Thefirsteditionoftheworkwhichachievedthisresultappearedanonymouslyin1798underthetitle——AnEssayonthe
PrincipleofPopulation,asitaffectsthefutureimprovementofSociety,withremarksonthespeculationsofMrGodwin,
M。Condorcet,andotherwriters。Thisbookaroseoutofcertainprivatecontroversiesofitsauthorwithhisfather,Daniel
Malthus,whohadbeenafriendofRousseau,andwasanardentbelieverinthedoctrineofhumanprogressaspreachedby
CondorcetandotherFrenchthinkersandbytheirEnglishdisciples。ThemostdistinguishedofthelatterwasWilliam
Godwin,whoseEnquiryconcerningPoliticalJusticehadbeenpublishedin1793。Theviewsputforwardinthatworkhad
beenrestatedbyitsauthorintheEnquirer(1797),anditwasontheessayinthisvolumeentitled"AvariceandProfusion"
thatthediscussionbetweenthefatherandthesonarose,"thegeneralquestionofthefutureimprovementofsociety"being
thusraisedbetweenthem——theelderMalthusdefendingthedoctrinesofGodwin,andtheyoungerassailingthem。Thelatter
"satdownwithanintentionofmerelystatinghisthoughtsonpaperinaclearermannerthanhethoughthecoulddoin
conversation,"andtheEssayonpopulationwastheresult。
ThesocialschemeofGodwinwasfoundedontheideathattheevilsofsocietyarisefromthevicesofhumaninstitutions。
Thereismorethanenoughofwealthavailableforall,butitisnotequallyshared:onehastoomuch,anotherhaslittleor
nothing。Letthiswealth,aswellasthelabourofproducingit,beequallydivided;theneveryonewillbymoderateexertion
obtainsufficientforplainliving;therewillbeabundantleisure,whichwillbespentinintellectualandmoral
self—improvement;reasonwilldeterminehumanactions;governmentandeverykindofforcewillbeunnecessary;and,in
time,bythepeacefulinfluenceoftruth,perfectionandhappinesswillbeestablishedonearth。Totheseglowinganticipations
Malthusopposesthefactsofthenecessityoffoodandthetendencyofmankindtoincreaseuptothelimitoftheavailable
supplyofit。Inastateofuniversalphysicalwell—being,thistendency,whichinreallifeisheldincheckbythedifficultyof
procuringasubsistence,wouldoperatewithoutrestraint。Scarcitywouldfollowtheincreaseofnumbers;theleisurewould
soonceasetoexist;theoldstruggleforlifewouldrecommence;andinequalitywouldreignoncemore。IfGodwin’sideal
system,therefore,couldbeestablished,thesingleforceottheprincipleofpopulation,Malthusmaintained,wouldsufficeto
breakitdown。
Itwillbeseenthattheessaywaswrittenwithapolemicalobject;itwasanoccasionalpamphletdirectedagainsttheutopias
oftheday,notatallasystematictreatiseonpopulationsuggestedbyapurelyscientificinterest。Asapolemic,itwas
decidedlysuccessful;itwasnodifficulttasktodisposeoftheschemeofequalitypropoundedbyGodwin。Already,in1761,
Dr。RobertWallacehadpublishedawork(whichwasamongstthoseusedbyMalthusinthecompositionofhisessay)
entitledVariousProspectsofMankind,Nature,andProvidence,inwhich,afterspeakingofacommunityofgoodsasa
remedyfortheillsofsociety,heconfessedthathesawonefatalobjectiontosuchasocialorganization,namely,"the
excessivepopulationthatwouldensue。"WithCondorcet’sextravagances,too,Malthuseasilydealt。Thateminentman,
amidstthetempestoftheFrenchRevolution,hadwritten,whilstinhidingfromhisenemies,hisEsquissed’untableau
historiquedel’esprithumain。Thegeneralconceptionofthisbookmakesitsappearanceanepochinththistoryoftheriseof
sociology。Init,ifweexceptsomepartialsketchesbyTurgot,(36)isforthefirsttimeexplainedtheideaofatheoryofsocial
dynamicsfoundedonhistory;anditsauthorisonthisgroundrecognizedbyComteashisprincipalimmediatepredecessor。
ButintheexecutionofhisgreatprojectCondorcetfailed。Hisnegativemetaphysicspreventhisjustlyappreciatingthepast,
andheindulges,atthecloseofhiswork,invaguehypothesesrespectingtheperfectibilityofourrace,andinirrational
expectationsofanindefiniteextensionofthedurationofhumanlife。Malthusseemstohavelittlesenseofthenoblenessof
Condorcet’sattitude,andnoappreciationofthegrandeurofhisleadingidea。Butofhischimericalhopesheisabletomake
shortwork;hisgoodsense,ifsomewhatlimitedandprosaic,isatleasteffectualindetectingandexposingutopias。
Theprojectofaformalanddetailedtreatiseonpopulationwasanafter—thoughtofMalthus。Theessayinwhichhehad
studiedahypotheticfutureledhimtoexaminetheeffectsoftheprinciplehehadputforwardonthepastandpresentstateof
society;andheundertookanhistoricalexaminationoftheseeffects,andsoughttodrawsuchinferencesinrelationtothe
actualstateofthingsasexperienceseemedtowarrant。Theconsequenceofthiswassuchachangeinthenatureand
compositionoftheessayasmadeit,inhisownlanguage,"anewwork。"Thebook,soaltered,appearedin1803underthe
title,AnEssayonthePrincipleofPopulation,oraViewofitsPastandPresentEffectsonHumanHappiness;withan
Enquiryintoourprospectsrespectingthefutureremovalormitigationoftheevilswhichitoccasions。
Intheoriginalformoftheessayhehadspokenofnocheckstopopulationbutthosewhichcameundertheheadeitherof
viceorofmisery。Henowintroducesthenewelementofthepreventivechecksuppliedbywhathecalls"moralrestraint,"
andisthusenabled,ashehimselfsaid,to"softensomeoftheharshestconclusions"atwhichhehadbeforearrived。The
treatisepassedthroughfiveeditions(37)inhislifetime,andinallofthemheintroducedvariousadditionsandcorrections。
Thatof1817isthelasthefullyrevised,andpresentsthetextsubstantiallyasithassincebeenreprinted。
Notwithstandingthegreatdevelopmentwhichhegavetohiswork,andthealmostunprecedentedamountofdiscussionto
whichitgaverise,itremainsamatterofsomedifficultytodiscoverwhatsolidcontributionhehasmadetoourknowledge,
norisiteasytoascertainpreciselywhatpracticalprecepts,notalreadyfamiliar,hefoundedonhistheoreticprinciples。This
twofoldvaguenessiswellbroughtoutinhiscelebratedcorrespondencewithSenior,inthecourseofwhichitseemstobe
madeapparentthathisdoctrineisnewnotsomuchinitsessenceasinthephraseologyinwhichitiscouched。Hehimself
tellsusthatwhen,afterthepublicationoftheoriginalessay,themainargumentofwhichhehaddeducedfromHume,
Wallace,AdamSmith,andPrice,hebegantoinquiremorecloselyintothesubject,hefoundthat"muchmorehadbeen
done"uponit"thanhehadbeenawareof。"Ithad"beentreatedinsuchamannerbysomeoftheFrencheconomists,
occasionallybyMontesquieu,and,amongourownwriters,byDr。Franklin,SirJamesSteuart,Mr。ArthurYoung,andMr。
Townsend,astocreateanaturalsurprisethatithadnotexcitedmoreofthepublicattention。""Much,however,"hethought,
"remainedyettobedone。Thecomparisonbetweentheincreaseofpopulationandfoodhadnot,perhaps,beenstatedwith
sufficientforceandprecision,"and"fewinquirieshadbeenmadeintothevariousmodesbywhichthelevel"between
populationandthemeansofsubsistence"iseffected。"Thefirstdesideratumherementioned——thewant,namely,ofan
accuratestatementoftherelationbetweentheincreaseofpopulationandthatoffood——Malthusdoubtlesssupposedto
havebeensuppliedbythecelebratedpropositionthat"populationincreasesinageometrical,foodinanarithmetical,ratio。"
Thisproposition,however,hasbeenconclusivelyshowntobeerroneous,therebeingnosuchdifferenceoflawbetweenthe
increaseofmanandthatoftheorganicbeingswhichformhisfood。J。S。MillisindignantwiththosewhocriticiseMalthus’s
formula,whichhegroundlesslydescribesasamere"passingremark,"because,ashethinks,thougherroneous,itsufficiently
suggestswhatistrue;butitissurelyimportanttodetectunrealscience,andtoteststrictlythefoundationsofbeliefs。When
theformulawhichwehavecitedisnotused,othersomewhatnebulousexpressionsarefrequentlyemployed,as,for
example,that"populationhasatendencytoincreasefasterthanfood,"asentenceinwhichbotharetreatedasiftheywere
spontaneousgrowths,andwhichonaccountoftheambiguityoftheword"tendency,"isadmittedlyconsistentwiththefact
assertedbySenior,thatfoodtendstoincreasefasterthanpopulation。Itmustalwayshavebeenperfectlywellknownthat
populationwillprobably(thoughnotnecessarily)increasewitheveryaugmentationofthesupplyofsubsistence,andmay,in
someinstances,inconvenientlypressupon,orevenforacertaintimeexceed,thenumberproperlycorrespondingtothat
supply。Norcoulditeverhavebeendoubtedthatwar,disease,poverty——thelasttwooftentheconsequencesofvice——are
causeswhichkeeppopulationdown。Infact,thewayinwhichabundance,increaseofnumbers,want,increaseofdeaths,
succeedeachotherinthenaturaleconomy,whenreasondoesnotintervene,hadbeenfullyexplainedbytheRev。Joseph
TownsendinhisDissertationonthePoorLaws(1786),which,wehaveseen,wasknowntoMalthus。Again,itissurely
plainenoughthattheapprehensionbyindividualsoftheevilsofpoverty,orasenseofdutytotheirpossibleoffspring,may
retardtheincreaseofpopulation,andhasinallcivilizedcommunitiesoperatedtoacertainextentinthatway。Itisonly
whensuchobvioustruthsareclothedinthetechnicalterminologyof"positive"and"preventivechecks"thattheyappear
novelandprofound;andyettheyappeartocontainthewholemessageofMalthustomankind。Thelaboriousapparatusof
historicalandstatisticalfactsrespectingtheseveralcountriesoftheglobe,adducedinthealteredformoftheessay,though
itcontainsagooddealthatiscuriousandinteresting,establishesnogeneralresultwhichwasnotpreviouslywellknown,
andisaccordinglyignoredbyJamesMillandothers,whorestthetheoryonfactspatenttouniversalobservation。Indeed,as
wehaveseen,theentirehistoricalinquirywasanafterthoughtofMalthus,who,beforeenteringonit,hadalready
announcedhisfundamentalprinciple。
Itwouldseem,then,thatwhathasbeenambitiouslycalledMalthus’stheoryofpopulation,insteadofbeingagreat
discovery,assomehaverepresentedit,orapoisonousnovelty,asothershaveconsideredit,isnomorethanaformal
enunciationofobvious,thoughsometimesneglected,facts。Thepretentiouslanguageoftenappliedtoitbyeconomistsis
objectionable,asbeingapttomakeusforgetthatthewholesubjectwithwhichitdealsisasyetveryimperfectlyunderstood
——thecauseswhichmodifytheforceofthesexualinstinct,andthosewhichleadtovariationsinfecundity,stillawaitinga
completeinvestigation。(38)
Itisthelawofdiminishingreturnsfromland(ofwhichmorewillbesaidhereafter),involvingasitdoes——thoughonly
hypothetically——theprospectofacontinuouslyincreasingdifficultyinobtainingthenecessarysustenanceforallthe
membersofasociety,thatgivestheprincipalimportancetopopulationasaneconomicfactor。Itis,infact,theconfluenceof
theMalthusianideaswiththetheoriesofRicardo,especiallywiththecorollarieswhichthelatter,asweshallsee,deduced
fromthedoctrineofrent(thoughthesewerenotacceptedbyMalthus),thathasledtotheintroductionofpopulationasan
elementinthediscussionofsomanyeconomicquestionsinrecenttimes。
Malthushadundoubtedlythegreatmeritofhavingcalledpublicattentioninastrikingandimpressivewaytoasubjectwhich
hadneithertheoreticallynorpracticallybeensufficientlyconsidered。Butheandhisfollowersappeartohavegreatly
exaggeratedboththemagnitudeandtheurgencyofthedangerstowhichtheypointed。(39)Intheirconceptionsasinglesocial
imperfectionassumedsuchportentousdimensionsthanitseemedtoovercloudthewholeheavenandthreatentheworld
withruin。Thisdoubtlessarosefromhishavingatfirstomittedaltogetherfromhisviewofthequestionthegreat
counteractingagencyofmoralrestraint。Becauseaforceexists,capable,ifunchecked,ofproducingcertainresults,itdoes
notfollowthatthoseresultsareimminentorevenpossibleinthesphereofexperience。Abodythrownfromthehandwould,
underthesingleimpulseofprojection,moveforeverinastraightline;butitwouldnotbereasonabletotakespecialaction
forthepreventionofthisresult,ignoringthefactthatitwillbesufficientlycounteractedbytheotherforceswhichwillcome
intoplay。Andsuchotherforcesexistinthecaseweareconsidering。Iftheinherentenergyoftheprincipleofpopulation
(supposedeverywherethesame)ismeasuredbytherateatwhichnumbersincreaseunderthemostfavourable
circumstances,surelytheforceoflessfavourablecircumstances,actingthroughprudentialoraltruisticmotives,ismeasured
bythegreatdifferencebetweenthismaximumrateandthosewhichareobservedtoprevailinmostEuropeancountries。
Underarationalsystemofinstitutions,theadaptationofnumberstothemeansavailablefortheirsupportiseffectedbythe
feltoranticipatedpressureofcircumstancesandthefearofsocialdegradation,withinatolerabledegreeofapproximationto
whatisdesirable。Tobringtheresultnearertothejuststandard,ahighermeasureofpopularenlightenmentandmore
serioushabitsofmoralreflectionoughtindeedtobeencouraged。Butitisthedutyoftheindividualtohisactualorpossible
offspring,andnotanyvaguenotionsastothepressureofthenationalpopulationonsubsistence,thatwillbeadequateto
influenceconduct。
TheonlyobligationonwhichMalthusinsistsisthatofabstinencefrommarriagesolongasthenecessaryprovisionfora
familyhasnotbeenacquiredorcannotbereasonablyanticipated。Theideaofpost—nuptialcontinence,whichhassincebeen
putforwardbyJ。S。Millandothers,isforeigntohisview。Heevensuggeststhatanallowancemightbemadefromthe
pubicfundsforeverychildinafamilybeyondthenumberofsix,onthegroundthat,whenamanmarries,hecannottellhow
manychildrenheshallhave,andthatthereieffromanunlooked—fordistressaffordedbysuchagrantwouldnotoperateas
anencouragementtomarriage。Thedutyofeconomicprudenceinenteringonthemarriedstateisplain;butinthecaseof
workingmentheideaofasecuredprovisionmustnotbeundulypressed,anditmustalsoberememberedthattheproper
ageformarriageinanyclassdependsonthedurationoflifeinthatclass。Still,tooearlymarriagesarecertainlynot
unfrequent,andtheyareattendedwithotherthaneconomicevils,sothatpossiblyevenlegalmeasuresmightwithadvantage
beresortedtoforpreventingtheminallranksbysomewhatpostponingtheageoffullcivilcompetence——achange,
however,whichwouldnotbewithoutitsdangers。Ontheotherhand,theMalthusiansoftenspeaktoolightlyofinvoluntary
celibacy,notrecognisingsufficientlythatitisadeplorablenecessity。Theydonotadequatelyestimatethevalueofdomestic
lifeasaschoolofthecivicvirtues,andthesocialimportance(evenapartfrompersonalhappiness)ofthemutualaffective
educationarisingfromtherelationsofthesexesinawell—constitutedunion。
Malthusfurtherinfersfromhisprinciplesthatstatesshouldnotartificiallystimulatepopulation,andinparticularthat
poor—lawsshouldnotbeestablished,and,wheretheyexist,shouldbeabolished。Thefirstpartofthispropositioncannotbe
acceptedasapplyingtoeverysocialphase,foritisevidentthatinacaselikethatofancientRome,wherecontinuous
conquestwasthechiefoccupationofthenationalactivity,orinotherperiodswhenprotractedwarsthreatenedthe
independenceorsecurityofnations,statesmenmightwiselytakespecialactionofthekinddeprecatedbyMalthus。In
relationtomodernindustrialcommunitiesheisdoubtlessingeneralright,thoughthepromotionofimmigrationinnew
statesissimilarinprincipletotheencouragementofpopulationThequestionofpoor—lawsinvolvesotherconsiderations。
TheEnglishsystemofhisdaywas,indeed,aviciousone,thoughactinginsomedegreeasacorrectiveofotherevilsinour
socialinstitutions;andeffortsforitsamendmenttendedtothepublicgood。Buttheproposalofabolitionisonefromwhich
statesmenhaverecoiled,andwhichgeneralopinionhasneveradopted。Itisdifficulttobelievethatthepresentsystemwill
bepermanent;itistoomechanicalandundiscriminating;onsomesidestoolax,itisoftenundulyrigorousinthetreatmentof
theworthypoorwhoarethevictimsofmisfortune;and,initsordinarymodesofdealingwiththeyoung,itisopentograve
objection。Butitwouldcertainlyberashtoabolishit;itisoneofseveralinstitutionswhichwillmorewiselyberetaineduntil
thewholesubjectofthelifeoftheworkingclasseshasbeenmorethoroughly,andalsomoresympathetically,studied。The
positionofMalthuswithrespecttothereliefofdestitutionissubjecttothisgeneralcriticism,that,firstprovingtoomuch,
hethenshrinksfromtheconsequencesofhisownlogic。itfollowsfromhisarguments,andisindeedexplicitlystatedina
celebratedpassageofhisoriginalessay,thathewhohasbroughtchildrenintotheworldwithoutadequateprovisionfor
themshouldbelefttothepunishmentofNature,that"itisamiserableambitiontowishtosnatchtherodfromherhand,"
andtodefeattheactionofherlaws,whicharethelawsofGod,andwhich"havedoomedhimandhisfamilytosuffer。"
Thoughhistheoryleadshimtothisconclusion,hecouldnot,asaChristianclergyman,maintainthedoctrinethat,seeingour
brotherinneed,weoughttoshutupourbowelsofcompassionfromhim;andthusheisinvolvedintheradical
inconsequenceofadmittingthelawfulness,ifnottheduty,ofrelievingdistressincaseswhereheyetmustregardtheactas
doingmischieftosociety。Buckle,whowasimposedonbymorethanoneoftheexaggerationsoftheeconomists,accepts
thelogicalinferencewhichMalthusevaded。Heallegesthattheonlygroundonwhichwearejustifiedinrelievingdestitution
istheessentiallyself—regardingone,thatbyremainingdeaftotheappealofthesuffererweshouldprobablyblunttheedgeof
ourownfinersensibilities。
ItcanscarcelybedoubtedthatthefavourwhichwasatonceaccordedtotheviewsofMalthusincertaincircleswasduein
parttoanimpression,verywelcometothehigherranksofsociety,thattheytendedtorelievetherichandpowerfulof
responsibilityfortheconditionoftheworkingclasses,byshowingthatthelatterhadchieflythemselvestoblame,andnot
eitherthenegligenceoftheirsuperiorsortheinstitutionsofthecountry。Theapplicationofhisdoctrines,too,madebysome
ofhissuccessorshadtheeffectofdiscouragingallactiveeffortforsocialimprovement。ThusChalmers"reviewsseriatim,
andgravelysetsasidealltheschemesusuallyproposedfortheameliorationoftheeconomicconditionofthepeople"onthe
groundthatanincreaseofcomfortwillleadtoanincreaseofnumbers,andsothelaststateofthingswillbeworsethanthe
first。
Malthushasinmorerecenttimesderivedacertaindegreeofreflectedlustrefromtheriseandwideacceptanceofthe
Darwinianhypothesis。Itsauthorhimself,intracingitsfiliation,pointstothephrase"struggleiorexistence"usedbyMalthus
inrelationtothesocialcompetition。Darwinbelievesthatmanhasadvancedtohispresentrelativelyhighconditionthrough
suchastruggle,consequentonhisrapidmultiplication。Heregards,itistrue,theagencyofthiscausefortheimprovement
ofourraceaslargelysupersededbymoralinfluencesinthemoreadvancedsocialstages。Yetheconsidersit,eveninthese
stages,ofsomuchimportancetowardsthatend,thatnotwithstandingtheindividualsufferingarisingfromthestrugglefor
life,hedeprecatesanygreatreductioninthenatural,bywhichheseemstomeantheordinary,rateofincrease。
Therehasbeenoflateexhibitedinsomequartersatendencytoapplythedoctrineofthe"survivalofthefittest"tohuman
societyinsuchawayastointensifytheharsherfeaturesofMalthus’sexpositionbyencouragingtheideathatwhatever
cannotsustainitselfisfated,andmustbeallowed,todisappear。Butwhatisrepellentinthisconceptionisremovedbya
wideviewoftheinfluenceofhumanity,asadisposingpower,alikeonvitalandonsocialconditions。Asinthegeneral
animaldomainthesupremacyofmanintroducesanewforceconsciouslycontrollingandultimatelydeterminingthedestinies
ofthesubordinatespecies,sohumanprovidenceinthesocialspherecanintervenefortheprotectionoftheweak,modifying
byitsdeliberateactionwhatwouldotherwisebeamerecontestofcomparativestrengthsinspiredbyselfishinstincts。(40)
DavidRicardo(1772—1823)isessentiallyoftheschoolofSmith,whosedoctrinesheinthemainaccepts,whilstheseeksto
developthem,andtocorrectthemincertainparticulars。ButhismodeoftreatmentisverydifferentfromSmith’s。Thelatter
aimsatkeepingclosetotherealitiesoflifeashefindsthem,——atrepresentingtheconditionsandrelationsofmenandthings
astheyare;and,asHumeremarkedonfirstreadinghisgreatwork,hisprinciplesareeverywhereexemplifiedandillustrated
withcuriousfacts。QuiteunlikethisisthewayinwhichRicardoproceeds。Hemovesinaworldofabstractions。Hesetsout
frommoreorlessarbitraryassumptions,reasonsdeductivelyfromthese,andannounceshisconclusionsastrue,without
allowingforthepartialunrealityoftheconditionsassumedorconfrontinghisresultswithexperience。Whenheseeksto
illustratehisdoctrines,itisfromhypotheticalcases,——hisfavouritedevicebeingthatofimaginingtwocontractingsavages,
andconsideringhowtheywouldbelikelytoact。Hedoesnotexplain——probablyhehadnotsystematicallyexamined,
perhapswasnotcompetenttoexamine——theappropriatemethodofpoliticaleconomy;andthetheoreticdefenceofhis
modeofproceedingwaslefttobeelaboratedbyJ。S。MillandCairnes。Buthisexamplehadagreateffectindeterminingthe
practiceofhissuccessors。Therewassomethinghighlyattractivetotheambitioustheoristinthesweepingmarchoflogic
whichseemedinRicardo’shandstoemulatethecertaintyandcomprehensivenessofmathematicalproof,andintheportable
andpregnantformulaewhichweresoconvenientinargument,andgaveaprompt,ifoftenamoreapparentthanreal,
solutionofdifficultproblems。WhatevertherewasoffalseornarrowinthefundamentalpositionsofSmithhadbeenina
greatdegreecorrectedbyhispracticalsenseandstronginstinctforreality,butwasbroughtoutinitsfulldimensionsand
evenexaggeratedintheabstracttheoremsofRicardoandhisfollowers。
Thedangersinherentinhismethodwereaggravatedbytheextremeloosenessofhisphraseology。Seniorpronounceshim
"themostincorrectwriterwhoeverattainedphilosophicaleminence。"Hismostardentadmirersfindhimfluctuatingand
uncertainintheuseofwords,andgenerallytracehiserrorstoaconfusionbetweentheordinaryemploymentofatermand
somespecialapplicationofitwhichhehashimselfdevised。
ThemostcompleteexpositionofhissystemistobefoundinhisPrinciplesofPoliticalEconomyandTaxation(1817)。This
workisnotacompletetreatiseonthescience,butaratherlooselyconnectedseriesofdisquisitionsonvalueandprice,rent,
wages,andprofits,taxes,trade,moneyandbanking。Yet,thoughtheconnectionofthepartsisloose,thesamefundamental
ideasrecurcontinually,anddeterminethecharacteroftheentirescheme。
Theprincipalproblemtowhichheaddresseshimselfinthisworkisthatofdistribution,——thatistosay,theproportionsof
thewholeproduceofthecountrywhichwillbeallottedtotheproprietorofland,tothecapitalist,andtothelabourer。(41)Anditisimportanttoobservethatitisespeciallythevariationsintheirrespectiveportionswhichtakeplaceintheprogress
ofsocietythatheprofessestostudy,——oneofthemostunhistoricalofwritersthusindicatingasenseofthenecessityofa
doctrineofeconomicdynamics——adoctrinewhich,fromhispointofview,itwasimpossibletosupply。
Theprinciplewhichheputsfirstinorder,andwhichisindeedthekeytothewhole,isthis——thattheexchangevalueofany
commoditythesupplyofwhichcanbeincreasedatwillisregulated,underarégimeoffreecompetition,bythelabour
necessaryforitsproduction。SimilarpropositionsaretobefoundintheWealthofNations,nottospeakofearlierEnglish
writings。Smithhadsaidthat,"intheearlyandrudestateofsocietywhichprecedesboththeaccumulationofstockandthe
appropriationofland,theproportionbetweenthequantitiesoflabournecessaryforacquiringdifferentobjectsseemstobe
theonlycircumstancewhichcanaffordanyruleiorexchangingthemwithoneanother。"Buthewaversinhisconception,
andpresentsasthemeasureofvaluesometimesthequantityoflabournecessaryfortheproductionoftheobject,sometimes
thequantityoflabourwhichtheobjectwouldcommandinthemarket,whichwouldbeidenticalonlyforagiventimeand
place。Thetheoremrequirescorrectionforadevelopedsocialsystembytheintroductionoftheconsiderationofcapital,and
takestheforminwhichitiselsewherequotedfromMalthusbyRicardo,thattherealpriceofacommodity"dependsonthe
greaterorlessquantityofcapitalandlabourwhichmustbeemployedtoproduceit。"(Theexpression"quantityofcapital"is
lax,theelementoitimebeingomitted,butthemeaningisobvious。)Ricardo,however,constantlytakesnonoticeofcapital,
mentioninglabouraloneinhisstatementofthisprinciple,andseekstojustifyhispracticebytreatingcapitalas"accumulated
labour;"butthisartificialwayofviewingthefactsobscuresthenatureoftheco—operationofcapitalinproduction,andby
keepingthenecessityofthisco—operationoutofsighthasencouragedsomesocialisticerrors。Ricardodoesnotsufficiently
distinguishbetweenthecauseordeterminantandthemeasureofvalue;nordoeshecarrybacktheprincipleofcostof
productionasregulatorofvaluetoitsfoundationintheeffectofthatcostonthelimitationofsupply。Itisthe"naturalprice"
ofacommoditythatisfixedbythetheoremwehavestated;themarketpricewillbesubjecttoaccidentalandtemporary
variationsfromthisstandard,dependingonchangesindemandandsupply;butthepricewillpermanentlyandinthelong
run,dependoncostofproductiondefinedasabove。OnthisbasisRicardogoesontoexplainthelawsaccordingtowhich
theproduceofthelandandthelabourofthecountryisdistributedamongsttheseveralclasseswhichtakepartin
production。
Thetheoryofrent,withwhichhebegins,thoughcommonlyassociatedwithhisname,andthoughitcertainlyformsthemost
vitalpartofhisgeneraleconomicscheme,wasnotreallyhis,nordidhelayclaimtoit。Hedistinctlystatesintheprefaceto
thePrinciples,that"in1815Mr。Malthus,inhisInquiryintotheNatureandProgressofRent,andafellowofUniversity
College,Oxford,inhisEssayontheApplicationofCapitaltoLand,presentedtotheworld,nearlyatthesamemoment,the
truedoctrineofrent。"ThesecondwriterherereferredtowasSirEdwardWest,afterwardsajudgeofthesupremecourtof
Bombay。StillearlierthanthetimeofMalthusandWest,asM’Cullochhaspointedout,thisdoctrinehadbeenclearly
conceivedandfullystatedbyDr。JamesAndersoninhisEnquiryintotheNatureofCorn—Laws,publishedatEdinburghin
1777。(42)ThatthistractwasunknowntoMalthusandWestwehaveeveryreasontobelieve;butthetheoryiscertainlyas
distinctlyenunciatedandassatisfactorilysupportedinitasintheirtreatises;andthewholewayinwhichitisputforwardby
AndersonstrikinglyresemblestheforminwhichitispresentedbyRicardo。