Spencer Heath Archive

Item 2082

Penned notes on Henry George, Science of Political Economy. Apparently very early, since using both a steel pen and style of writing.

 

Three factors in the world —

Spirit, Matter, Energy

Man, Reason, not instinct

The only producer

Man’s powers extended by

Social advance, not individual

Collective knowledge

Cooperation unconscious

Civilization inheres not in the body politic, but economic  p.27

     Originated in reason.

Reason impels exchange.

Knowledge vs. Skill

     Inheres in Society — grows by cooperation

Science — Laws of Nature, not of men

     Political Economy — Is it a science?

Not Politics

A system or natural arrangement

Physical needs first

______

Not selfishness

“Least exertion”

Not an art

BOOK II

Chap 1    What is wealth. No definition by Ricardo, Chalmers,

Rogers, Cairnes, Marx, Bohm-Bawerk. Perry proposed to abandon the word. Cloy now dropped. Kite without tail.

Chap 2    Slavery caused confusion as to wealth.

         Bullet in body or brain

Chap 3    Smith’s idea of wealth.

Chap 4    Physiocrats  (free)

         MacLeod’s estimate of them

Chap 5    Smith’s appreciation of Physiocrats

          Did not go to free land   Prudence

______

Smith’s influence

Cairnes’ prophecy  1856

“Economics”

______

Value — confusion

Theory of.

Value from (1) Production, (2) Obligation

Chap 15  Value from Production is wealth.

Chap 16  How wealth originates — what it is

Chap 17   Wealth that is called Capital

Chap 18   Why Political Economy considers wealth only

Chap 19   Moral confusions as to wealth. Wealth good

          Rich and poor correlative

Chap 20   Permanence of Wealth

         Production values — Obligation values

 

Distribution   not a matter of human law

              Mill’s argument

Natural law violated, effect is felt on future production.

Diverted circulation of wealth

Dead civilizations

Laws of Distribution moral laws

Penalties for wrong

The basis of property Natural law.

Office of Competition

     Just level of trade and service

     A natural law

Factors of Production

1. Land, (2) Labor, (3) Capital
2. Passive factor, (2) Active factor, (3) Secondary factor

Distribution

Meaning of — Last step in production

            Not Exchange or transportation

            Division of wealth into categories corresponding

   to categories or factors of production