My object in publishing the following Discourse has been to furnish the Students of Political Economy with a general view of the principles on which the science is founded; the distinguishing features of the most celebrated theories that have been advanced to explain its various results ; the distinction between it and Politics; the utility of its study to all ranks and orders of the community ; and the plan I follow in teaching it, both in my public and private classes. I had previously attempted to do this in an Introductory Lecture to the Course I have delivered here and in London ; but it was impossible, in so narrow a space, to touch on many topics that I have here discussed at considerable length, or to treat others so fully as their importance seemed to require. Though the Discourse is chiefly intended for the use of those who may attend my classes) I am not without hopes that it may be of service to others.

If the interest and importance of the subjects of which it treats be any test of the interest and importance of a science, Political Economy will be found to have the strongest possible claims on the public attention. Its object is to point out the means by which the industry of man may be rendered most productive of those necessaries, comforts,. and enjoyments, which constitute wealth; to ascertain the proportions in which this wealth is divided among the different classes of the community ; and the mode in which it may be most advantageously consumed. The intimate connection of such a science, with all the best interests of society, is abundantly obvious. There is no other, indeed, which comes so directly home to the everyday occupations and business of mankind. The consumption of wealth is indispensable to existence; but the eternal law of Providence has decreed, that wealth can only be procured by industry,—that man must earn his bread in the sweat of his brow. This twofold necessity renders the production of wealth a constant and principal object of the exertions of the vast majority of the human race; has subdued the natural aversion of man from labour ; given activity to indolence ; and armed the patient hand of industry with zeal to undertake, and patience to overcome, the most irksome and disagreeable tasks.

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Tags: Capital Political Economics, Political Economics