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Jean-Baptiste Say -
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Political economy has only become a science since it has been confined to the results of inductive investigation.
Jean-Baptiste Say
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In times of political confusion, and under an arbitrary government, many will prefer to keep their capital inactive, concealed, and unproductive, either of profit or gratification, rather than run the risk of its display. This latter evil is never felt under a good government.
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Wherefore it is impossible to succeed in comparing wealth of different eras or different nations. This, in political economy, like squaring the circle in mathematics, is impracticable, for want of a common mean or measure to go by.
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Some writers maintain arithmetic to be only the only sure guide in political economy; for my part, I see so many detestable systems built upon arithmetical statements, that I am rather inclined to regard that science as the instrument of national calamity.
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A treasure does not always contribute to the political security of its possessors. It rather invites attack, and very seldom is faithfully applied to the purpose for which it was destined.
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All those who, since Adam Smith, have turned their attention to Political Economy, agree that in reality we do not buy articles of consumption with money, the circulating medium with which we pay for them. We must in the first instance have bought this money itself by the sale of our produce.
Jean-Baptiste Say
Quote of the day
In England, the profession of the law is that which seems to hold out the strongest attraction to talent, from the circumstance, that in it ability, coupled with exertion, even though unaided by patronage, cannot fail of obtaining reward.
Charles Babbage
Jean-Baptiste Say
Creative Commons
Born:
January 5, 1767
Died:
November 15, 1832
(aged 65)
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