The labor world. [volume] (Duluth, Minn.) 1896-current, 1902-09-20
Carroll D. Wright Says
that Men Engaged in
Industrial Production
Should be Students in
Political Econon1y-La.
Dor Must, Sooner or
Later; be Prepared for
Great Problems.

1t is to be regretted that those en-
gagged in industrial production, whether
employer or employe, have taken but
very little interest in political economy
as branch of knowledge. If any one
in the whole community should take
an interest in this branch, it certainly
is the man engaged in economic pur-
suits. So it is unfortunate that politi-
cal economy seems to have been the
particular profession of professors and
students.
It may be that this Indifference grows
out of the fact that theory and prac-
tice are not always co-ordinated. Forms
and methods of teaching political econ
cmy have had something to do with
this Indifference. We need not consider
at present why the manufacturer or
the manager has not been an enthusi-
astic student of economics, although it
is hopeful that he is making more and
more Of a study Of what is called social
economics as the great questions con-
nected with production become more
prominent; and it is further decidedly
encouraging that those men who under
take to study the principles Of social
the conduct Of their works. Many cases
could be cited where railroad presi-
dents, the heads of great manufactur-
ing establishments, and those in other
leading positions have applied practi-
cally the highest ethical principles in
economics, but this course is not yet
general.
The wage-earner has not been at
tracted to political ecoonmy, for vari-
us reasons. He has been led to be-
lieve that it is pure theory and that it
is devoted to the study of questions
from scientific point Of view, and does
not deal with the relations of men in
active life Many of the writer's have
intensified this view. Mr.. Mill, perhaps
the most brilliant writer of the age
upon political economy, has stated that
lit is concerned with man solely asssa
sass 1tS
and who Is capa biz OF judg ofG tile
comparative efficacy Of means. to that
end that political economy makes en-
tire abstraction Of every other human
passion or motive, except those which
may be regarded as perpetualy antag-
onizing principles to the desire of
wealth, namely, aversion to labor, and
desire Of the present enjoyment of
costly indulgences.
Political economy he asserts, con-
siders mankind as occupied solely in
acquiring and consuming wealth. This
is pure abstraction, and vicious at that,
but it meets us on the very threshold
Of political economy. How a writer of
Mr.. Mills breadth of mind and schol-
arly attainments could consider man
kind as a monstrous race, working un-
der the influences of greed and indo-
lence, is beyond the comprehension of
the man who has to earn his living by
day labor. Perhaps Mr.. Mill did not
mean all that his words imply, but he
certainly did mean that political econ
omy should go no farther that to deal
with the accumulation of wealth and
should make every other element of
nc avail in production. Mr. Mill rep
resents the old school of economics in
teaching what Carlyle denominated
1.-The dismal SCIENCE" and George How
ell the grab-all science" the funda-
mental principle of which was based
on the Quaker's advice to his son:
Make money, honestly if you can, but
make money!
Now, this was a hard, unsympathetic
science, and labor learned that it had