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