Designed for Use in BY E. J. BURKE, S.J. PROFESSOR OF POLITICAL ECONOMY IN FORDHAM UNIVERSITY HARVARD 42*253 Imprimi Potest. JOSEPH F. HANSELMAN, S.J., Nihil Obstat. REMIGIUS LAFORT, D.D., Censor. Imprimatur. JOHN CARDINAL FARLEY, Archbishop of New York NEW YORK, September 8, 1912. COPYRIGHT, 1913, BY E. J. BURKE. COPYRIGHT, 1913, IN GREAT Britain. W. P. I PREFACE THE purpose of this book is to present a general view of Political Economy with its various topics and problems, so as to enable the student and the general reader to understand the political and social questions that form matter of daily discussion. A special feature of the work is to show the Catholic doctrine wherever the subjects enter into or touch on the domain of Ethics. No particular effort has been made to bring in Catholic dogma or teaching. When the subject naturally introduces Catholic principles, they have been dwelt upon with the detail that has been thought necessary. Free use has been made of the numerous works on Economics already published. It would be impossible to enumerate all the authors who have been a help in the writing of these pages. Where immediate assistance has been found, credit is given to the sources, as far as possible. The book is the result of many years' teaching in the classroom, and no little credit is due to the intelligent and critical audiences the author has had during the time he taught the subject at Holy Cross College. No attempt has been made to pass judgment on all the various points that come up for discussion. It is not believed that a book of this nature should take sides on all open subjects that may appeal differently to different individuals. The book is designed to reach the minds of young people yet in a formative state, and its purpose is not to incline their opinion towards either side of disputable questions. The exposition of the principles of a science is one thing, the full practical application of each of those principles to actual cases is another. Hence the endeavor has been to present both sides in all subjects that are recognized as matter of legitimate discussion, and to allow the reader to form his own opinion or judgment on the matter. The author takes this occasion to thank very sincerely those whose encouragement has made the publication of this volume possible, and to express his obligations to the writers on economic subjects of whose works he has freely made use. CONTENTS I. DEFINITION OF POLITICAL ECONOMY. Political Economy a practical science Political Economy subject to Ethics Political Economy distinct from Ethics. Political Economy subordinate to Political Science II. METHOD OF POLITICAL ECONOMY. Subject matter of Political Economy (2) Adam Smith and his followers. Position of the Catholic School. |