An Outline of Political Economy

An Outline of Political Economy

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Excerpt from An Outline of Political Economy: Designed for Seminaries, and Intended to Explain the Principles of This Important Science, by Familiar Examples, and to Exhibit More Particularly the Great Importance of Agriculture, Mining Industry, Manufactures, and Internal Improvements, to National We

Question. What is Politics? - Answer. Politics is the name of that science which develops the institutions best calculated for national defence and protection without, and for the establishment and maintenance of social order within a community.

What is Political Economy? - Political Economy is that science, which develops the sources, the distribution, the accumulation, and the consumption of national wealth.

What sciences are necessary to, or connected with political economy? - History, Geography and Statistics.

What is history? - History is that science which informs us of the origin, progress, rise and decay of ancient empires, and the past condition of modern nations, with the progress of the arts and sciences in general.

What is geography? - Geography is that science, which informs us of the earth, the situation and extent of countries, the climate, soil, productions of each region, &c.

What is statistics?-Statistics is the name of that science, which treats of the actual circumstances and. condition of nations, in regard to their population, productions, agriculture, manufactures, trade and resources, with the manners, character and habits of the people, &c.

What is national wealth? - National wealth is the aggregate of individual wealth, or the successful result of the efforts of individuals to improve their condition.

What are the natural elements of national wealth? - A serene and healthy climate, rich soil, abundance and variety of productions, good springs and streams of wafer, valuable mill-seats and water privileges for manufacturing purposes.

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