Disturbing Elements in the Study And Teaching of Political Economy

Cover Disturbing Elements in the Study And Teaching of Political Economy
Disturbing Elements in the Study And Teaching of Political Economy
Bonar, James, 1852-1941
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The waggon way on the earth is more of a mechan- ical invention and less necessarily an economical one than the waggon way through the air of which Adam Smith speaks. All the modern forms of credit described in such a book as Hartley Withers' GOVERNMENT IS FOUNDED ON OPINION 51 Meaning of Money are almost directly economical. They are also (be it observed) almost directly in- ternational . They depend for their chief and most living applications on the Great Intercourse of nations. Of course th...e others (inventions of pro- duction and inventions of distribution) are possibly so too, and those of production at least easily become so. It is not the' opinion' of a nation or even of many nations that puts them in force but their economy, as discerned by those actually en- gaged in business, discerned far more easily than the wisdom of a political expedient is discerned by the people or the statesmen.
What part is played by 'public opinion, ' in distinction from the 'opinion' of Hume's dictum?


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