Elements of Political Economy With Special Reference To The Industrial History of Nations By Robert Ellis Thomson, M.A. Professor of Social Science in the University of Pennsylvania and Member of The American Philosophical Society “The true greatness of kingdoms and estates, and the means thereof, is an argument fit for great and mighty princes to have in their hand; to the end that neither by over measuring their forces, they lose themselves in vain enterprises nor on the other side, by undervaluing them, they descend to the fearful and pusillanimous counsels.” - Lord Bacon. Chicago New York The Werner Company Copyright, 1875, by Porter a Coates Copyright, 1882, by Porter a Coates Copyright, 1895, by The Werner Company Digital Edition prepared by Gary Edwards
[email protected] 25th July, 2006 Preface This work forms a third and revised edition of the author's "Social Science and National Economy," published in 1875, and in a revised edition in the following year. The author retains his preference for the earlier title, but the general use of the term Political Economy to designate this science renders it desirable to make this change. The author of this book has had a twofold purpose in its preparation, - first, to furnish a readable discussion of the subject for the use of those who wish to get some knowledge of it, but have neither the time nor the inclination to study elaborate or voluminous works; secondly, and more especially, to provide a text-book for those teachers - in colleges and elsewhere - who approve of our national policy as in the main the right one, and who wish to teach the principles on which it rests and the facts by which it is justified.