We propose in the following Treatise to give an outline of the Science which treats of the Nature, the Production, and the Distribution of Wealth. To that Science we give the name of Political Economy.
Sentiment: POSITIVE
Many writers upon the science of political economy have declared that it is the duty of a nation first to encourage the creation of wealth; and second, to direct and control its distribution. All such theories are delusive.
The science of politics is the one science that is deposited by the streams of history, like the grains of gold in the sand of a river; and the knowledge of the past, the record of truths revealed by experience, is eminently practical, as an instrument of action and a power that goes to making the future.
My title is intended to suggest that the community of scientists is organized in a way which resembles certain features of a body politic and works according to economic principles similar to those by which the production of material goods is regulated.
In human life, economics precedes politics or culture.
I believe that science is the engine of prosperity, that if you look around at the wealth of civilization today, it's the wealth that comes from science.
I went into the sciences very early on, but to me, economics pervades so much more of our lives and our existence.
The production of wealth is the result of agreement between labor and capital, between employer and employed. Its distribution, therefore, will follow the law of its creation, or great injustice will be done.
Wealth flows from energy and ideas.
Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition.
That subject has lost its one time appeal to economists as our science has become more abstract, but my interest has even grown more intense as the questions raised by the sociology of science became more prominent.
No opposing quotes found.