Principles of Political Economy: With Some of Their Applications to Social Philosophy (Classic Reprint) - Softcover

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Excerpt from Principles of Political Economy: With Some of Their Applications to Social Philosophy

It appears to the present writer, that a work similar in its object and general conception to that of Adam Smith, but adapted to the more extended knowledge and improved ideas of the present age, is the kind of contribution which Political Economy at present requires. The Wealth of Nations is in many parts obsolete, and in all, imperfect. Political Economy, properly so called, has grown up almost from infancy since the time of Adam Smith: and the philosophy of society, from which practically that eminent thinker never separated his more peculiar theme, though still in a very early stage of its progress, has advanced many steps beyond the point at which he left it. No attempt, however, has yet been made to combine his practical mode of treating his subject with the increased knowledge since acquired of its theory, or to exhibit the economical phenomena of society in the rela tion in which they stand to the best social ideas of the present time, as he did, with such admirable success, in reference to the philosophy of his century.

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