CONTENTS.

LECTURE I.

NATURE AND SUBJECTS OF THE SCIENCE.

DISADVANTAGES resulting from the novelty of the name of Political-

Economy; and from the name itself, 2; the title of Catallactics,

or the science of Exchanges, would have been more suitable, 4.

In what sense Political-Economy is conversant about Wealth, ib.

Objections to the study, and misapprehensions respecting it, why

noticed, 7.

Objection that Political-Economists have treated exclusively of

Wealth, 11. Importance of the study in an endowed University,

15. Objections to a science conversant about Wealth, 16.

LECTURE II.

RELATIONS OF THE SCIENCE TO RELIGION AND MORALS.

Mistake of making an appeal to Scripture on these subjects, 18.

Connexion of this study with religion and morals, 22. Supposed

hurtfulness of national wealth in a moral point of view, 25.

Mandeville's notion on this point, 27. Distinction between

individual and national wealth, 32.

LECTURE III.

POLITICAL-ECONOMY A BRANCH OF GENERAL EDUCATION.

Arguments against the systematic study of Political-Economy, 39.

Common-sense, ib. Experience, 41. Paradoxes maintained as

the conclusions of common-sense, 45. Whether Political-Eco-

nomy is to be regarded as a part of general education, 48.

Political-Economists far more numerous than is commonly sup-

posed, 51. How the Art and the Science of Political - Economy

came to exist, 54. The study worthy of cultivation for its own

sake, 56.

LECTURE IV.

MAN CONSIDERED AS A SOCIAL BEING.

Man naturally a social Being, 58. Connexion of Political-Economy

with Natural-Theology, 59. Provisions made by Divine Wisdom

for the progress of Society, 65. Existence of evil not to be

explained, 66.

LECTURE V.

ORIGIN OF CIVILIZED SOCIETY.

Whether mankind have emerged from the Savage state, 70.

Scripture not to be referred to in the outset, in examining the

question, 72. Historical evidence on the negative side, 73.

Causes of degeneracy into Barbarism, 77. Confirmation of Scrip-

ture-history from existing monuments, 78. Errors respecting a

"state of Nature," 81. Scanty records of the earliest human

inventions, 82.

LECTURE VI.

BEGINNING OF ADVANCES IN CIVILIZATION.

Beginning of the advance in civilization, 86. Origin of the division

of labour, 87. Origin of money, 92. Emulation, 94. Public

interest promoted by individuals destitute of public-spirit, 98.

Effects of the conduct of a Miser, in different states of Society,

100.

LECTURE VII.

PROGRESS OF SOCIETY IN WEALTH.

Progress of Society in Wealth, considered as to its bearing on public

morals, 104. Progress of knowledge, 105. Antecedent probabi-

lities that this should be favourable to moral improvement, 108.

Demoralizing effects of famines, and of barbarian invasions, 111.

What steps should be taken by those who think increase of wealth

unfavourable to virtue, 113. Causes which have led to this

opinion: poetical descriptions, 114. Absolute amount of vice,

greatest in populous regions, 117; and apparent amount greater

still, 118.

LECTURE VIII.

OBSTACLES TO NATIONAL WELFARE.

Inequalities in respect of moral advancement, independent of Na-

tional Wealth, 122. In what senses Communities are called rich

or poor, 123. Differences in religion, 124; and institutions, 125;

and in distribution of wealth and modes of expenditure, 126.

One danger arising from excessive division of labour, noticed by A.

Smith, 127. What education is desirable for the labouring classes,

132. Another danger noticed by Mr. Senior, 135.

Evils of ill-conducted diffusion of knowledge, 138; how to be pre-

vented, 142.

LECTURE IX.

MODE OF PURSUING THE STUDY OF THE SCIENCE.

General character of the study, 147. Importance of beginning

aright, ib. Mistake of beginning by a crude collection of facts,

148. Distinction between the two requisites in each science, 149.

What knowledge of facts requisite, 151. Character of the facts

which history records, 152. Danger from misapplied learning,

153. History records the impediments to advancement, 154.

Difficulty of avoiding Theory, 155. Knowledge of facts no remedy

for logical inaccuracy, 156. Mere ignorance causes no positive

evil, 157. Importance of Nomenclature, 158. Definitions not

given where most needed, ib. Charge of making innovations in

language, 160. Disagreement of different writers in their use of

terms, 161. Ambiguity of the expressions high and low, as

applied to Wages, 163. Ambiguous use of the word Wealth, 164.

Ambiguous use of the word Tendency, ib. Accidental circum-

stances mistaken for essential, 166. Labour not essential to

Value, 167. Errors arising from elliptical expressions, 168. Fine

writing not to be expected or aimed at in this subject, 169.

APPENDIX.

[A]. Note to Lect. V. Opinions of several writers as to the

degenerated condition of Savages

.

[B]. Note to Lect. V. Notice of objection to the doctrine that
Savages cannot civilize themselves

PAGE

173

174

[C]. Extracts from the Evidence taken before a Select Com-

mittee of the House of Lords, on Tithes and Poor-Laws 180

[D]. Substance of a Speech on the subject of Irish Poor-Laws 198

[E]. Article on Transportation: from the London Review, 1829 223

[F]. Remarks on Transportation, in a Second Letter to the

[G]. Substance of a Speech on Transportation

INTRODUCTORY LECTURES

ON

POLITICAL ECONOMY.

LECTURE I.

NATURE AND SUBJECTS OF THE SCIENCE.

Disadvantages resulting from the novelty of the name of Political-Economy-and from the name itself-The title of Catallactics, or the science of Exchanges, would have been more suitable-In what sense Political-Economy is conversant about Wealth-Objections to the study, and misapprehensions respecting it, why noticed-Objection that Political-Economists have treated exclusively of Wealth-Importance of the study in an endowed University-Objections to a science conversant about Wealth.

IT

T is not my intention to occupy your time with a panegyric on the judicious public-spirit displayed by the Founder of this Professorship, or with a studied expression of thanks for the honour conferred on me by the appointment. The best way, I conceive, of at once evincing my own feelings, as to both these points, and fulfilling the designs both of the Founder and of the Electors, will be by doing my utmost to recommend and to facilitate the study in question.

Nor shall I detain you by any lengthened remarks on the labours of my predecessor. Not to mention the peculiar circumstances which, in this case, would render it a matter of more than ordinary delicacy, for me, to pronounce any opinion on his Lectures, it may perhaps be laid down universally, that the decision as to how far any teacher has well performed his part, lies properly with his audience.

1 Afterwards (1847), I am happy to say, a second time elected to the Professorship.

B