Political　Economy
  by　J。C。L。　Simonde　de　Sismondi
  1815
  Chapter　1
  Objects　and　Origins　of　the　Science
  Political　economy　is　the　name　given　to　an　important　division　of　the　science　of　government。　The　object　of　government　is；　or　ought　to　be；　the　happiness　of　men；　united　in　society；　it　seeks　the　means　of　securing　to　them　the　highest　degree　of　felicity　compatible　with　their　nature；　and　at　the　same　time　of　allowing　the　greatest　possible　number　of　individuals　to　partake　in　that　felicity。　But　man　is　a　complex　bring；　he　experiences　moral　and　physical　wants；　therefore　his　happiness　consists　in　his　moral　and　physical　condition。　The　moral　happiness　of　man；　so　far　as　it　depends　on　his　government；　is　intimately　connected　with　the　improvement　of　that　government；　it　forms　the　object　of　civil　policy；　which　ought　to　diffuse　the　happy　influence　of　liberty；　knowledge；　virtue；　and　hope；　over　all　classes　of　the　community。　Civil　policy　should　point　out　the　means　of　giving　to　nations　a　constitution；　the　liberty　of　which　may　elevate　the　souls　of　the　citizens；　an　education　which　may　form　their　hearts　to　virtue　and　open　their　minds　to　knowledge；　a　religion　which　may　present　to　them　the　hopes　of　another　life；　to　compensate　for　the　sufferings　of　this。　It　should　seek　not　what　suits　one　man　or　one　class　of　men；　but　what　may　impart　most　happiness　by　imparting　most　worth　to　all　the　men　living　under　its　laws。　　　　　The　physical　well…being　of　man；　so　far　as　it　can　be　produced　by　his　government；　is　the　object　of　Political　Economy。　All　the　physical　wants　of　man；　for　which　he　depends　on　his　equals；　are　satisfied　by　means　of　wealth。　It　is　this　which　commands　labour；　which　purchases　respectful　service；　which　procures　all　that　man　has　accumulated　for　use　or　pleasure。　By　means　of　it　health　is　preserved；　and　life　maintained；　the　wants　of　infancy　and　old　age　are　supplied；　food；　and　clothing；　and　shelter；　are　placed　within　the　reach　of　all。　Wealth　may　therefore　be　considered　as　representing　all　that　men　can　do　for　the　physical　well…being　of　each　other；　and　the　science　which　shows　to　governments　the　true　system　of　administering　national　wealth　is　an　important　branch　of　the　science　of　national　happiness。　　　　　Government　is　instituted　for　the　advantage　of　all　the　Persons　subject　to　it；　hence　it　ought　to　keep　the　advantage　of　them　all　perpetually　in　view。　And　as　in　respect　of　civil　policy　it　should　extend　to　every　citizen　the　benefits　of　liberty；　virtue；　and　knowledge；　so　it　ought　likewise；　in　respect　of　political　economy；　to　watch　over　all　the　advantages　of　the　national　fortune。　Abstractly　considered；　the　end　of　government　is　not　to　accumulate　wealth　in　the　state；　but　to　make　every　citizen　participate　in　those　enjoyments　of　physical　life　which　wealth　represents。　Government　is　called　to　second　the　work　of　providence；　to　augment　the　mass　of　felicity　on　earth　and　not　to　multiply　the　beings　who　live　under　its　laws；　faster　than　it　can　multiply　their　chances　of　happiness。　　　　　Wealth　and　population　are　not；　indeed；　absolute　signs　of　prosperity　in　a　state；　they　are　only　so　in　relation　to　each　other。　Wealth　is　a　blessing　when　it　spreads　comfort　over　all　classes；　population　is　an　advantage　when　every　man　is　sure　of　gaining　an　honest　subsistence　by　his　labour。　But　a　country　may　be　wretched；　though　some　individuals　in　it　are　amassing　colossal　fortunes；　and　if　its　population；　like　that　of　China；　is　always　superior　to　its　means　of　subsistence；　if　it　is　contented　with　living　on　the　refuse　of　animals；　if　it　is　incessantly　threatened　with　famine；　this　numerous　population；　far　from　being　an　object　of　envy；　is　a　calamity。　　　　　The　improvement　of　social　order　is　generally　advantageous　to　the　poor　as　well　as　to　the　rich；　and　political　economy　points　out　the　means　of　preserving　this　order　by　correction；　but　not　of　overturning　it。　It　was　a　beneficent　decree　of　Providence；　which　gave　wants　and　sufferings　to　human　nature；　because　out　of　these　it　has　formed　the　incitements；　which　are　to　awaken　our　activity；　and　push　us　forward　to　develop　our　whole　being。　If　we　could　succeed　in　excluding　pain　from　the　world；　we　must　also　exclude　virtue；　if　we　could　banish　want；　we　must　also　banish　industry。　Hence　it　is　not　the　equality　of　ranks；　but　happiness　in　all　ranks；　which　the　legislator　ought　to　have　in　view。　It　is　not　from　the　division　of　property　that　he　will　procure　this　happiness；　but　from　labour　and　the　reward　of　labour。　It　is　by　maintaining　the　activity　and　hopes　of　the　mind；　by　securing　to　the　poor　man　as　well　as　to　the　rich；　a　regular　subsistence　and　the　sweets　of　life；　in　the　performance　of　his　task。　　　　　The　title　given　by　Adam　Smith　to　his　immortal　work；　on　the　science　we　are　now　engaged　with；　'The　Nature　and　Causes　of　the　Wealth　of　Nations'　forms　at　the　same　the　most　precise　definition　of　that　science。　It　presents　a　much　more　exact　idea　than　the　term　political　economy；　afterwards　adopted。　The　latter　designation；　at　least；　requires　to　be　understood　according　to　the　modern　acceptation　of　the　word　economy；　not　according　to　its　etymology。　In　its　present　sense　economy　denotes　the　preservative；　administrative；　and　the　management　of　property；　and　it　is　because　we　use　the　somewhat　tautological　phrase　domestic　economy　for　the　management　of　a　private　fortune；　that　we　have　come　to　use　the　phrase　political　economy　for　the　management　of　the　national　fortune。　　　　　From　the　time　when　men　first　entered　into　social　union；　they　must　have　occupied　themselves　with　the　common　interests　originating　in　their　wealth。　From　the　beginning　of　societies；　a　portion　of　the　public　wealth　was　set　apart　to　provide　for　the　public　wants。　The　levying　and　management　of　this　national　revenue；　which　no　longer　pertained　to　each；　became　an　essential　part　in　the　science　of　statesmen。　It　is　what　we　call　finance。　　　　　Private　fortunes；　on　the　other　hand；　made　the　interests　of　each　citizen　more　complex；　being　exposed　to　the　attacks　of　cupidity　and　fraud；　their　wealth　required　to　be　defended　by　the　public　authority；　according　to　the　fundamental　article　of　the　social　contract；　which　had　combined　the　strength　of　individuals　to　protect　each　with　power　of　all。　The　rights　over　property；　the　divisions　of　it；　the　means　of　transmitting　it；　became　one　of　the　most　important　branches　of　civil　jurisprudence；　and　the　application　of　justice　to　the　distribution　of　national　property；　formed　an　essential　function　of　the　legislator。　　　　　But　no　inquiry　concerning　the　nature　and　causes　of　national　wealth　had　occupied　the　speculations　of　our　ancestors。　They　had　not　ascended　to　the　principles　of　political　economy；　in　order　to　deduce　from　that　source　their　systems　of　finance　and　civil　jurisprudence；　which　ought；　however；　to　be　nothing　more　than　corollaries　from　those　principles。　They　had　abandoned　the　development　of　public　wealth　to　the　result　of　individual　efforts；　without　examining　their　nature；　and　thus　property　had　accumulated　silently；　in　each　society；　by　the　labour　of　each　artisan　to　procure　his　own　subsistence；　and　afterwards　his　own　comforts　…　before　the　manner　of　acquiring　and　preserving　it　became　an　object　of　scientific　speculation。　The　philosophers　of　antiquity　were　engaged　in　proving　to　their　disciples；　that　riches　are　useless　for　happiness；　not　in　pointing　out　to　governments　the　laws　by　which　the　increase　of　those　riches　may　be　favoured　or　retarded。　The　attention　of　thinking　men　was　at　length　directed　to　national　wealth　by　the　requisitions　of　states；　and　the　poverty　of　the　people。　An　important　change　which　occurred　in　the　general　politics　of　Europe；　during　the　sixteenth　century；　almost　every　where　overturned　public　liberty；　oppressed　the　smaller　states；　destroyed　the　privileges　of　the　towns　and　provinces；　and　conferred　the　right　to　dispose　of　national　fortunes　on　a　small　number　of　sovereigns；　absolutely　unacquainted　with　the　industry　by　which　wealth　is　accumulated　or　preserved。　Before　the　reign　of　Charles　V；　one　half　of　Europe；　lying　under　the　feudal　system；　had　no　liberty　or　knowledge；　and　no　finance。　But　the　other　half；　which　had　already　reached　a　high　degree　of　prosperity；　which　was　daily　increasing　its　agricultural　riches；　its　manufactories；　and　its　trade；　was　governed　by　men　who；　in　private　life；　had　attended　to　the　study　of　economy；　when；　in　acquiring　their　own　property；　had　learned　what　is　suitable　in　that　of　states；　and　who；　governing　free　communities　to　which　they　were　responsible；　guided　their　administrations；　not　according　to　their　own　ambition；　but　according　to　the　interest　of　all。　Till　the　fifteenth　century　wealth　and　credit　were　no　where　to　be　found　in　the　republics　of　Italy；　and　of　the　Hanseatic　league；　the　imperial　towns　of　Germany；　the　free　towns　of　Belgium　and　Spain；　and　perhaps　also　in　some　towns　in　France　and　England；　which　happened　to　enjoy　great　municipal　privileges。　The　Magistrates　of　all　those　towns　were　men　constantly　brought　up　in　business；　and　without　having　brought　political　economy　to　the　form　of　a　science；　they　had　yet　the　feeling　as　well　as　the　experience　of　what　would　serve　or　injure　the　interests　of　their　fellow…citizens。　　　　　The　dreadful　wars　which　began　with　the　nineteenth　century；　and　altogether　overturned　the　balance　of　Europe；　transferred　a　nearly　absolute　monarchy　to　three　or　four　all…powerful　monarchs；