The prison mirror. [volume] (Stillwater, Minn.) 1887-1894, 1890-11-20
REPORT. OF CLASS A.
POLITICAL ECONOMY,

First, to properly understand our subject we
must define it. Political economy defined in its
most general terms is: The science which treats of
man. as a member of economic society Or the
science which deals with social phenomena from
an economic standpoint. Political economy then
means the economic life of a nation. Political
economy describes the relations of private eco
Monies to one another and their union into larger
economic communities, as township, city. state.
etc. taking into account their origin their growth
their constitution. and prescribing rules for the
ordering of these relations best calculated to
meet the degree of culture already attained and
to be attained in the future. The chief factor
in production is man. the human factor, and
whatever effects this will certainly influence
wealth creation
Ever since man was driven from the Garden of
Eden, man, has from necessity, been a producer
in every era of history. We find him struggling
to produce something to satisfy the necessities
and luxuries of life for himself and family, but
not all alike; some owing to the tropical climate
in which they exist are nearly provided by nature
with these necessities OF existence; here we find
him with a mental nature which is weak and he
is lacking in ambition. On the other hand we
find that men who live in the most sterile coun-
tries where it requires the greatest effort to OBJ
tain the necessities of existence have the
most active brain. the greater ambition and are the
more highly developed Intellectually, morally and
physically. In the primitive ages man had only
to look out for himself and family SO that econ
Omy was of private nature, but as ages
past, and the world became more thickly popu.
lated man became united into tribes, then nations;
and it was then that economy had to take in a
wider range to look out for the future welfare of
the nations thus formed.
Then we have what is termed political economy
The true starting point in economic discussions is
the ethical community of which the individual is
member, and in the discussion of this question we
must ever keep in mind what effect will tn is thing
or that thing. have on the entire life of the in
dividual, the nation and also humanity; and
remember, that the only true, and most supreme
happiness lays in the development of the human
faculties to harmonious and consistent whole.
Man has been divided.by some-erroneousy-into
two classes: the producer and the consumer.
But rather do we not find the two classes insep
arably bound up in the one man? For instance. we
lind the artisan in the factory engaged in produc-
ing some utility for the farmer while the farmer
on the other hand, is engaged in producing, in
various FORMS food for himself and also for the
artisan. and on ad infinitum. Now, when we
find men, or a class of men who are not produce
and who do not produce anything for themselves
or others, we find drones who are daily and
yearly consuming that which is impoverishing his
state and rObbing his nation of that which in an
economic sense constitutes wealth. He is like
the barnacles which gather on the side of the
ship. doing no good and only impeding its prog
ress.
Now we come to that distribution of income
which brings society a whole, and in all its
various subdivisions. nearest to PERFECTION
the complete and harmonious development of
every faculty. This should be the true ideal of
political economy, and in treating this question
we must take into account all the physical con-
ditions. as, climate nature and character Of SOIL
minerals and in fact all resources of nature, also
character and conditions of men. For instance
free trade has made England prosperous while it
has impoverished Ireland; so protection has
made the United States one of the most pros
porous nations of the world. But simply because
it has done this for in the past it does not nee
essarly follow that it will be what we want in
the future.
Nations are progressive and political economy
is progressive science. We can already see
evils of great magnitude that have grown up in
the nursery of protection. For the accumulation
of wealth is tending to consolidation for financial
purposes, and this forms cooperative bodies for
manufacturing purposes, these in turn combine
themselves into trusts, thus being able to control
the market price of any commodity, as is shown
by the Standard Oil Company-the largest COM
bination Of capital in the United States-con-
trolling nearly all the owells in the country; not
only controlling the price of their goods but con-
trolling the price of labor well, for it is fact
that when combined capital can control that