The Political Economy of Natural Law

Cover The Political Economy of Natural Law
The Political Economy of Natural Law
Wood, Henry, 1834-1909
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We think that each party places undue emphasis upon certain phases of this complicated and ever recurring problem. The importance of the ele- ment of American labor values is underestimated by many Democrats; and, on the other hand, some Republicans Digitized by VjOOQ IC 230 THE POLITICAL ECONOMY OF NATURAL LAW.
greatly overestimate the potency of a protective tariff, and forget that it is purely a policy, and lacks the basis of a universal principle. The question of an American tariff is only
...a question of American expediency.
Could a commission of economic experts be formed with a single aim for justice and the public welfare, occupying an American standpoint, and uninfluenced by political ties and questions of party advantage, they would be able to outline a very perfect revenue system. But with existing partisan prejudice and unsound theory among legislators, and motives of personal, political, and sectional policy, the obstacles to an ideal result are great. Added to the difficul- ties already enumerated is the general fact that any tariff bill that can possibly receive the support of a majority in the Congress must naturally embody a general compromise.


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