These theories
offer us only the rudiments, or first section, of economic
science; and that is why, like property, they are all
contradictory of each other, and half the time inapplicable. The
proof of this assertion, which is, in one sense, a denial of
political economy as handed down to us by Adam Smith, Ricardo,
Malthus, and J. B. Say, and as we have known it for half a
century, will be especially developed in this treatise.
The inadequacy of political economy has at all times impressed
thoughtful minds, who, too fond of their dreams for practical
investigation, and confining themselves to the estimation of
apparent results, have constituted from the beginning a party of
opposition to the statu quo, and have devoted themselves to
persevering, and systematic ridicule of civilization and its
customs. Property, on the other hand, the basis of all social
institutions, has never lacked zealous defenders, who, proud to
be called PRACTICAL, have exchanged blow for blow with the
traducers of political economy, and have labored with a
courageous and often skilful hand to strengthen the edifice which
general prejudice and individual liberty have erected in concert.
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