ for e0amp'e+ iron ore+ pig iron+ an! iron po,ers %ere a'' a!!e! together( The ann a'pro! ce+ or more precise'*+ the ann a' net pro! ce+ conse ent'* came to #e regar!e! asconsisting on'* of those commo!ities an! ser1ices %hich act a''* reach the cons mer+ plus thosecommo!ities %hich %ere a!!e! to the e0isting stoc, of commo!ities an! minas those %hich %ere!e! cte! from the e0isting stoc,( The cons mer here %as of co rse the "na' cons mer+ %hocons mes for his o%n satisfaction an! not in or!er to sec re some f rther res 't= for e0amp'e+ thecons mer of %heat %as the person %ho ate it in %hate1er form+ not the mi''er or the #a,er(

No% there are no means #* %hich %e can act a''* !isting ish net pro! ce from gross pro! ce inthis %a* if %e approach the s #$ect from the si!e of the pro! cer( A fe% commo!ities+ s ch as'oa1es of #rea!+ ma* #e s ppose! %itho t materia' inacc rac* to #e'ong entire'* to net pro! ce(B t man* commo!ities are se! #oth for imme!iate satisfaction an! for f rther pro! ction+ an!there is no %a*+ from the pro! cer6s si!e+ of !isting ishing %hich parts are se! in one %a* an!%hich in the other( For e0amp'e+ of ' #ricating oi'+ the antit* se! in a cotton-spinning factor* %i''#e a means to%ar!s the pro! ction of another commo!it*+ cotton c'oth< the antit* se! inr nning a motor-car for p'eas re %i'' fa'' into net pro! ce( Again+ gas is sent o t from the samegas%or,s to persons %ho se some of their s pp'* for !ri1ing a gas-engine to ma,e something%hich the* se''+ an! some to 'ight their o%n !inner ta#'e( Another great !i;c 't* arises from the

fact that %hen the stoc, of e0isting things %hich are se! #* man is+ as contin a''* happens+!ep'ete! #* the s #traction of some things an! increase! #* the accession of other things+ there isno %a* of mar,ing o t the gross a!!itions into t%o parts+ the net a!!itions an! the remain!er(S ppose the stoc, of ships is !iminishe! #* the sin,ing or #rea,ing p of three h n!re! sma''sai'ing ships an! increase! #* the a!!ition of "ft* 'arge steamers< it %o '! #e mis'ea!ing to sa*simp'* that the n m#er of ships %as re! ce! #* t%o h n!re! an! "ft*+ %hi'e on the other han!+an* ca'c 'ation as to the re'ati1e carr*ing capacit* of sai'ing ships an! steamers an! a conse entre! ction of the t%o to some common meas re in1o'1es a'' sorts of ass mptions an! con$ect res(

A perception+ not a'%a*s 1er* !istinct+ of these !i;c 'ties has gra! a''* 'e! to the s #stit tion of&income) for &pro! ce) or &net pro! ce() One of Marsha''6s s ggestions for the !e"nition ofeconomics at the #eginning of the ear'ier e!itions of his great %or, %as ho% man &gets his income+an! ho% he ses it() Here %e approach the s #$ect from a !i2erent si!e( Instea! of starting fromthe 'an! an! 'a#o r an! tr*ing to trace the pro! ct thro gh its 1ario s stages+ e0c' !ing !o #'e


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rec,onings as %e go+ %e 'oo, in the "rst p'ace at the 1a' ation of the net res 'ts %hich %e get #*consi!ering in!i1i! a's6 mone*-incomes(

B t mone*-income !oes not a'%a*s inc' !e e1er*thing %hich %e sho '! regar! as #e'onging to thenet pro! ce( Near'* a'' farmers cons me part of their o%n pro! ce+ most %i1es perform !omestic

! ties of a ,in! %hich a!! to the materia' %e'fare of themse'1es an! their fami'ies+ an! so on(O#ser1ing this+ economists ha1e #een 'e! to a!! to the act a' mone*-income a mone*-1a' ation of a'' economic ser1ices an! commo!ities %hich are not acco nte! for in the mone*-income( Thisp'an enco nters t%o !i;c 'ties( Ho% are %e to !eci!e %hat is economic+ an! ho% are %e to 1a' e/Are the ser1ices of a mother to her chi'! economic+ an! are the* to #e appraise! at the samemone*-1a' e as those of a %et-n rse/

S pposing these !i;c 'ties to #e s rmo nte!+ %e "n! o rse'1es !ea'ing %ith a s m of mone*s ppose! to represent the commo!ities an! ser1ices of an economic character %hich areen$o*e!+ plus those commo!ities %hich form the net a!!ition to the stoc, of sef ' things( B t

antitati1e statements a#o t this s m of mone* are not satisf*ing #* themse'1es( If %e sa* theincome of the comm nit* has increase!+ %e !o not %ant to #e met %ith the retort &The income1a' e! in mone* ma* ha1e gone p+ # t that is on'* ! e to a fa'' in the 1a' e of go'!( Theincrease! s m of mone* at %hich *o 1a' e the income means no more an! no #etter commo!itiesan! ser1ices than #efore() Conse ent'* %e are !ri1en to &go #ehin!) the 1a' ation #* in iringinto the p rchasing po%er of mone*+ an! so the a!option of the mone*-estimate of income !oesnot in the 'east re'ie1e s from the necessit* of consi!ering( the &rea') income( The in irer %hohas #een to'! that income consists of commo!ities an! ser1ices+ an! that it rises an! fa''s %ith the

antit* of those commo!ities an! ser1ices+ sti'' %ants to ,no% ho% that antit* is to #emeas re!(

.here commo!ities an! ser1ices of !i2erent ,in!s are concerne!+ there is c'ear'* no possi#i'it* ofcomparing the antities inte''igi#'* #* %eight+ # ',+ or n m#er( .e might sa* that a co''ection of

things consisting of one 'oaf of #rea!+ one po n! of #eef+ one pint of #eer+ an! one rai'%a* tic,et ise a' to ha'f of a co''ection of things consisting of t%o simi'ar 'oa1es of #rea!+ t%o simi'ar po n!sof #eef+ t%o simi'ar pints of #eer+ an! t%o simi'ar rai'%a* tic,ets( B t %e cannot ma,e an*statement a#o t the re'ati1e antities inc' !e! in t%o co''ections one of %hich consists+ as #efore+of one 'oaf+ one po n! of #eef+ one pint of #eer+ an! one rai'%a* tic,et+ an! the other co''ection ofthree 'ea1es+ ha'f a po n! of #eef+ an! t%o rai'%a* tic,ets( At "rst sight of the pro#'em %e ma*thin, %e can+ # t a moment6s re ection ma,es s see that the comparison %e then ha1e in o rmin!s is one of 1a' es+ not of antities(

If %e !rop antities an! compare 1a' es+ %e are satis"e! so 'ong as no !o #t is raise! as to thein1aria#i'it* of o r stan!ar!( At the same time an! p'ace o r stan!ar! %i'' a'%a*s &mean the same

thing) in regar! to the t%o co''ections of commo!ities an! ser1ices %e are consi!ering+ # t as soonas the p'aces !i2er+ an! sti'' more as soon as the times !i2er+ %e #egin to estion %hether themeas re of 1a' e means the same thing at the t%o p'aces or times( .e then in1aria#'* "n! that it!oes not( .hate1er stan!ar! #e ta,en+ at the one p'ace or time some commo!ities or ser1ices %i''#e %orth more of it+ an! others 'ess+ than at the other p'ace or time< it %i'' e1en often happen thatsome commo!ities or ser1ices %hich are %orth 'itt'e of it at one p'ace or time are %ho''*

nproc ra#'e #* the o2er of an* antit* of it at the other p'ace or time(

E1ent a''* %e "n! o rse'1es groping after a meas re of the goo! e2ect of the commo!ities an!ser1ices pon the persons %ho get them= %e "n! %e rea''* %ant to ,no% %hether a person or #o!*of persons %ith s ch an! s ch an &income) in po n!s ster'ing Dor consisting of s ch an! s chcommo!ities an! ser1ices is %hat %e s a''* ca'' as &%e'' o2) as another person or #o!* ofpersons %ith s ch an! s ch other income in po n!s ster'ing Dor consisting of s ch an! s ch othercommo!ities an! ser1ices at some other p'ace or time(


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Moreo1er+ recent economic ana'*sis has !ra%n attention to the fact that e1en %here antit* can#e meas re! #* %eight or # ',+ the e2ect of the en$o*ment of these commo!ities on the persons%ho en$o* them cannot #e regar!e! as proportionate to the antit*( Si0 'oa1es of #rea! cons me!per !a*+ it is pointe! o t+ %i'' not ma,e a man si0 times #etter o2 than one per !a*( E1en 5+ a*ear to #e spent as he p'eases %i'' not ma,e a man si0 times as %e'' o2 as if he ha! on'* 3+ a

*ear( 6.ith 5+ a *ear he %i'' not cons me si0 'oa1es instea! of one< #* intro! cing 1ariet* hecan retar! the fa'' of ti'it*+ # t he cannot a'together pre1ent it( .ith the 'arger income he m stspen! some of his po n!s ster'ing on more tri1ia' satisfactions than %o '! #e o#taine! #* the 'eastimportant po n!s spent o t of the 3+ a *ear(

In the 'ast fort* *ears it has conse ent'* #een the practice of economic teachers to !ea' more an!more %ith the 'timate res 'ts of the possession+ se+ an! cons mption of commo!ities an!ser1ices+ regar!ing these commo!ities an! ser1ices as the means to an en! rather than an en! inthemse'1es( So+ instea! of ha1ing o r attention !irecte! entire'* to o t%ar! o#$ects an! partic 'aractions+ %e "n! o rse'1es consi!ering & ti'it*) or &satisfaction() Nor is this a''( The !emocrati>ationof 'iterat re an! po'itica' science %hich has ta,en p'ace since the ear'ier part of the eighteenthcent r* has 'e! to the practice of #ringing into acco nt the pain an! ir,some toi' in1o'1e! in thecreation of positi1e ti'it* or satisfaction( Most economic %riters #efore A!am Smith+ an! someafter him+ regar!e! the interests of the &nation) in some %a* %hich ena#'e! them to e0c' !e theinterests of the &%or,ing c'asses+) as %e ca'' them( Most of the pain an! ir,some toi' of pro! ctionfa'' on this portion of the peop'e+ so that e0c' sion of the %or,ing c'asses from the nation 'e! to aneg'ect of a'' consi!eration of the pain an! ir,some toi' in1o'1e! in proc ring &%ea'th) for thenation( .hether the %or,ing c'asses sho '! 'a#o r for ten ho rs or for si0teen %as a estion to #e!etermine! so'e'* #* !isco1ering %hich n m#er of ho rs pro! ce! the greater amo nt ofcommo!ities( The i!ea of !e'i#erate'* sacri"cing positi1e ti'it* or satisfaction in or!er to ha1egreater 'eis re %as scarce'* tho ght of( If he a!1ocate! it at a''+ an economist %o '! regar! himse'f as !e'i#erate'* s ggesting an economic sacri"ce in or!er to sec re a non-economic # t greatergoo!( Most recent economists %o '! nhesitating'* re$ect this 1ie%+ an! regar! the economic

con!ition of a peop'e %ho ha! a certain amo nt of positi1e satisfactions an! %or,e! ten ho rs a!a* as s perior to that of a peop'e %ho ha! the same satisfactions of a positi1e ,in! # t %or,e!si0teen ho rs to o#tain them(

Th s the s #$ect-matter of economics has #ecome ti'it* or satisfaction minus !is ti'it* or!issatisfaction+ so that if %e retain &%ea'th) as its compen!io s !escription+ %e m st ta,e &%ea'th)as ha1ing re1erte! to its o'! meaning of a partic 'ar state or con!ition of h man #eings(

.hat that state or con!ition e0act'* is+ ho%e1er+ it is not 1er* eas* to sa*( It is compo n!e! ofsatisfactions an! !issatisfactions+ # t these are #* no means e0c' si1e'* economic< there arep'ent* of them %hich no one in his senses an! %ith an* regar! to the or!inar* sages of 'ang age

%o '! ca'' economic+ an! %hich no one %ith an* regar! to the con1enient !e'imitation of sciences%o '! attempt to treat in a %or, on economics(

Ti'' recent'* most economists+ if as,e! to !isting ish #et%een satisfactions of an economic an!neconomic character+ %o '! ha1e sai! that the economic co '! #e #o ght an! so'!+ an! a'so sai!

or imp'ie! that the non-economic co '! not #e #o ght an! so'!( There are+ ho%e1er+ se1era'!i;c 'ties to #e o1ercome #efore this can #e accepte! as f rnishing a criterion for !isting ishing%hat is act a''* treate! in economic %or,s from %hat is not( On the one han!+ it seems to e0c' !efrom economics man* things %hich are act a''* inc' !e! #* e1er* economist+ or %o '! #e inc' !e!#* him if he happene! to come across them( That the satisfaction %hich some h n!re!s oftho san!s of peop'e en$o* e1er* %ee, from the se of H*!e 9ar, is an economic one no economist%o '!< thin, of !en*ing+ # t it seems impossi#'e to !escri#e that satisfaction as e1en potentia''*e0changea#'e or s #$ect to p rchase an! sa'e( Again+ if it %ere !isco1ere! that Mars %as inha#ite!#* peop'e 'i,e s+ an! that the Martians fo n! satisfaction in foo!+ c'othes+ an! she'ter $ st as %e


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!o+ no economist %o '! #e pre1ente! from comparing the economic con!ition of the Martians %itho r o%n #* the f rther !isco1er* that the Martians ha! not esta#'ishe! a s*stem of pri1atepropert* nor practise! e0change( Get in that case co '! it reasona#'* #e sai! that the satisfactionsof #eing fe!+ c'othe!+ an! she'tere! %ere sa'ea#'e in Mars / An! if not+ %o '! the fact of simi'arthings #eing sa'ea#'e on the earth #e s ;cient to $ stif* s in regar!ing them as &potentia''*

sa'ea#'e) in Mars/ On the other han!+ the criterion of # *ing an! se''ing #rings man* things intoeconomics %hich are not common'* treate! there an! %hich it !oes not seem con1enient to treatthere( A 'arge tra!e has e0iste! since Dan! no !o #t #efore histor* #egan in s pp'*ing certainsatisfactions of a sens a' character %hich are ne1er regar!e! as economic goo!s( In! 'gences tocommit %hat %o '! other%ise #e regar!e! as o2ences against re'igion or mora'it* ha1e #een so'!+sometimes open'* an! a'most at a'' times n!er some thin !isg ise< no#o!* has regar!e! these aseconomic goo!s(

The economists %ho ha1e !isting ishe! the sphere of economics #* the ai! of this test seem aftera'' to ha1e treate! of $ st the same s #$ects as are !escri#e! as economic in the e1er*!a*con1ersation of e! cate! peop'e( In s ch con1ersation the term has no necessar* reference to# *ing an! se''ing+ nor to the potentia'it* of #eing #o ght an! so'!( .e ta', of &economic

estions+) &economic interests+) an! &the economic point of 1ie%() .e separate economicestions from re'igio s estions+ from 'iterar* estions+ from historica' estions+ an! from

h n!re!s of other estions( .e in ire %hether in some partic 'ar case the economic interests ofsome persons are oppose! to their po'itica' or their re'igio s interests( .e regar! some things as!esira#'e from an economic point of 1ie% %hich for some non-economic reasons %e re$ect as onthe %ho'e n!esira#'e(

In these an! simi'ar phrases the term economic con1e*s to o r min! an impression a#o t %hich %eha1e so 'itt'e !o #t that %e "n! it !i;c 't to !e"ne in the same %a* an! for the same reason as%e "n! it !i;c 't to e0p'ain %hat %e mean #* the terms ' e) or &re!() Confronte! s !!en'* #*the %or! ' e+) a %eather optimist thin,s of the s,*= some of s thin, of the #'oc, mar,e! ' e)

in the #o0 of paints %ith %hich %e !a##'e! %hen %e %ere chi'!ren= others of o r "rst or 'ast #' efroc,( Confronte! #* the %or! &economic+) one man ma* thin, "rst of coins+ another of "g res in#an,-#oo,s+ another of crops gro%ing in the "e'! an! catt'e #ro%sing in the mea!o%+ an! anotherof the morning cro%! going to its %or, in some great cit*( None of them %i'' come at a'' cre!ita#'*thro gh a cross-e0amination on an* !e"nition %hich the* ma* constr ct either on the sp r of themoment or after consi!era#'e re ection( B t if one e0amp'e after another %ere p t #efore them a''+the* %o '! #e fo n! to agree+ at an* rate 1er* near'*+ as to %hat things %ere to #e inc' !e! an!%hat e0c' !e! from the 'ist of things economic(

The* %o '! agree+ for instance+ that the estion &.as Mahomme! the 9rophet of :o! /) %as notan economic one+ an! that the prohi#ition of por, as h man foo! %as of economic interest( The*

%o '! agree that &?i! Bacon %rite Sha,espeare/) %as not an economic estion+ an! that thesatisfaction %hich #e'ie1ers in the cr*ptogram %o '! fee' if it %ere ni1ersa''* accepte! that Bacon!i! %rite Sha,espeare %o '! not #e an economic satisfaction+ %hi'e on the other han! the* %o '!agree that the contro1ers* %o '! ha1e an economic si!e if cop*right %ere perpet a' an! the!escen!ants of Sha,espeare an! Bacon %ere !isp ting the o%nership of the p'a*s(

If their e0amination %ere contin e!+ an! more an! more e0amp'es a!! ce!+ the* %o '! soon#egin to sa* that there is no &har! an! fast 'ine et%een economic an! non-economic things+ # tthat the one sha!es gra! a''* into the other+ as #' e nec,ties sha!e into green+ so that $ st asthere are some ties %hich some persons ca'' green %hi'e others ca'' them #' e+ a'tho gh e1er* oneis agree! that the s,* Din "ne %eather is #' e an! the grass green+ so there are some things %hichsome persons ca'' economic an! others non-economic+ a'tho gh e1er* one is agree! that thesatisfaction of h nger is economic an! that the satisfaction %hich a Ti#etan fanatic fee's %hen hehas himse'f imm re! for 'ife in the !ar, is non-economic(


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For or!inar* p rposes economic things can #est #e !escri#e! as economic+ $ st as #' e things can#est #e !escri#e! as #' e( B t if %e m st ha1e a secon!-#est !escription for the #ene"t of those%ho !o #t %hether the*( ,no% %hat is meant #* the term economic+ I thin, %e m st fa'' #ac, on&ha1ing to !o %ith the more materia' si!e of h man happiness+) or more short'*+() ha1ing to !o%ith materia' %e'fare()

The e0act phrase se! !oes not rea''* matter 1er* m ch+ since %e m st face+ an! face #o'!'*+ thefact that there is no precise 'ine #et%een economic an! non-economic satisfactions+ an! thereforethe pro1ince of economics cannot #e mar,e! o t #* a ro% of posts or a fence 'i,e a po'itica'territor* or a 'an!e! propert*( .e can procee! from the n!o #te!'* economic at one en! of thesca'e to the n!o #te!'* non-economic at the other en! %itho t "n!ing an*%here a fence to c'im#or a !itch to cross( Beginning %ith the satisfaction of h nger an! thirst as the most materia'+ %ecan arrange other satisfactions ro gh'* in or!er+ ti'' at 'ast %e arri1e at the most p re'* non-materia'+ s ch as that fe't #* a mart*r !*ing of star1ation rather than a#$ re his :o!( .e sha''ne1er #e a#'e to sa* that per cent( of s ch a mart*r6s %e'fare %as non-materia' an! ! e tore'igio s fer1o r an! the remaining I per cent( %as materia' an! ! e to the s staining e2ects of thefoo! he ate a %ee, #efore( .e sha'' ne1er #e a#'e to sa* of an* man that per cent( of his%e'fare came from foo!+ c'othing+ she'ter+ pict res+ an! concerts+ per cent( from the 'o1e of his%ife+ 3 per cent( from his s pport of his Ch rch+ an! 3 per cent( from his pri!e in his position aspresi!ent of the 'oca' part* ca c s( B t %e can ite 'egitimate'* an! sef ''* consi!er %hat %i''increase or !iminish the more materia' si!e of his happiness+ or short'*+( his materia' %e'fare or%ea'th+ an! it is ite con1enient to ha1e a separate !epartment of science+ ca''e! economics+ to!ea' %ith the ca ses of the materia' %e'fare or %ea'th of h man #eings+ consi!ere! #oth as a%ho'e+ an! as in!i1i! a's+ an! a'so in gro ps(

CHA9TER II

THE FUN?AMENTA7 CON?ITIONS OF .EA7TH FOR ISO7ATE? MAN AN? FOR SOCIETG

MOST of economics !ea's %ith man 'i1ing in societ*+ # t it is #est to #egin %ith the simp'estpossi#'e cases( I sha'' therefore !isregar! the sneers %hich ha1e sometimes #een !irecte! #*scio'ists against &the Cr soe econom*+) an! consi!er for a moment the con!itions on %hich themateria' %e'fare or %ea'th of iso'ate! man !epen!s(

O r Iso'ate! Man m st necessari'* #e some%hat of an a#straction( A!am+ as !escri#e! in :enesis+%as too m ch s rro n!e! #* s pernat ra' in ences to #e a sef ' t*pe for o r p rpose+ an! if %efe'' #ac, on e1o' tionar* theories+ %e sho '!+ I s ppose+ trace the h man race #ac, not to an

iso'ate! man+ or e1en to an iso'ate! pair an A!am %ith an E1e # t to something more 'i,e asociet* of chimpan>ees( Ro#inson Cr soe is not ite satisfactor*+ #eca se he starte! on his careerof iso'ation %ith a stoc, of ,no%'e!ge ac ire! in societar* e0istence+ to sa* nothing of theimportant too's an! other things %hich he sa1e! from the %rec,( Moreo1er+ his e2orts ! ring hisiso'ation %ere fre ent'* !irecte! to%ar!s a ret rn to the societar* e0istence from %hich he ha!acci!enta''* #ecome !i1orce!+ so that he !i! not a'%a*s act as a comp'ete'* iso'ate! man %o '!ha1e !one( In or!er to st !* pro"ta#'* the con!itions on %hich the materia' %e'fare of Iso'ate! Manrea''* !epen!+ %e can #est procee! #* imagining o r Cr soe as ha1ing #een a'%a*s the sa'eh man inha#itant of the g'o#e+ p tting #ehin! s an* in isiti1eness as to ho% he got there an! asto the pro#a#'e ! ration of his 'ife( .e ma* a'so s ppose that he has #* some means or other#ecome 'ocate! in the most s ita#'e sit ation for Iso'ate! Man(

In these circ mstances the %ea'th of the Iso'ate! Man %i'' !epen! "rst on his origina' a'ities+secon!'* on the e0tent to %hich he has impro1e! his po%ers an! his materia' s rro n!ings in the


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past+ thir!'* on the $ !gment %hich he e0ercises in the se of his act a' po%ers an! s rro n!ings+an! fo rth'* on his !e'i#erate choice #et%een %ea'th an! other %e'fare(

3( The proposition that the origina' or nat ra' a'ities of the Man are one of the con!itions on%hich his materia' %e'fare !epen!s nee!s 'itt'e e'a#oration( If strong in #o!* an! min! in

proportion to his ph*sica' nee!s+ he %i'' o#1io s'* #e a#'e to satisf* those nee!s more easi'* an!#etter( The on'* mista,e 'i,e'* to #e ma!e is one %hich is not of an* 1er* great practica'importance+ name'*+ the omission from consi!eration of the magnit !e of ph*sica' nee!s( .e areapt to regar! the stronger man as the s perior engine for the pro! ction of materia' %e'fare+%itho t m ch tho ght for his greater re irements in the matter of foo!+ c'othing+ an! she'ter( B t%e cannot reasona#'* s ppose that a 'arge man gets greater satisfaction from his 'arge mea'+ his'arge s it en c'othes+ an! his 'arge #e! than the sma''er man gets from his sma''er mea'+ c'othes+an! #e!( The most fa1o ra#'e con!ition+ therefore+ is not simp'* the greatest strength+ # t thegreatest strength in proportion to ph*sica' re irements(

( .hen %e start from an* partic 'ar point of time an! consi!er the materia' %e'fare of the man forthe ens ing perio!+ it is c'ear that m ch !epen!s on %hat he has !one in the past(

Da Un'ess he has a#an!one! himse'f to some sort of 1ice %hich has enfee#'e! him he %i'' a'mostnecessari'* ha1e impro1e! his po%ers( The fre ent repetition of !i2erent forms of man a' e0ertion%i'' ha1e ma!e him more e0pert %ith his han!s an! #o!*( He can scarce'* 'i1e %itho t o#ser1ing+an! can scarce'* forget a'' that he o#ser1es+ so that his ,no%'e!ge can scarce'* fai' to increase+an! this increase of ,no%'e!ge means an increase of po%er to gain man*+ at an* rate+ of the en!s%hich he is 'i,e'* to p t #efore himse'f( B t o1er an! a#o1e this mere'* inci!enta' ,in! ofimpro1ement+ the man ma* ha1e !e'i#erate'* set himse'f to impro1e his man a' or menta'!e0terit* an! to Increase his stoc, of sef ' ,no%'e!ge( At one stage of his !e1e'opment+ fore0amp'e+ he ma* ha1e traine! his min! to ca'c 'ate !istances an! his han! to act on the,no%'e!ge #* shooting at targets %hen no game presente! itse'f+ or he ma* ha1e !e'i#erate'*

e0perimente! %ith !i2erent ,in!s of ore %ith the intention of increasing his ,no%'e!ge of meta'san! their properties( The 'onger he 'i1es+ then+ the more e0pert an! the more %e''-informe! he is'i,e'* to #ecome(

Db In a!!ition to impro1ing himse'f+ o r Iso'ate! Man ma* a'so ha1e impro1e! his s rro n!ings+that is to sa*+ he ma* ha1e ma!e them more s ita#'e for his o%n p rposes( The o ter cr st of theearth itse'f ma* ha1e ha! its a'ities a'tere! #* him in s ch a %a* as to #ecome either #etter or%orse from his point of 1ie%( He ma* ha1e c 'ti1ate! the soi' in s ch a %a* as to !estro* man* ofits sef ' properties+ or #* caref ' management he ma* ha1e ma!e it more an! more s ita#'e forc 'ti1ation in the f t re( In ta,ing o t of the earth s ch things as stone+ minera's+ or c'a*+ it is tr e+he cannot e0pect to 'ea1e the 'an! as goo! as he fo n! it+ as he can %hen he ta,es a%a* crop after

crop of 1egeta#'e or anima' pro! ce( B t %hi'e some%hat %orsening the 'an!+ he ma* a'' the same#e impro1ing his s rro n!ings as a %ho'e( The stone or c'a* %hich he ta,es o t of the 'an! %i''certain'* #e not 'ess # t more sef ' to him %hen he has+ for e0amp'e+ fashione! them into the%a''s of a ho se %hich he %ants+ than the* %ere in their ra%+ n%or,e! state( It is s re'* #etter toha1e a "nishe! a0e-hea! than the mere iron ore necessar* to ma,e s ch an a0e-hea!(

There is no simp'e means #* %hich %e can meas re the e0tent or amo nt of impro1ement %hichthe Man ma* ha1e e2ecte! in his o t%ar! s rro n!ings( The ti'it* of the changes %hich ha1e#een e2ecte! is fre ent'* increase! or !iminishe!+ or a'together !estro*e!+ #* a'terations in thecirc mstances of the Man( .hen+ for e0amp'e+ he has ma!e a too'+ some change in his ,no%'e!gema* easi'* ma,e it more sef ' to him than it %as %hen he ma!e it+ %hi'e some other change in his,no%'e!ge ma* ca se him to 'a* it asi!e as tter'* se'ess( He has+ 'et s sa*+ %ith great 'a#o r! g a n m#er of pitfa''s in %hich to catch %i'! anima's+ an! these re ire e'a#orate re-roo"ng eachtime the* ha1e come into action( Then he !isco1ers some simp'er ,in! of trap+ %hich can #e re-set


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time after time %ith no apprecia#'e 'a#o r< s ch an in1ention %i'' entire'* !estro* the sef 'ness ofthe o'! pitfa''s+ an! the man %i'' ite right'*+ ite economica''*+ a''o% them to go to r in( Beforethe in1ention of the s perior trap the pitfa''s %ere sef ' o#$ects or &impro1ements)= after it the*are on'* tro #'esome ho'es in the gro n!( E1en in the a#sence of s ch changes in ,no%'e!ge an!other circ mstances+ it is not possi#'e to rec,on p the amo nt of impro1ements as a %ho'e an!

ma,e !e"nite antitati1e statements a#o t it+ s ch as that it has increase! #* K per cent( insome partic 'ar perio! of time< %e cannot ma,e s ch statements+ #eca se %e ha1e no means ofa!!ing together !i2erent ,in!s of impro1ements an! comparing their aggregate magnit !e %iththat of some other gro p( Ho%+ for e0amp'e+ sho '! %e a!! together a ro% of app'e-trees an! ap'o gh+ an! compare the magnit !e of the res 't .ith that of the s m of impro1ement represente!#* a !itch plus a #arn-!oor/ E1en %hen %e ha1e to consi!er precise'* simi'ar o#$ects+ their n m#er%i'' not a2or! s an* precise g i!e for estimating the magnit !e of the impro1ement in the man6smateria' s rro n!ings %hich the* act a''* represent( It %i'' #e #etter+ no !o #t+ for the Man to ha1et%o precise'* simi'ar spa!es than one on'*+ # t he certain'* %i'' not thin, t%o are t%ice as goo! asone an! he %i'' #e ite right(

K( The Man6s $ !gment in ma,ing se of his po%ers an! s rro n!ings is c'ear'* of greatimportance(

To ma,e se of them at a'' some e2ort is necessar*( Ho%e1er great his po%ers+ an! ho%e1ere0ce''ent his s rro n!ings+ the* %i'' not e1en fee! the Iso'ate! Man n'ess he e0erts himse'f tosome e0tent( E0ertion sho '! not #e 'ight'* prono nce! agreea#'e or !isagreea#'e in itse'f( Some,in!s of e0ertion are pro#a#'* a'%a*s !isagreea#'e to e1er* one %ho is o#'ige!+ in or!er to attainhis en!s+ to n!ergo them( B t most ,in!s of e0ertion are p'eas ra#'e %hen not carrie! too far+ an!!isagreea#'e on'* %hen carrie! #e*on! that point( .e get into the %a* of regar!ing a'' the e0ertionfor %hich %e are pai! #* other peop'e as !isagreea#'e+ #eca se %e %ant the pa*+ an! the e0ertionnecessar* to o#tain it presents itse'f to s as an o#stac'e+ an! an o#stac'e is necessari'*

np'easant an! something+ to #e !iminishe! if possi#'e( B t if %e %ere prisoners %itho t an*

chance of earning an*thing+ %e sho '! %e'come o r present emp'o*ments as most agreea#'ere'a0ation from the enn i of !oing nothing( On the other han!+ there is no !o #t that a'' ,in!s ofe0ertion #ecome np'easant if carrie! on for too 'ong a time at once( The most passionate !e1oteeof foot#a'' or e1en go'f !oes not %ish to &p'a*+) as %e ca'' it+ for eighteen ho rs a !a* an! threeh n!re!( an! si0t*-"1e !a*s in the *ear( To &p'a*) too 'ong #ecomes a &'a#o r() This is tr e+ nomatter ho% !i1ersi"e!( the e0ertion ma* #e= e1er* one re ires a certain amo nt of a#so' terepose in the !i rna' ro n!( Hence the Iso'ate! Man %o '! #e ite $ sti"e! in regar!ing e0ertionas a thing to #e re! ce! %here1er possi#'e( He co '! a'%a*s ha1e as m ch as he %ante! of it+ta,en as a %ho'e+ an! therefore he might as %e'' ha1e as 'itt'e as he co '! in getting eachpartic 'ar satisfaction( The "rst se of $ !gment is th s to ,eep e2ort as sma'' as possi#'e inproportion to an* gi1en res 't(

B t this is not a''( The Man %o '! a'so ha1e to see, a certain #a'ance #et%een e2ort an!satisfaction in regar! to each partic 'ar sort of satisfaction+ an! in regar! to the %ho'e ta,entogether( He %o '! ha1e to arrange his acti1it* an! repose so that it might *ie'! the ma0im m ofsatisfaction after a''o%ing for an* np'easantnesses in1o'1e! in the e0ertion itse'f or its inci!enta'accompaniments( If he ha! to !o this starting from a tabula rasa + it %o '! #e e0traor!inari'*!i;c 't( B t+ in fact+ ha#it %o '! he'p him= he %o '! ne1er ha1e to start a#so' te'* fresh+ so tospea,+ an! !eci!e a'' at once to gi1e so man* ho rs to sec ring anima' foo!+ so man* to each c'assof 1egeta#'e foo!+ so man* to ma,ing c'othes+ an! so on( .hat he %o '! ha1e to !o %o '! #emere'* to !eci!e %hether it %o '! gi1e him more satisfaction to ma,e some sma'' re! ction in thetime an! 'a#o r gi1en to one mo!e of pro! ction an! !i1ert the time an! 'a#o r to some other 'ineof pro! ction+ or+ as another choice+ to ,noc, o2 the sma'' amo nt of 'a#o r an! gi1e the time torepose( Of co rse e1en this might #e a !i;c 't estion( If it %ere a choice #et%een t%o !i2erent'ines of pro! ction+ the Man %o '! ha1e to %eigh not on'* the satisfactions o#taine!+ # t the


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agreea#'eness or !isagreea#'eness of the !i2erent ,in!s of 'a#o r in1o'1e!( If it %ere a choice#et%een the s a' e0ertion an! res 't on the one han!+ an! on the other han! s'ight'* 'ess e0ertionan! res 't together %ith s'ight'* more repose+ he %o '! sti'' ha1e to estimate three antities thesatisfaction foregone+ the 'a#o r remitte!+ an! the repose sec re!(

Conse ent'*+ m ch !epen!s on the acc rac* of the Man6s $ !gment as to the reg 'ation an!!istri# tion of his e2ort( .e ha1e no right to ass me+ as %e sometimes !o+ that his $ !gment iscertain'* infa''i#'e( In practica' 'ife %e ne1er thin, of !oing so( .e are a'%a*s prepare! to sa* thatone of o r frien!s o1er%or,s himse'f an! sho '! #e content %ith a some%hat sma''er income+ an!that another mis!istri# tes his energies+ gi1ing too m ch of his reso rces to sec re %hat %econsi!er a !isproportionate'* 'arge amo nt of some partic 'ar satisfaction(

This %o '! #e tr e+ e1en if there %ere no !ecisions to #e ma!e as to the !istri# tion of e2ort#et%een imme!iate an! more !istant en!s( The necessit* of ma,ing s ch !ecisions intro! ces af rther comp'ication( Not on'* has the Man to !eci!e ho% m ch to %or, an! ho% to !istri# te his'a#o r #et%een 1ario s ,in!s of satisfactions+ # t a'so to !eci!e ho% far he is to sacri"ce thepresent to the f t re or the f t re to the present( 1 In or!inar* circ mstances there are three greatchoices open to him+ an! t%o of them ma* #e a!opte! to a greater or 'ess !egree+ as he chooses(He ma* arrange his %or, an! cons mption so that at the en! of the perio! n!er consi!eration+the %ee, or the *ear or %hate1er 'ength of time %e "n! it con1enient to ta,e+ his position %ithregar! to the f t re is $ st the same as at the #eginning of the perio!+ or so that it is more or 'ess#etter+ or "na''*+ so that it is more or 'ess %orse( An* one of the three co rses ma* #e the $ !icio sone+ accor!ing to the circ mstances of the perio!( If the perio! is one of stress+ ! ring %hich theMan "n!s it 1er* !i;c 't mere'* to ,eep himse'f a'i1e+ if+ for e0amp'e+ he is i''+ he %i'' #e ite

$ sti"e! in a''o%ing his position %ith regar! to the f t re to !eteriorate= he %i'' #e right not totro #'e for the moment a#o t increasing his stores of ,no%'e!ge an! impro1ing his materia's rro n!ings< he %i'' #e $ sti"e! in re! cing his stores of cons ma#'e artic'es+ an! e1en in a''o%inghis too's+ his ho se+ an! his other e2ects to fa'' into some !isrepair( On the other han!+ %hen his

circ mstances are 1er* fa1o ra#'e+ %hen he has no !i;c 't* in ma,ing en!s meet+ he %i'' #e a foo'if he !oes not !e1ote some time an! 'a#o r to impro1ing his position+ either #* increasing hispo%ers or impro1ing his materia' s rro n!ings( He sho '! not on'* tr* to pro1i!e for nfort natecontingencies+ # t a'so to sec re that e1en in or!inar* times his 'ife %i'' #e easier in the f t re(.h*/ Beca se in the circ mstances !escri#e! the f t re gain %i'' #e greater than the presentsacri"ce( As his circ mstances for the moment are fa1o ra#'e+ he %i'' not 'ose 1er* m ch at thepresent #* !e1oting a portion of his 'a#o r to the f t re instea! of the present+ an! it is certainthat he %i'' ,no% some %a* of e0pen!ing 'a#o r %hich %i'' #e of permanent #ene"t to him( He,no%s+ for e0amp'e+ that if he can gi1e ten ho rs to some in1estigation into the ha#its of someanima' or the 'ocation of some p'ant+ the ,no%'e!ge %i'' #e as sef ' to him in the f t re as ane0tra ho r per %ee, of a1erage 'a#o r %o '! #e( Or it ma* #e that he ,no%s that ten ho rs spent

on the constr ction of some too' or other impro1ement of materia' s rro n!ings %i'' #e as sef ' asan e0tra ho r per %ee, of a1erage 'a#o r+ of co rse after a''o%ing for an* 'a#o r that ma* #enecessar* to men!+ an! %hen necessar* to rep'ace the too' or other impro1ement( That is to sa*+ten ho rs 'a#o r no% %i'' #ring in as m ch as "ft*-t%o ho rs per ann m in perpet it*( The Man6scirc mstances #eing fa1o ra#'e for the moment+ he %o '! #e foo'ish not to grasp at the 'argerret rn+ a'tho gh if he %ere e0treme'* pinche! for the moment+ so that e1er* min te !e1ote! tosatisf*ing present nee!s %as 1er* important+ he %o '! #e ite right to go on &'i1ing from han! tomo th) an! not to attempt to ma,e the impro1ement in his f t re con!ition(

Of co rse on'* a 'imite! amo nt of the Man6s time sho '! #e !e1ote! to the f t re+ e1en %hen it is!esira#'e that he sho '! so !e1ote some part of it( There are t%o reasons for 'imitation( In the "rstp'ace+ the more 'a#o r so !e1ote! the 'ess Din proportion to the amo nt of 'a#o r is the a!1antagein the f t re+ an! secon!'*+ the more 'a#o r so !e1ote! the greater Din proportion to the amo nt of 'a#o r is the 'oss in the present( For e0amp'e+ the Man ma* ,no% one %a* of spen!ing ten ho rs

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'a#o r %hich %i'' #ring in a ret rn+ so to spea,+ of an ho r a %ee, or "ft*-t%o ho rs per ann m+ # t%hen he comes to thin, of a secon! %a* he ma* not #e a#'e to "n! another %hich #rings in aret rn of more than perhaps ha'f an ho r per %ee,L i.e (+ t%ent*-si0 ho rs per ann m+ %hi'e the thir!%a* ma* on'* #ring "1e ho rs+ an! so on( On the other si!e+ a'so+ he has to remem#er that %hi'eta,ing ten ho rs o2 his 'a#o r for imme!iate nee!s ma* in1o'1e no 1er* se1ere pri1ation+ to ta,e

o2 a secon! ten ho rs %i'' #e a m ch more serio s matter+ an! the !e! ction of a thir! mightin1o'1e the 'oss of some a#so' te necessaries of 'ife( C'ear'* the Man m st stop some%here+ an!the !ecision %here to stop re ires the e0ercise of a nice $ !gment( The Man %i'' #e 'i,e'* to ma,ea mista,e+ e1en if he can foresee a'' the f t re ite acc rate'*( In fact+ he %i'' not #e a'%a*s righta#o t the f t re+ an! conse ent'* %e m st not e0pect that his !ecisions on this s #$ect %i''approach an*%here near to infa''i#i'it*(

It m st #e notice! that %e ha1e consi!ere! the Man6s materia' %e'fare as a %ho'e+ #eginning+ it istr e+ at some ar#itrari'* chosen point+ # t %itho t an* f rther 'imitation( .e ha1e s ppose! thepro#'em to #e to ma0imi>e the Man6s materia' %e'fare o1er a'' s #se ent time( If %e %ante! tocompare his %e'fare at one perio! %ith his %e'fare at some 'ater perio!+ sa* his %e'fare in 3%ith his %e'fare in 3 3 + %e sho '! ha1e to regar! the e0tent to %hich he tho ght it !esira#'e to%or, for the f t re instea! of for imme!iate res 'ts as one of the con!itions on %hich his materia'%e'fare for the partic 'ar perio! !epen!e!( :i1en a'' other con!itions+ it is c'ear that the Man %i''#e #etter or %orse o2 for the moment accor!ing as he !e1otes more or 'ess of his time an! 'a#o rto present grati"cations an! 'ess or more to impro1ing his position %ith regar! to the f t re(

( .e ha1e so far ass me! that the Man %i'' !esire to ma,e his materia' %e'fare as great aspossi#'e+ # t this is not ite certain( He ma* !e'i#erate'* sacri"ce some portion of materia'%e'fare in or!er to sec re some satisfaction %hich he regar!s as of a higher or!er( J( S( Mi'' in hisear'ier !a*s an! Bagehot thirt* or fort* *ears 'ater tho ght that po'itica' econom* m st ass me animaginar* #eing+ often ca''e! the &Economic Man+) %ho ha! no !esire to !o an*thing e0cept p rs e%ea'th( There is no nee! for ma,ing an* s ch n'i,e'* h*pothesis e0cept+ perhaps+ for simp'icit* at

the 1er* #eginning of o r e0position( It is ite eas* to s ppose that o r Iso'ate! Man ma*sometimes !e'i#erate'* prefer to !o things %hich !o not increase his materia' %e'fare( He ma*+ fore0amp'e+ thin, it !esira#'e to en!ea1o r to sec re happiness after !eath #* propitiating some i!o'or other !i1init* #* sco rging himse'f or # rning the #est of his anima's pon an a'tar( The more hechooses to act in %a*s 'i,e this+ the 'ess+ other things #eing e a'+ %i'' #e his materia' %e'fare or%ea'th(

The con!itions %hich go1ern the materia' %e'fare or %ea'th of Societ*Lof a n m#er of persons'i1ing in contact %ith each otherLare+ for the most part+ i!entica' %ith those %hich %o '! go1ern the%ea'th of Iso'ate! Man+ tho gh some comp'ications are intro! ce! #* association an! #* the merefact of n m#ers(

3( The origina' a'ities of the race are o#1io s'* $ st as important to Societ* as the origina'a'ities of the Man to Iso'ate! Man( If the %or'! ha! #een peop'e! %ith a race of men %ith on'*

one arm or %ith no e*es+ %e ma* ite con"!ent'* sa* that their materia' %e'fare %o '! not ha1e#een as great as o rs+ n'ess the !isa!1antage %as co nter#a'ance! #* some a!1antage %hich %e!o not possess( It is a'so tr e of Man in Societ*+ as %e sa% it %as of the Iso'ate! Man+ that the mostfa1o ra#'e con!ition is not simp'* the greatest strength+ # t the greatest strength in proportion toph*sica' re irements( It seems at "rst sight ite certain that %e sho '! not #e as %e'' o2 as %eare if %e %ere as sma'' as S%ift6s 7i'ip tians( B t %e #egin to see that the estion is not ite sosimp'e as %e s ppose!+ if %e as, o rse'1es %hether it is ite certain that %e sho '! #e m ch#etter o2 if %e %ere as #ig as the Bro#!ingnagians( .ith the strength of a Bro#!ingnagian %esho '! pres ma#'* ac ire a Bro#!ingnagian appetite+ an! so #e no #etter o2 than #efore+ n'esso r n m#ers %ere re! ce!+ for that might ma,e an important !i2erence(


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( Secon!'*+ if %e start from an* partic 'ar point of time an! consi!er the %ea'th of Societ* for theens ing perio!+ it is c'ear that the %ea'th of that perio! !epen!s on %hat has #een !one #* men inthe past(

Da The po%ers of the peop'e a'i1e at the time m st necessari'* ha1e n!ergone great change

since their infanc*+ not o%ing on'* to mere &gro%ing p+) # t a'so o%ing to practice of the 1ario sarts an! to !e'i#erate e! cation or !ra%ing o t of origina' po%ers( The con!itions of Societ* ma*c'ear'* #e m ch #etter in this respect at one time than at another( No !o #t the inha#itants ofE rope #efore the esta#'ishment of the Roman Empire %ere #etter e! cate! an! traine! for the%or, the* ha! to !o than %e are for that %or,+ an! the e0amp'e s ggests that it is !i;c 't to set

p an* a#so' te stan!ar! of e! cation goo! for a'' times an! p'aces( B t gi1en certain con!itions+no one can !o #t that it is possi#'e for the peop'e to #e #etter or %orse traine! for thosecon!itions+ an! that the !i2erence %i'' a2ect their materia' %e'fare(

More important sti'' than the !i2erence in s,i'' ! e to e! cation or training are the !i2erencesres 'ting from the 1ar*ing antit* of the ,no%'e!ge of %hich the peop'e ma* #e in possession(.hen %e 'oo, ro n! an! as, o rse'1es %hat are the main ca ses of the impro1ement %hich hasta,en p'ace in the materia' con!ition of the ci1i'i>e! %or'!+ %e cannot fai' to p t among the chief ofthem the increase of ,no%'e!ge( .e are a#'e to se the forces of nat re so m ch more e2ecti1e'*than o r remote ancestors+ not #eca se %e are nat ra''* c'e1erer nor #eca se %e are #ettere! cate! than the*+ # t #eca se each generation has ac ire! ne% ,no%'e!ge+ an! hastransmitte! it to posterit* at "rst #* %or! of mo th an! after%ar!s #* means of %ritten an! printe!s*m#o's+ so that the s m of acc m 'ate! ,no%'e!ge has #een perpet a''* increasing(

Db .e sa% that the materia' con!ition of o r Iso'ate! Man %o '! !epen! 'arge'* at an* one timeon %hat he ha! !one in pre1io s perio!s to impro1e his s rro n!ings( It is e a''* tr e that themateria' con!ition of Societ* m st !epen! 'arge'* on %hat has #een !one in the past #* men ina'tering the arrangement of matter on the face of the g'o#e( Ne0t to the increase of ,no%'e!ge the

impro1ement Dfrom man6s point of 1ie% of his materia' s rro n!ings is the greatest an! mosto#1io s ca se of his progress in materia' %e'fare( The face of the earth has #een a!apte! #* him tohis p rposes in man* %a*s( The S e> Cana' has practica''* a'tere! the geographica' sit ation of%ho'e continents+ an! the 9anama Cana' %i'' !o the same( B t these are in rea'it* # t sma'' thingscompare! %ith the immense net%or, of roa!s an! rai'%a*s %hich co1ers the ci1i'i>e! an! is#eginning to penetrate the nci1i'i>e! parts of the g'o#e( That net%or,+ again+ is # t a tri ecompare! %ith the a!aptation of mi''ions of s are mi'esLin fact+ the greater part of the 'an!s rface of the p'anetLto agric 't ra' p rposes( Then there is the enormo s stoc, of ho ses an!other # i'!ings in %hich peop'e 'i1e an! %or, an! store things %hich %i'' not #ear e0pos re to the%eather( Ho seho'! f rnit re+ too's an! machiner* of a'' ,in!s+ inc' !ing 1ehic'es an! ships+ formanother mass of meta'+ %oo!+ an! other materia's origina''* e0tracte! from the gro n! an! no%

fashione! to s it man6s p rposes( An! 'ast'*+ there is the stoc, of materia's an! foo! %hich has#een raise! from the gro n! an! %hich $t is necessar* to ,eep for the s pp'* of s !!enemergencies or to e a'i>e s pp'* o1er the !i2erent seasons( Each generation of men is heir to a''that has #een 'eft #* its pre!ecessors+ an! the 'egac* seems to #e 'arger at each transmission+ noton'* a#so' te'* # t in proportion to the n m#ers %ho inherit it( .e m st not e0pect to #e a#'e tomeas re the greatness of the 'egac* #* an* n merica' stan!ar!< %e cannot !o this an* #etter forSociet* than for the Iso'ate! Man( The ti'it* of changes in materia' s rro n!ings can no more #ee0presse! in n m#ers than the ti'it* of changes in ,no%'e!ge( It is sef ' to ha1e a ,no%'e!ge ofthe %a*s in %hich steam can #e ma!e to ser1e s= it is a'so sef ' to ha1e a stoc, of steam-engines an! of the things s ch as factories+ ships+ an! rai'roa!s+ %hich are necessar* for their%or,ing( No one s pposes that %e can ma,e n merica' statements a#o t the ti'it* of the,no%'e!ge %e se+ an! no one sho '! s ppose that %e can !o so a#o t the stoc, of sef ' o#$ects%hich %e se in connection %ith that ,no%'e!ge( If %e %ish to get some i!ea of ho% sef ' thestoc, is+ %e sho '! en!ea1o r to imagine %hat %o '! #e o r con!ition to-morro% if the %ho'e stoc,


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%ere s%ept a%a* to-night( 7et s tr* to rea'i>e %hat it %o '! #e 'i,e to ha1e no ,ni1es an! for,s toeat o r foo! %ith+ no ta#'es to p t it on+ no rooms to p t the ta#'es in+ no foo! rea!* in the 'ar!ers+the shops+ or the granaries+ no sheep+ no catt'e+ # t on'* a fe% %i'! pigs+ ra##its+ an! #ir!s+ norai'%a*s+ nor e1en roa!s+ scarce'* an* e!i#'e 1egeta#'esLnothing %hate1er e0cept a thic,'*%oo!e! an! 1er* s%amp* 'an!(

Of co rse m ch that is !one in the %a* of permanent a'teration of materia' s rro n!ings+ an! iss ppose! at the time to #e a permanent impro1ement+ e1ent a''* t rns o t to ha1e #een on'*temporari'* sef '+ # t a hea1* #a'ance to the goo! seems+ at an* rate in mo!ern times+ a'%a*s toremain+ an! this+ together %ith a perpet a' increase in the stoc, of non-permanent sef ' o#$ects%hich are rep'ace! #* p-to-!ate s #stit tes %hen the* %ear o t+ ren!ers the position of eachgeneration in regar! to materia' s rro n!ings more fa1o ra#'e than that of the 'ast(

K( The %ea'th of Societ*+ 'i,e that of the Iso'ate! Man+ %i'' o#1io s'* !epen! on the $ !gmente0ercise! in ma,ing se of its po%ers an! s rro n!ings(

E2ort+ or 'a#o r as it is common'* ca''e!+ is necessar* for the se of these po%ers an!s rro n!ings in the case of Societ* as in that of Iso'ate! Man( There is no more reason forprono ncing e2ort or 'a#o r to #e genera''* a goo! or an e1i' in the one case than in the other( B t%itho t regar!ing 'a#o r as essentia''* e1i'+ Societ*+ 'i,e the Iso'ate! Man+ is $ sti"e! in !esiring toshorten the 'a#o r re isite for the attainment of an* partic 'ar aim+ since it is a'%a*s possi#'e toha1e eno gh 'a#o r+ an! 'a#o r in e0cess of a certain antit* is an n!o #te! e1i'( Accor!ing'*+Societ*+ 'i,e the Iso'ate! Man+ in or!er to ma,e its materia' %e'fare or %ea'th as great as possi#'e+m st a!opt the easiest metho!s of attaining its en!s+ an! m st reg 'ate the %ho'e of its 'a#o r sothat it %or,s $ st p to the point at %hich the 'a#o r an! the pro! ce of the 'a#o r ta,en togetherDthe !isagreea#'eness of the 'a#o r+ if an*+ #eing !e! cte! from the agreea#'eness of the pro! ceca se the most satisfactor* res 't( Societ* m st at the same time !istri# te its tota' 'a#o r#et%een the 1ario s possi#'e channe's in the manner %hich %i'' #ring a#o t the #est res 't+ %hen

#oth the 'a#o r an! the pro! ce are ta,en into acco nt(

?i;c 't as this is for the Iso'ate! Man+ it is ten times more so for Societ*( The Iso'ate! Man has asing'e #rain to estimate the comparati1e a!1antages of a'' the !i2erent co rses= Societ* has nocommon #rain+ # t mi''ions of separate ones( To cast p %ith an* consi!era#'e approach toacc rac* the tota' p'eas re an! pain res 'ting from an* partic 'ar arrangement %o '! re ire,no%'e!ge far #e*on! that %hich co '! #e possesse! #* an* person or committee ser1e! #* themost perfect organi>ation %hich %e can concei1e( In practice+ of co rse+ Societ*+ 'i,e the Iso'ate!Man+ has ne1er to start from the #eginning an! !eci!e ho% m ch time or 'a#o r sha'' #e gi1en tothe pro! ction of foo!+ ho% m ch to c'othes+ an! so on( Some !istri# tion is in force+ an! a'' thathas to #e !eci!e! is %hether this !istri# tion sha'' #e s'ight'* a'tere! in one !irection or another(

B t e1en this is a 1er* !i;c 't matter+ in %hich the pro#a#i'it* of mista,e is enormo s(

The !i;c 't* of the Iso'ate! Man as to the !istri# tion of e2ort #et%een imme!iate an! !istanten!s is a'so present in the case of Societ*( The on'* !i2erence is that it is consi!era#'* greater(Iso'ate! Man+ as %e ha1e imagine! him+ %ith an in"nite'* 'ong ! ration of 'ife+ %o '! #e a#'e toestimate the !esira#i'it* of s,imping en$o*ments in the present in or!er to sec re more in thef t re far more correct'* than a societ* consisting of persons %ith a short ! ration of 'ife+ %ho ha1eto estimate the !esira#i'it* of s,imping their o%n en$o*ments in or!er to increase those of theirs ccessors( 7itt'e as a sing'e man ma* #e a#'e to compare the a!1antage of+ sa*+ 3 per cent( 'essthis *ear for himse'f compare! %ith I per cent( more in e1er* f t re *ear for himse'f+ he canperform that feat more easi'* an! acc rate'* than a n m#er of persons can compare 3 per cent('ess this *ear for themse'1es %ith 3 per cent( more in e1er* f t re *ear for s ch of themse'1es asma* happen to #e a'i1e an! the s ccessors of those %ho are !ea!( The* cannot estimate thestrength of the !esires of the f t re persons so %e'' as a man can estimate the strength of his o%n


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f t re !esires+ an! the* !o not ,no% %hat changes in n m#ers there ma* #e( The greater then m#ers in the f t re+ the greater+ ceteris paribus + the !esira#i'it* of present sa1ing( Sti'' f rther!i;c 't* is intro! ce! #* the fact that the n m#ers %i'' #e themse'1es a2ecte! #* the amo nt ofsa1ing( The more that is sa1e!+ the greater the pop 'ation of the f t re is 'i,e'* to #e(

Here+ as in regar! to the Iso'ate! Man+ %e m st remem#er that %e are thin,ing of the %ea'th ofSociet* from some point of time on%ar!+ ta,ing imme!iate an! more !istant f t re as a %ho'e( .emight+ of co rse+ ta,e some partic 'ar perio! of time+ s ch as a *ear+ an! as, o rse'1es on %hat!epen!s the %ea'th of Societ* for s ch perio!( In that case %e sho '! ha1e to regar! %ea'th as Dforthe time+ of co rse re! ce! #* an* s,imping of present en$o*ments for the p rpose of increasingf t re en$o*ments+ ho%e1er m ch the f t re en$o*ments might in the en! e0cee! those 'ost ! ringthe perio! consi!ere!(

( Societ*+ $ st as m ch as Iso'ate! Man+ ma* #e+ an! often is+ %i''ing to sacri"ce a certain amo ntof %ea'th in or!er to sec re some other en! %hich it+ or at an* rate the r 'ing part of it+ thin,sprefera#'e(

In a!!ition+ ho%e1er+ to these ca ses of 1ariation common to Iso'ate! Man an! Societ*+ %e ha1e toa!! three others a2ecting Societ* a'one(

( Tho gh the hea'th of Iso'ate! Man an! a'so of the in!i1i! a' mem#ers of Societ* ma* #eregar!e! as the res 't of origina' persona' a'ities an! %hat has #een !one in the past to impro1eor %orsen them+ *et in the case of Societ* hea'th seems to re ire separate c'assi"cation in so faras it a2ects the ! ration of %or,ing 'ife( A peop'e %i'' c'ear'* #e stronger an! more capa#'e ofpro! cing goo!s if a 'ess proportion of the aggregate n m#er of *ears 'i1e! are *ears of chi'!hoo!an! o'! age( It %o '! #e #etter for a'' to !ie at 4 than for ha'f to !ie at an! ha'f at = it %o '!#e #etter+ too+ for ha'f to !ie at an! the other ha'f at than for "1e o t of si0 to !ie at 3 an!the other at 5 (

Moreo1er+ the proportion of persons of %or,ing age in a pop 'ation at an* moment is a2ecte! noton'* #* this !i2erent !istri# tion of 'ifetime #et%een %or,ing an! other *ears ca se! #*!i2erences of morta'it*+ # t a'so #* increase an! !ecrease of pop 'ation( A pop 'ation increasing&nat ra''*)L i.e (+ #* e0cess of #irths o1er !eaths+ m st necessari'* ha1e+ ceteris paribus + a 'argerproportion of chi'!ren= if the increase has #een going on stea!i'* for a 'ong time+ the %ea,nessfrom this ca se %i'' to some e0tent #e co nter#a'ance! #* the sma''er proportion of o'!+ in"rmpeop'e( Simi'ar'* a !ecreasing pop 'ation %i'' ha1e a 'arger proportion of o'! peop'e+ an! if the!ecrease is contin o s+ the %ea,ness from this ca se ma* #e co nter#a'ance! #* the sma''erproportion of chi'!ren(

.e m st sa*+ then+ that Societ*6s %ea'th part'* !epen!s pon the age-composition of thepop 'ation(

5( It is a'so !epen!ent on the a!1antage ta,en of the #ene"ts !eri1a#'e from co-operation+ orcom#ination an! !i1ision of 'a#o r(

4( Fina''*+ it is !epen!ent on the nearness of pop 'ation to the most s ita#'e magnit !e( These 'astt%o hea!s %i'' #e !ea't %ith in the t%o fo''o%ing chapters(

[1] It is con1enient to ta', of &the present) as oppose! to &the f t re+) # t it m st #e remem#ere!that &the present) means nothing more than the near as oppose! to the !istant f t re(

CHA9TER III

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CO -O9ERATION +OR COMBINATION AN? ?I ISION OF 7ABOUR

A NUMBER of men 'i1ing in s ch circ mstances that the* can comm nicate %ith each other ma*+ ifthe* choose+ %or, together or co-operate( Co-operation+ inte''igent'* !irecte!+ enormo s'*increases their aggregate po%er of pro! cing the e2ects the* !esire(

The a!1antage of %hat has sometimes #een ca''e! &Simp'e Co-operation) the ,in! of co-operation %hich ta,es p'ace #et%een a n m#er of men %hen the* nite their forces in !oingprecise'* the same ,in! of %or, scarce'* nee!s !etai'e! e0position( T%o iso'ate! men %ithin hai'of each other %o '! o#1io s'* often #e $ sti"e! in a#an!oning their iso'ation in or!er to assist eachother in tas,s %hich %ere #e*on! the strength of a sing'e man # t %ithin that of t%o+ s ch as 'iftinga hea1* %eight+ or %hich co '! not #e accomp'ishe! ic,'* eno gh #* a sing'e man+ s ch as thegetting in of a crop of grain %hi'e the %eather ho'!s( Scienti"c !isc ssion an! interest re'atee0c' si1e'* to more comp'icate! forms of co-operation+ sometimes ca''e! &Comp'e0 Co-operation+)# t more s a''* &?i1ision of 7a#o r+) in %hich !i2erent ,in!s of %or, or 'a#o r are a''otte! to Dor&!i1i!e!) #et%een se1era' or man* !i2erent in!i1i! a's %ho( conscio s'* or nconscio s'*+ nite

their forces for the attainment of some en!(

3( The "rst of the a!1antages of !i1ision of 'a#o r is that it ena#'es man to ma,e the #est se ofthe 1ario s a'ities possesse! #* !i2erent parts of the s rface of the earth( If each man %or,e!entire'* #* himse'f+ he %o '! #e o#'ige! to get e1er*thing from a 1er* sma'' area( E1en if he%an!ere! a#o t+ an! manage! to a1oi! coming into fata' co''ision %ith other men in the co rse ofhis %an!erings+ he co '! not co1er 1er* m ch gro n!+ an! if he ha! a home to %hich he ret rne!e1er* night or e1en e1er* fe% !a*s+ his range %o '! #e so sma'' that he co '! on'* reach a sma''se'ection of the n mero s materia's %hich %e consi!er &necessaries of 'ife() E1en those men %ho%ere ' c,* eno gh to "n! themse'1es in %hat %o '! then #e consi!ere! the #est sit ations on theg'o#e+ %here a'' the #arest necessaries of 'ife an! a fe% ' 0 ries co '! #e o#taine!+ %o '! #econ"ne! to a 1er* fe% of the minera's an! other things %hich %e !ig or arr* from the earth( Thesit ations 'east s ita#'e for s ch a socia' or anti-socia' state+ %here the a1ai'a#'e se'ection ofmateria's is too sma''+ %o '! #e ite ninha#ita#'e( .ith !i1ision of 'a#o r+ on the other han!+ it#ecomes possi#'e to ma,e f '' se of a sit ation %hich is on'* goo! for the pro! ction of one or afe% artic'es or ser1ices+ as the Ran! is goo! for pro! cing go'! an! Jerse* for pro! cing ear'*potatoes(

The importance of this is o#1io s+ an! it is i'' strate! #* %e''-,no%n facts in the histor* of the%or'!( 9eop'es %hich ha1e #een con"ne! to the pro! cts of a sma'' area ha1e a'%a*s remaine! inthat con!ition %hich %e ca'' &primiti1e) or ar#aro s)< restricte! to a sma'' se'ection of materia's+the* ha1e ha! 'itt'e opport nit* of ma,ing mechanica' impro1ements+ e1en if the* ha! thenecessar* in1enti1e fac 't*( Ci1i'i>ation starte! %here comm nication+ an! conse ent'* co-operation+ %ere easiest+ an! so far as %e can go #ac, in histor*+ the peop'es %hich are no%ci1i'i>e! ha1e ha! a 'arge s pp'* of pro! cts #ro ght from !istant p'aces( Si'1er an! go'!+ fore0amp'e+ fo n! on'* on a fe% spots+ ha1e a'%a*s #een sprea! o1er the %ho'e area of ci1i'i>ation(

.e m st not thin, on'* of the impossi#i'it* of o#taining certain pro! cts from certain areas( Thereis a goo! !ea' more than that to #e consi!ere!( There are man* !egrees of !i;c 't* short of thein"nite !egree %hich is 'itera' impossi#i'it*( .e get co2ee from Bra>i'+ tea from Ce*'on+ an!#ananas from Teneri2e or Jamaica+ not #eca se it is a#so' te'* impossi#'e to gro% these things inEng'an!+ # t #eca se it is m ch more !i;c 't to gro% them here %here the soi' an! c'imate are notso s ita#'e( Soi's an! c'imates !i2er in s ch a %a* that the %ants of man,in! as a %ho'e cano#1io s'* #e #est satis"e! #* a certain concentration not mere'* of the in! stries %hich can on'*

#e carrie! on in partic 'ar p'aces+ # t a'so of a great man* others for %hich the circ mstances ofsome p'aces are more fa1o ra#'e than those of others( .hat is re ire! ma*+ perhaps+ #e easier


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graspe! if %e con"ne o r tho ght for the moment to the area of a sing'e farm %hich inc' !esse1era' soi's an! aspects( In s ch a case the c 'ti1ator %i'' consi!er these !i2erent soi's an!aspects+ an! !istri# te the 'an! #et%een !i2erent pro! cts in the %a* he thin,s %i'' #e #est on the%ho'e+ ta,ing e1er*thing into acco nt( It %o '! #e o#1io s'* the act of a ma!man to insist ongro%ing a 'itt'e of e1er*thing on each acre+ or to c t the farm p into sections for %heat+ mea!o%+

potatoes+ an! so on %ith no regar! to an*thing e0cept faci'it* of transport to the homestea!(Man,in! at 'arge is in m ch the same position< it %i'' "n! it a!1antageo s to concentrate each ofthe great ma$orit* of in! stries to some e0tent on partic 'ar areas+ a'tho gh this co rse in1o'1esmore 'a#o r of transport( The chief !i;c 't* %hich %e enco nter In e0ten!ing o r 1ie% from thesing'e farm to the %or'! arises from the fact that in !ea'ing %ith the sing'e farm %e s a''* acceptthe position of the homestea!+ an! conse ent'* a'so the !estination of the pro! ce+ as sett'e!once for a'' #* historica' circ mstances( .hen %e consi!er the %or'! at 'arge+ on the other han!+%e ha1e to a''o% for the fact that the 'ocation of man,in! is not "0e!( Conse ent'* the position ofthe cons mers cannot #e ta,en as gi1en= the estion of the concentration of partic 'ar ,in!s ofpro! ction in partic 'ar areas is ine0trica#'* inter t%ine! %ith the estion of the !istri# tion ofpop 'ation( To attac, the pro#'em in its most a#stract form+ %e sho '! s ppose o rse'1es a#ene1o'ent #eing %ith the Earth ninha#ite! #efore s an! its %ho'e pop 'ation in o r han! rea!*to #e p'ante! %here %e p'ease on its s rface an! to !o %hat %e or!er( Ho% sho '! %e then #estarrange the peop'e an! the in! stries/ The tas, %o '! certain'* #e a p >>'ing one+ # t %ithomniscience %e co '! so'1e it e0act'*+ an! the so' tion %o '! o#1io s'* in1o'1e a consi!era#'econcentration of in! stries an! of pop 'ation on partic 'ar areas( It %o '! pro#a#'* #e se'!om+ ife1er+ !esira#'e to concentrate the %ho'e pro! ction of an* partic 'ar commo!it* in a sing'e !istrict+since the !isa!1antage of ha1ing to transport the pro! ct to e1er* p'ace %here for an* reason it%as !esira#'e peop'e sho '! 'i1e %o '! se'!om #e o1er#a'ance! #* the s perior a'ities of an*one !istrict< for e0amp'e+ it might #e !esira#'e to p'ant a certain amo nt of cotton man fact re inSo th Caro'ina or Bom#a*+ a'tho gh neither of those p'aces %ere ite so s ita#'e for the act a'pro! ction+ consi!ere! apart from transport+ as 7ancashire( So concentration %o '! s a''* #e on'*consi!era#'e certain'* not n'imite!(

.e m st #e 1er* ca tio s a#o t accepting an* short an! ta,ing phrase for a s mmar* !escriptionof the a!1antage res 'ting from the 'oca' concentration of in! stries( To sa*+ for instance+ that it&ena#'es e1er*thing to #e !one in the p'ace #est "tte! for the p rpose) is not satisfactor*+ since itoften happens that one p'ace is the #est "tte! for carr*ing on t%o+ or e1en more than t%o+ !i2erentin! stries( Then+ as there is not room for more than one+ the others m st #e p'ace! not in the #est+# t in the secon! or e1en thir!+ fo rth+ "fth+ or si0th #est p'ace( In! stries m st #e arrange! in%hat is the #est %a* on the %ho'e+ ta,ing into consi!eration a'' of them an! a'so the amenitiesen$o*e! #* the cons mer so far as these are to #e consi!ere! separate'* from the in! stries( This'ast pro1iso+ concerning amenities+ is necessar* in or!er to pre1ent s ch things as the !iscomfort of 'i1ing in a #a! c'imate from #eing o1er'oo,e!( A concentration of in! stries %hich %as e0treme'*

goo! so far as the mere pro! ct of the in! stries %as concerne! %o '! #e a 1er* #a! one if itcompe''e! a 'arge part of the peop'e of the %or'! to 'i1e on the Antarctic continent( If %e a!here tothe phrase a!opte! at the #eginning of this section+ an! sa* that co-operation ena#'es man toma,e the #est se of the 1ario s a'ities possesse! #* !i2erent parts of the earth6s s rface+ %eseem to #e on fair'* safe gro n!(

In practice+ of co rse+ the estion is ne1er presente! as a %ho'e( The past co rse of the %or'!6s!e1e'opment has res 'te! in a certain !istri# tion of peop'e an! in! stries o1er the face of theearth+ an! it is o#1io s'* n!esira#'e to ma,e+ or rather to attempt to ma,e+ an* 1er* enormo schange in it s !!en'*+ e1en if %e thin, %e ,no% that a %ho''* !i2erent arrangement %o '! #e #estif %e %ere to start %ith a tabula rasa ( .e are act a''* more in the position of the farmer %ementione! $ st no%+ %ho comes into possession of a farm a'rea!* pro1i!e! %ith a homestea! in apartic 'ar spot+ an! a'rea!* !i1i!e! into "e'!s+ each of %hich has ha! certain a'ities gi1en to it#* the past 'a#o r of man+ so that it is more appropriate for some p rposes an! 'ess appropriate


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for others than it %o '! ha1e #een if 'eft in its nat ra' state( S ch a c 'ti1ator has not to consi!erthe 1er* !i;c 't estions of %hat %o '! #e the #est position for the homestea! an! %hat %o '!#e the #est !istri# tion of the %ho'e area of the farm #et%een !i2erent ,in!s of c 'ti1ation if heco '!+ as he %o '! sa*+ &start the %ho'e thing fresh+) # t on'* the m ch easier estions of%hether it %o '! pa* him to ta,e !o%n an! remo1e the homestea! to another sit ation an! a'ter

the ac ire! a'ities of a'' or some of the "e'!s+ as+ for instance+ #* p'o ghing p the past re an!con1erting the mea!o%s to ara#'e c 'ti1ation+ or #* remo1ing some of the he!ges or %a''s in or!erto re!istri# te the area on ne% princip'es( In the same %a*+ if %e ta,e the %or'! at 'arge at an*partic 'ar moment+ %e "n! peop'e a'rea!* sett'e! in certain proportions o1er its area+ %ith theirhomes an! %or,-p'aces a'rea!* # i't+ an! the 'an!+ or most of it+ a'rea!* a!apte! #* the past'a#o r of man,in! to 1ario s ses( .e "n!+ too+ that the pop 'ation of the g'o#e+ consists of1ario s races+ for the most part concentrate! on partic 'ar continents an! in partic 'ar co ntries+an! that these races are of 1er* 1ario s po%ers or in 1er* 1ario s stages of !e1e'opment( It %o '!o#1io s'* #e impossi#'e+ an! n!esira#'e if it %ere possi#'e+ to ma,e an* great+ s !!enre!istri# tion of these peop'e+ their homes+ an! their in! stries( A'' that man,in! has to !o is tochange things 1er* gra! a''* in the right !irection( It %as+ for e0amp'e+ ne1er necessar* to remo1ethe iron-%or,ers of S sse0 or the %oo''en-%or,ers of .i'tshire to Gor,shire< the re!istri# tion %as

iet'* accomp'ishe! #* the rise an! gro%th of these occ pations in Gor,shire+ co p'e! %ith the!*ing o t of the iron-%or,ers in S sse0 an! the a#sence of increase among the %oo''en-%or,ers of.i'ts(

The names &territoria' !i1ision of 'a#o r) an! &'oca'isation of in! str*) ha1e sometimes #eenapp'ie! to co-operation %hich in1o'1es the concentration or+ as perhaps it %o '! #e safer to sa*+the ne a' !istri# tion of in! stries on the face of the g'o#e(

( The secon! great a!1antage of !i1ision of 'a#o r is that it ena#'es 'a#o r to #e so !istri# te!#et%een !i2erent persons that their origina' or nat ra' a'ities ma* #e #est ti'ise!( Accor!ing tothe o'! !istich+ &A!am !e'1e! an! E1e span+) # t this is a fo rteenth cent r* anachronism( Mo!ern

research rather s ggests the pro#a#i'it* of A!am ha1ing #een a thoro gh &gent'eman) of sportingproc'i1ities+ %hi'e E1e !i! an* hea1* %or, %hich ha! to #e !one( There is not m ch reason for#e'ie1ing that primiti1e man arrange! co-operation in the most satisfactor* %a* so far as thisa!1antage is concerne!= the strength of the strong %as apt to #e ti'ise! not in carr*ing thehea1iest # r!ens+ # t in forcing them on the #ac,s of the %ea,er( Ne1erthe'ess+ at an* rate intimes of stress+ the a!1antage of !istri# ting the %ho'e of the %or, to #e !one among the o'! men+the *o ng men+ the %omen+ an! the chi'!ren in s ch a %a* as to ma,e the #est se of theirrespecti1e po%ers m st ha1e #een apparent e1en to the most primiti1e #ar#arians( A 1er* 'itt'econsi!eration is necessar* to ma,e s see that this ro gh !i1ision can #e impro1e! #* ta,ing intoacco nt the 1ario s nat ra' a'ities of the !i2erent persons in each of the fo r c'asses( In eachc'ass %e "n! great an! 'itt'e strength an! stat re+ great an! 'itt'e menta' a#i'it*( E0amining sti''

more min te'*+ %e "n! that some ha1e the partic 'ar strength of min! or #o!* appropriate forsome partic 'ar ,in!s of %or,+ %hi'e others ha1e the strength re ire! for other ,in!s of %or,(O#1io s'* it %i'' #e #etter to !i1i!e the %ho'e of the %or, to #e !one #et%een a'' the %or,ersconcerne! in s ch a %a* that the %or, re iring great strength is gi1en to the strong+ %or,re iring !e0terit* of min! to the c'e1er+ an! so on+ as far as possi#'e( The pro1iso &as far aspossi#'e) is necessar* #eca se+ $ st as it is not tr e to sa* e1er*thing m st #e !one in the p'ace#est "tte! for it+ so it is not tr e to sa* e1er*thing m st #e !one #* the person #est "tte! for it(Often the person #est "tte! for one ,in! of %or, %i'' a'so #e the #est "tte! for another ,in! of %or,or for se1era' other ,in!s< he m st then #e a''otte! the 'a#o r %hich it is #est he sho '! perform%hen the specia' capa#i'ities of a'' the %or,ers+ inc' !ing himse'f+ are ta,en into consi!eration(Some of the %or, %i'' then necessari'* #e a''otte! not to the person #est "tte! for it+ # t to thesecon!+ thir!+ fo rth+ an! "fth #est "tte!(


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In practice this a!1antage of !i1ision of 'a#o r is ine0trica#'* mi0e! p %ith the thir!+ to %hich %eno% procee!(

K( The thir! a!1antage of !i1ision of 'a#o r 'ies in the fact that it ena#'es m ch greater s,i'' an!!e0terit* of han! an! #rain to #e ac ire! for each of the 1ario s occ pations( &Jac, of a'' tra!es)

is pro1er#ia''* &master of none() A person %ho ha! to s pp'* a'' his o%n nee!s %o '! ha1e to !o soman* things that he co '! not e0pect practice to ma,e him perfect at an* of them( .hen !i2erent,in!s of 'a#o r are a''otte! to !i2erent persons+ so that the %ho'e or greater part of the %or,ingtime of each is gi1en to one or at an* rate a fe% ,in!s of 'a#o r+ each ac ires in a high !egreethat specia' !e0terit* re ire! for his partic 'ar %or, %hich is o#taine! #* practice( F rthermore+ it#ecomes possi#'e to gi1e to each person the perhaps more important ,in! of s,i'' an! !e0terit*%hich is to #e o#taine! #* e! cation or !e'i#erate training( H man 'ife is far too short to ma,e it%orth %hi'e to gi1e in!i1i! a's the e'a#orate training necessar* for more than one of the more!i;c 't emp'o*ments( To train a man a!e ate'* for one of them ta,es a 'arge s'ice o t of his 'ife(E1i!ent'* there is great econom* in training each person for at most a 1er* fe% emp'o*ments( Thisis specia''* remar,a#'e in %hat is genera''* ca''e! &scienti"c research() In mo!ern times !isco1eriesof ne% means of ti'i>ing nat ra' forces are not to an* great e0tent ma!e #* acci!ent+ # t are forthe most part the res 't of in1estigations %hich co '! on'* #e carrie! on s ccessf ''* #* men %hoha1e spent not *ears+ # t !eca!es+ in #eing traine! an! training themse'1es(

This a!1antage is necessari'* mi0e! p %ith the secon!+ #eca se %hen once partic 'ar a'itiesha1e #een ac ire!+ it !oes not matter %hether the* ha1e #een ac ire! #* training an! practiceor are the res 't of &origina') or &nat ra') characteristics( At an* partic 'ar moment %e "n! thepersons %ho form the pop 'ation of the g'o#e en!o%e! #* nat re or e! cation %ith certain

a'ities+ an! the pro#'em #efore man,in! is to ma,e the #est se of these a'ities+ regar!'ess oftheir origin(

So it m st often happen that persons %hose nat ra' or origina' a'ities mar,e! them o t for some

one occ pation can #est #e retaine! in some other occ pation for %hich the* ha1e as a matter offact #een traine!( To sec re the f ''est a!1antage of the possi#i'it* of !i1i!ing 'a#o r accor!ing tothe nat ra' a'ities of the %or,ers it is necessar* to !istri# te the re ire! e! cation an! trainingin the #est manner( Un!er an* concei1a#'e circ mstances this %o '! #e a !i;c 't thing to !o+ e1enif the f t re co '! #e e0act'* foreseen in a'' its !etai's( B t the f t re cannot #e e0act'* foreseen+an! this increases the !i;c 't* of sec ring e1en an appro0imation to a correct !istri# tion ofpersons #et%een the 1ario s occ pations in accor!ance %ith their nat ra' an! ac ire!characteristics(

( The fo rth a!1antage of !i1ision of 'a#o r is that it great'* faci'itates the ac isition an!retention of the s m of ,no%'e!ge %hich is transmissi#'e from one generation to another( This is

ite !istinct from the a!1antage of s,i'' an! !e0terit* $ st !isc sse!( S,i'' an! !e0terit* ena#'epeop'e to se ,no%n processes e2ecti1e'*+ # t ,no%'e!ge re1ea's the processes themse'1es(.itho t !i1ision of 'a#o r the in1entions an! !isco1eries %hich ha1e ma!e mo!ern man6s po%ero1er the forces of nat re so m ch greater than that of his remote ancestors co '! not ha1e #eenma!e+ #eca se no man %o '! ha1e ha! time to specia'i>e s ;cient'* in the partic 'ar 'ines ofst !* re ire!( .hen the ,no%'e!ge has #een once ac ire!+ it %o '! often #e 'ost if it %ere notfor the e0istence of #oo,s an! instr ments %hich co '! not #e pro! ce! %itho t !i1ision of 'a#o r(In other cases the retention of the ,no%'e!ge in the %or'! is on'* e2ecte! #* means of thee0ertions of a c'ass of e! cators+ %hich+ again+ co '! not e0ist in the a#sence of !i1ision of 'a#o r(

( The "fth a!1antage of !i1ision of 'a#o r is that it economises too's an! machiner* of a'' ,in!s+inc' !ing the # i'!ings in %hich %or, is carrie! on( B* this %e mean that it ma,es a gi1en amo ntof machiner* &go farther+) or #e more e2ecti1e+ an! so ma,es it a!1antageo s to man,in! topro1i!e itse'f %ith machiner* %hich %o '! other%ise #e too cost'*( E1er* one has e0perience!


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!i;c 'ties from the %ant of appropriate too's %hen he has attempte! ite simp'e $o#s o tsi!e hiso%n tra!e or profession( &Jac, of a'' tra!es) is not on'* ns,i'f '+ # t a'so i''-pro1i!e! %ith too's(E1i!ent'* if e1er* one ha! to !o a'' ,in!s of %or,+ it %o '! ha1e to #e !one for the most part %ith1er* m ch 'ess e2ecti1e too's an! machiner* than at present( As things are+ these things can #e'i#era''* pro1i!e!+ e1en %hen cost'*+ #eca se the !i1ision of 'a#o r a''o%s them to #e ,ept in

contin o s se+ %hich %o '! #e impossi#'e if e1er* one ha! a comp'ete e ipment of each(

CHA9TER I

9O9U7ATION

T O the Iso'ate! Man in possession of the %ho'e %or'! there co '! #e no estion of 9op 'ation oftoo man* or too fe% h man #eings( If %e s ppose the %or'! inha#ite! #* 'arge n m#ers of iso'ate!men+ men that is to sa* %ho !i! not co-operate+ the estion %o '! #e present+ # t in a 1er*simp'e form( Each man co '! on'* #e #ene"te! #* the e0istence an! conse ent actions of theothers in an inci!enta' %a*+ as+ for e0amp'e+ he %o '! #e #ene"te! #* their ,i''ing o2 tigers or

sna,es to protect themse'1es( On the other han!+ he %o '! #e in$ re! #* their occ pation of 'an!an! catching of #easts %hich %o '! #e sef ' to him+ an! the greater their n m#ers the %orse hisposition %o '! #e< o#1io s'*+ the more n mero s the h man #eings+ the 'ess 'an! there %o '! #efor each+ so that each man %o '! ha1e a sma''er comman! of space an! materia's for agric 't rean! other in! str*( It %o '! seem pro#a#'e that this !isa!1antage of 'arge n m#ers %o '! m chmore than co nter#a'ance its inci!enta' a!1antages in a'' or!inar* circ mstances(

The e0istence of co-operation mo!i"es the sit ation 1er* great'* %itho t ma,ing an* f n!amenta'a'teration( The a!1antage of ha1ing a n m#er of neigh#o rs #ecomes more than a matter offree!om from attac, #* %i'! #easts ,i''e! #* those neigh#o rs entire'* for their o%n p rposes( Co-operation #eing esta#'ishe!+ peop'e en$o* the a!1antages of it+ %hich %e ha1e a'rea!* !escri#e!+

an! the more peop'e there are the greater can #e the a!1antages !eri1e! from it( B t there m sta'%a*s #e a point at %hich the a!1antages are $ st co nter#a'ance!+ an! #e*on! %hich the* aremore than co nter#a'ance!+ #* the !isa!1antage of 'ess space an! materia's per man( The!isa!1antage of p tting &too man*) peop'e on a gi1en space of gro n! has #een o#ser1e! fromthe 1er* ear'iest times( &A#ram+) %e are to'!+ &%as 1er* rich in catt'eP an! 7ot a'so+ %hich %ent%ith A#ram+ ha! oc,s an! her!s an! tents+ an! the 'an! %as not a#'e to #ear them+ that the*might !%e'' togetherP an! the* separate! themse'1es the one from the other() If peop'e ha!imagine! the* co '! 'i1e in n'imite! n m#ers on an* gi1en area the* %o '! ha1e s ee>e!themse'1es a'' into a ferti'e "e'! $ st o tsi!e the :ar!en of E!en+ or on the s'ope of Ararat+ or%here1er the origina' home of the h man race ma* ha1e #een+ instea! of sprea!ing a'' o1er theg'o#e( If it is th s o#1io s'* possi#'e to ha1e o1er pop 'ation on a portion of the earth6s s rface+ itm st a'so #e possi#'e to ha1e it on the earth as a %ho'e+ %hich is on'* ma!e p of its se1era' parts(

9 t in this %a* the theor* of pop 'ation seems to #e 'itt'e more than a 1er* o#1io s genera'i>ation%hich scarce'* a!mits of !isc ssion( B t it has a rather comp'icate! histor*+ %itho t some,no%'e!ge of %hich it is !i;c 't to n!erstan! the form %hich mo!ern !isc ssion of the s #$ect

s a''* ta,es in economic %or,s(

.e nee! not go #ac, 1er* far( The ancient :ree, phi'osophers regar!e! pop 'ation from a point of1ie% %hich %as ite !i2erent from that of the mo!ern economist( The* %ere intereste! in %hatare ca''e! po'itica' rather than economic estions+ an! their po'itics %ere the po'itics of sma'' cit*states( So the* in ire! ho% man* peop'e co '! #e proper'* go1erne! in a cit* state+ # t not ho%man* sho '! 'i1e on a gi1en space of 'an! in or!er to #ring a#o t the #est economic res 'ts( The

pop 'ation of an* consi!era#'e territories ,no%n to them pro#a#'* !i! not increase percepti#'*eno gh to ma,e them as, %hether it sho '! e1er stop+ an! if so+ %hen( In the Mi!!'e Ages+ too+


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thro gho t E rope pop 'ation !i! not increase fast eno gh to ma,e peop'e thin, a#o t theestion %hether it %as !esira#'e that it sho '! go on increasing in!e"nite'*( .hat %e "n! is 1er*

fre ent comp'aints of !epop 'ation co che! in s ch a form as to imp'* that no one co '! possi#'*imagine !epop 'ation to #e a goo! thing( In the se1enteenth cent r* gro%th of pop 'ation %as1isi#'e in Eng'an!+ an! persons intereste! in the co'oni>ation of irginia trie! to sho% that it %o '!

#e m ch #etter if 'arge n m#ers of peop'e %ere shippe! across the At'antic+ # t their arg ments!i! not 'ea! to the emergence of an* genera' theor*( In the eighteenth cent r* the great %ars 'e!each nation to !esire the 'argest possi#'e pop 'ation %itho t tho ght for the economicconse ences(

As one %ho %rote to%ar!s the c'ose of that cent r* o#ser1es+ &9op 'ationQ 9op 'ationQ 9op 'ationat a'' e1entsQ) %as the ni1ersa' cr* thro gho t E rope(

The histor* of the pop 'ation theor*+ in fact+ on'* goes #ac, to the mi!!'e of the eighteenthcent r*+ %hen its origin is to #e fo n! in the contro1ers* %hich then too, p'ace #et%een certainscho'ars a#o t the pop 'ation of the %or'!+ or rather the &pop 'o sness of ancient nations() Some%riters conten!e! that the n m#er of peop'e %as m ch greater in ancient than in mo!ern times(Others+ among %hom H me %as pre-eminent+ too, the opposite 1ie%( It %as on'* nat ra' that someof the !isp tants sho '!+ in the co rse of !isc ssion+ hit on the p'an of enforcing some arg ment #*sho%ing ho% rapi!'* pop 'ation %o '! increase if h man fec n!it* ha! f '' scope an! morta'it*%ere norma'( Ro#ert .a''ace !i! this in 34 K %ith the o#$ect of sho%ing that there %as no !i;c 't*in s pposing that the pop 'ation ha! increase! so m ch #et%een the ?e' ge an! the time ofA'e0an!er the :reat as to #e greater at the en! of that perio! than it act a''* %as in the eighteenthcent r*( He constr cte! a ta#'e sho%ing that if %e s ppose si0 chi'!ren to a marriage an! amorta'it* %hich !estro*s t%o of them #efore the* ha1e time to #ecome fathers an! mothers+ thetota' pop 'ation %i'' increase in 3+ KK *ears from t%o persons to o1er fo r h n!re! an! t%e'1emi''iar!s D 3 + K35+ 5 + 35 ( S ch a ta#'e ma,es it 1er* o#1io s that+ as .a''ace sa*s+ &there hasne1er #een s ch a n m#er of inha#itants on the earth at an* one point of time+ as might ha1e

#een easi'* raise! #* the pro'i"c 1irt e of man,in!() It a'so 'ea!s to the in ir* &.hat are thecirc mstances %hich ha1e represse! the gro%th of pop 'ation /) an! to the f rther in ir* &Canthes

Wealth A Brief Explanation of the Causes of Economic Wealth (London P.S. King and Son, 1922).docx

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Transcript of Wealth A Brief Explanation of the Causes of Economic Wealth (London P.S. King and Son, 1922).docx