Excerpt from The Elements of Political Economy

In this elementary treatise, designed as a manual of instruction, I deviate from time to time from the course commonly followed, because, in my view, the object of Political Economy is not that ordinarily indicated. What is of importance, as it seems to me, is the conduct of individuals and of states, with regard to the production and employment of wealth - that is to say, the moral and political side of our science. In manuals where everything has to be condensed into a few pages, writers often confine themselves to the definitions and to the brief summary of a few general laws. Reduced to this, political economy presents little that is useful.

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