Political Economy by Samuel Taylor Coleridge

Name: Political Economy
Author: Samuel Taylor Coleridge

The work critiques modern political economy, arguing that it often lacks true understanding and is based on flawed reasoning. It asserts that much of what is claimed in economic theory is derived from moral and religious principles that are already known to common sense. The author contends that political economy cannot be a pure science, as it deals with practical problems rather than abstract theorems. The text emphasizes that economic principles must be grounded in reality and acknowledges the complexities of human society. It critiques the notion of reducing prices without considering the broader implications, such as national strength and social cohesion. The author suggests that the real cost of an article extends beyond its market price, incorporating moral and social consequences. Ultimately, the work calls for a recognition of the interconnectedness of economic actions and their effects on society, advocating for a more holistic approach to understanding political economy that considers ethical dimensions and practical realities.

By Samuel Taylor Coleridge · First published 1830 · Genre: Political Philosophy, Economics, Social Criticism · 410 words

First lines

What solemn humbug this modern political economy is! What is there true of the little that is true in their dogmatic books, which is not a simple deduction from the moral and religious _credenda_ and _agenda_ of any good man, and with which we were not all previously acquainted, and upon which every man of common sense instinctively acted? I know none. But what they truly state, they do not truly understand in its ultimate grounds and causes; and hence they have sometimes done more mischief by their half- ignorant and half-sophistical reasonings about, and deductions from, well- founded positions, than they could have done by the promulgation of positive error. This particularly applies to their famous ratios of increase between man and the means of his subsistence. Political economy, at the highest, can never be a pure science. You may demonstrate that certain properties inhere in the arch, which yet no bridge-builder _can_ ever reduce into brick and mortar; but an abstract conclusion in a matter of political economy, the premisses of which neither exist now, nor ever will exist within the range of the wildest imagination, is not a truth, but a chimera -- a practical falsehood. For there are no theorems in political economy -- but problems only. Certain things being actually so and so; the question is, _how_ to _do_ so and so with them. Political _philosophy_, indeed, points to ulterior ends, but even those ends are all practical; and if you desert the conditions of reality, or of common probability, you may show forth your eloquence or your fancy, but the utmost you can produce will be a Utopia or Oceana.

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Political Economy is listed on Textopian as an essay by Samuel Taylor Coleridge, dated 1830 CE.

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Work type: Essay
Author: Samuel Taylor Coleridge
Date: 1830 CE
Language: English
Genres: Political Philosophy, Economics, Social Criticism, Philosophy, Essays
Length: 410 words
Structure: 1 section, 3 paragraphs
Reading fit: Difficult (College Level)

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Genres

Political Philosophy — The text critiques modern political economy and discusses moral and ethical implications, aligning closely with political philosophy.
Economics — The work engages directly with concepts of political economy, addressing its principles and critiques.
Social Criticism — The text examines societal impacts of economic theories, reflecting on moral and social consequences.
Philosophy — The exploration of abstract concepts and the nature of truth in political economy indicates a philosophical approach.