The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-06-15
New reudenc,e. of Political Economy.

lie nud, IN TACT, done Dotter lOr ne lelt an III
come OF $3.50 behind him.
New Tendencies Of Political Economy.
The notion that the world is too much
governed. and that the best political system will
leave the largest scope to individual exertion,
has for many years controlled public opinion
in Great Britain. OF late. however. this root
dogma Of the Manchester school has met with
some assailants even in the stronghOlls of Eng
lish thought-for example. in the address de-
livered by Prof Ingram mt the meeting of the
British Association. and In the paper read be-
fore tho Social Science Association by Prof
Bonamy Price. Their dissent from the COM
monty received conclusions Of economic science
deserves special attention. because II attests the
growing influence Of Continental ideas among
the countrymen OF Ricardo and John Stuart
Mill. How widely the Lending economists Of
Germany and Belgium have diverged from the
dogmas not only OF free trade but Of indvid-
ualism in all its aspects has been lately set
forth by Prof. De Laveleye in u number Of writ
ings and addresses. Some of these. translated
and collected in pamphlet by Mr.. George
Walker. have been widely circulated in this
country. and have provoked much discussion
in view OF the experiment now making in the
State Of California TO apply new principles Of
government. What is the precise distinction
between tho theories OF Mill, which have
long shaped our legislation. and tho views pro-
pounded by Prof. Do Laveleyo?
1t was Millss fundamental idea that social
phenomena are regulated by natural laws
which. but for the vices OF institutions, would
lead men TO happiness. Adam Smith had also
maintained that men. simply by pursuing their
own interests. uniformly did the things most
advantageous to the nation-that the rich. for
instance. in seeking merely the satisfaction OF
caprice. accomplished the most favorable dis
tributon Of products. These advocates OF a
natural order tell us that IL all artificial tram
mels we're removed. there would result from
the free play Of inclinations n harmony Of in
terests. and. from the complete Acknowledgement
Of individuals. a better social organization and
n larger measure Of general well being. In n
word the statesman should fold his arms and
give free rein to the egotistic spirit and to that
competitive principle which is pronounced the
infalliblc regulator Of the industrial world.
Now the modern school Of economists which
has grown up in Germany and with which
| Prof de Laveleye is substantially in accord
start from very different premises. They pro-
test that they cannot find. in any civilized soce-
ty. those natural laws upon which Mill bosed
his system They hold the essence Of clviliza-
ton to be a struggle against nature. and that il
is as impossible to evolve from the negation OF
!
be 10 formulate law of motion without taking
any account OF friction and resistance. They
| discern in political science but single natural
| law. namely. that man. in order to live. must
make living. All the rest. they say. is
| governed by statutes and customs which
! are constantly changing. AMI which, Just In
| proportion ms justice and morality enlarge their
sphere. become more complex and artificial.
and further removed from that state OF nature
where the competitive principle and the rule OF
the survival Of the 1ttest are totally unchecked
| They charge. in IA word. that tho theory of nat
urnl laws put forth by the Manchester school
discards all conception OF an ideal. and refuses
TO consider the well being and progress OF tho
working majority proper object of Legislation.
| For their own part the German economists
maintain that the same rule holds good In tho
domain al human society which prevails among
the lower animals, namely, that In the con
lct of senshness and the battle for ex-
istence the strong are certain 10 crush
out or at least TO thrust aside. the weak unless
the state. which is the organ OF Justice. comes
in to award TO each the right compensation OF
his labors. They affirm further that n govern
mcnt II it really embody tho collective wisdom
| Of community. ought to contribute directly or
desiGnedly to tho progress OF civilization So
far. in short, from admitting with the orthodox
| economists that untrammelled individualism
is sufiicient to put nm end to social hardships
and dissensions. they assert that progressive
reforms and Legislative Nmeiorations nre
simply Indispensable to society, IL IL would
avert civil diseord and the despotlsm sertain 10
ensue.
So much for general principles: let us look
now at what tho new economists have TO say
about tho great social problem OF our day viz.
inc question OF distribution. In presence Of
Vla a.. 4. G.l
social body, two modes of treatment are sug-
gested-on the one hand socialism which looks
to radical change in the social order. and. on
the other. tho orthodox economy. which holds
that everything will hnd its solution by and By
in liberty and the action OF natural laws Ac-
cording to the Professor Socialists OF Germany
neither Of these remedies will meet the difrl-
Guilty. sweeping and hasty remodellin,
OF society they pronounce impracticabin
while, to invoke the action OF individ-
ual liberty is. in their opinion. only a
mockery OF words. since the question ut issue
is one Of social organization and tho civil code
But although the Socialists OF the Chair may not
20 so far MS Karl Mnrx they DO not hesitate to as-
sign very wide functions to n Government and
they repudlate tho formula OF d" let alone" They
point to the fact that under tho existing order
the distribution OF products 10 made not only in
virtue Of contracts. but still moro in accordance
with laws and sentiments whose influence must
be understood. and whose justice must be De.
termlned. They declare. in fine that economi,
problems like the question Of wages. for OK.
ample, must not DO let to the iron rule
OF supply and demand; that they canno,
rightly be discussed apart from moral consid.
erations, ooing allied intimately with psycholo.
gy with religion, with law, with history. The
peril to civilization which lies in the antago-
nlsm OF classes is to be averted they tell us. h,
wise law making. not by abstinence from legis