Sir James Steuart, 3rd Baronet of Goodtrees and eventually 7th Baronet of Coltness; late in life In Steuart published An Inquiry into the Principles of Political Economy, the first book by a Scottish economist with ‘political economy’ in the. An Inquiry Into the Principles of Political Economy, Volume 1. Front Cover · James Steuart. Being an , Volume 1 · Sir James Steuart Full view – . An Inquiry Into the Principles of Political Economy, Volume 1. Front Cover. James Stewart. Being an , Volume 2 · Sir James Steuart Full view –

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A Dictionary of Economicsv. Read volume one of this book in Google Books. Economyy accurately, while on the Continent, Steuart had imbibed the sophisticated Enlightenment Mercantilism that was dconomy the air — particularly, German Neo-Cameralism — which combined a legal-statist approach with a “natural” approach to economics. We therefore considered the industrious, who are the providers, and the luxurious, who are the consumers, as children of the same family, and as being under the care of the same father.

Cadell, in the Strand.

The theft encouraged among the Lacedemonians was calculated to make them artful and dextrous; and contained not the smallest tincture of vice. These I have hitherto considered as advantageous to those classes only who are made to subsist by them; I reserve for another occasion the pointing out how they influence the imposition of taxes, and how the abuse of consumption in the rich may affect the prosperity of a state.

This surely is the highest degree of dependence. I do not say it is hereby hurt; this will depend upon the use made of such prerogatives. Some even considered it to be or of the first full-fledged economics treatises to appear anywhere. Under the feudal form of government, liberty and independence were confined to the nobility. The greater the extent of foreign trade in any nation is, the lower these standards must be kept; the less the extent of it is, the higher they may be allowed to rise.


He destroyed all inequality at one stroke. Security, ease, and happiness, therefore, are not inseparable concomitants of trade and industry.

Thirdly, If the produce of industry consumed in a country surpass the steuary of those who do not work, the balance due by the consumers must be paid to the suppliers by a proportional alienation of their funds.

Along the way, inSteuart wrote his paper on the grain trade published posthumously in The whole youth of Sparta was educated not as the children of their parents, but of the state. Miscellaneous Observations upon Agriculture and Population. Every branch of industry was proscribed to the citizens. Navigation menu Personal tools Log in.

HET: Sir James Steuart

prinnciples The first, That in a country entirely taken up with the object of foreign trade, no competition should be allowed to come from abroad for articles of the first necessity, and principally for food, so as to raise prices beyond a certain standard. This page off last edited on 29 Novemberat They enjoyed ease in the most supreme degree; they were abundantly provided with every necessary of life; although, I confess, the enjoyment of these, in so austere a manner, would not be relished by any modern society.

Besides, when we see that the freemen themselves were obliged to quit the country the moment their numbers exceeded a certain standard, it was not to be expected, that useless slaves should be permitted to multiply at discretion.

Arbitrary power never can be fo for if it be arbitrary, it may be turned against the monarch, as well as against the subject. There luxury was looked on with a favourable eye, and every augmentation of superfluity was considered as a method of princoples population. Sir James Steuart, Of the great Advantage of combining a well digested Theory and a perfect Knowledge of Facts with the practical Part of Government, in order to make a People multiply Chap.

Steuart was promptly dispatched as an emissary to France on politucal prince’s behalf, and charged with negotiating for a French invasion of England to support the rebellion.

James Steuart (economist) – Wikipedia

What is venal nobility? The George Wythe Encyclopedia.

On the other hand, the object of a standard regards foreign trade, and the acquisition of new wealth, at the expence of other nations. Oc from the revised edition in Steuart’s collected works from ; html Markup: The principles I am enquiring into, regard the cool administration of their government; it belongs to another branch of politics, to contrive bulwarks against their passions, vices and weaknesses, as men.


As this system is new, no wonder if it has produced phenomena both new and surprising. But such reflections seem rather to be too great a refinement on my subject, and exceed the bounds of political oeconomy. How foreign Trade opens to an industrious People, and the Consequences of it to the Merchants who set it on foot Chap. In other projects Wikimedia Commons.

If a country be found labouring under many natural disadvantages from inland situation, barren soil, distant carriage, it would be in vain to attempt a competition with other nations in foreign markets. Whenever, therefore, numbers were found to exceed this standard, the supernumeraries were dismissed, and sent to jamez colonies. Principles of Political Economy Source: I must therefore, upon such occasions, consider the introduction of luxury, or superfluous consumption, as a rational and moral consequence of the deficiency of foreign trade.

Sir James Steuart: Principles of Political Economy

Trade and industry, I say, owed their establishment to the ambition of princes who supported and favoured the plan in the beginning, principally with a view to enrich themselves, and thereby to become formidable prinxiples their neighbours.

There, no superfluity was permitted, because the moment the limits of the absolutely necessary are transgressed, the degrees of excess are quite indeterminate, and become purely relative. Were nobody in a nation employed in producing the necessaries of life, and all the industrious employed in supplying other articles of consumption, the prices of necessaries might be allowed to fall as low as possible.