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The Principles Of Political Economy: With A Sketch Of The Rise And Progress Of The Science - Softcover
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"The Principles Of Political Economy: With A Sketch Of The Rise And Progress Of The Science" by John Ramsay McCulloch. This dense nineteenth?century treatise analyzes how wealth is produced, valued, and distributed, and how government, markets, and institutions shape economic outcomes. It surveys wage determination, poverty relief, land rent, agricultural improvement, and profits, drawing on England, Ireland, and the Continent to argue for reforms grounded in sound economic principles. Key themes include the distinction between proportional wages and actual wages, the dangers of potato?based subsistence in Ireland and the lessons of famine, and the case for higher wages to spur industry while recognizing that persistently low wages undermine effort and social stability. McCulloch develops a nuanced theory of profits, rent, and money value, showing how wages, taxes, productivity, and monetary fluctuations interact to determine profits. He argues for reform of Poor Laws, promotion of education and savings institutions, secure long leases, and open trade, insisting that property rights, division of labour, and prudent public expenditures are the engines of prosperity. The work combines analytic rigor with historical grounding and practical policy recommendations.
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The Principles of Political Economy: With a Sketch of the Rise and Progress of the Science
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The Principles of Political Economy: With a Sketch of the Rise and Progress of the Science
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HardPress Ltd, 2021
ISBN 10: 0371862620
ISBN 13: 9780371862629
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Principles of Political Economy
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