Economics

The economic and social order of the modern world exhibits a strange enigma, which only a prosperous thoughtlessness can regard with indifference or, indeed, without a shudder. We have made such splendid advances in art and science that the unlimited forces of nature have been brought into subjection, and only await our command to perform for us all our disagreeable and onerous tasks, and to wring from the soil and prepare for use whatever man, the master of the world, may need.

Distributive justice is primarily a problem of incomes rather than of possessions. It is not immediately concerned with John Brown's railway stock, John White's house, or John Smith's automobile. It deals with the morality of such possessions only indirectly and under one aspect; that is, in so far as they have been acquired through income.

I am only sounding brass; with the aid of your attention, I will speak marvels. Do you see this passing whirlwind called SOCIETY, from which burst forth, with startling brilliancy, lightnings, thunders, and voices? I wish to cause you to place your finger on the hidden springs which move it; but to that end you must reduce yourself at my command to a state of pure intelligence. The eyes of love and pleasure are powerless to recognize beauty in a skeleton, harmony in naked viscera, life in dark and coagulated blood: consequently the secrets of the social organism are a sealed letter to the man whose brain is beclouded by passion and prejudice. Such sublimities are unattainable except by cold and silent contemplation.

An objective look at the failure of Free Trade and its causation of the British economic depression of 1846. The author attempts to remain neutral showing good and damaging aspects of Free Trade and of Protectionism. The Free Trade theory has failed nations and peoples, time and time again, throughout history, yet, governments and leaders have refused to acknowledge its failings.

Whence do things get their value? If we put the question to any intelligent and trained man of business, who had no knowledge of the various attempts of theorists towards an explanation of value, whose mind was unbiassed by the forms of speech which echo learned theories and have passed into ordinary business use, and who was, therefore, capable of judging only through the medium of his own personal experience, he would undoubtedly answer, as the first theorists did, -- "from their Utility."

The word Wealth presents itself to different minds with such variety of meaning, that it will be best to begin by fixing on some conventional limit to the sense in which the term shall be used. The definition of Mr. Malthus is, of the many which have been proposed, perhaps the least objectionable and the most convenient. Wealth, according to him, consists of those material objects which are necessary, useful, or agreeable to mankind.

An eternal being created human society as it is to-day, and submission to 'superiors' and 'authority' is imposed on the 'lower' classes by divine will." This suggestion, coming from pulpit, platform and press, has hypnotized the minds of men and proves to be one of the strongest pillars of exploitation.