political-economy

"If we engraft the current meaning of the word "economy" (the avoiding of waste) upon its etymological meaning (the administration of a household), we shall arrive at "the administration of the affairs and resources of a household in such a manner as to avoid waste and secure efficiency" as our conception of "Economy." "Political" Economy would, by analogy, indicate the administration, in the like manner, of the affairs and resources of a State, regarded as an extended household or community, and regulated by a central authority; and the study of Political Economy would be the study of the principles on which the resources of a community should be so regulated and administered as to secure the communal ends without waste."

"The whole Marxian system springs from classical political economy as it found expression in Ricardo."

"David Ricardo is without doubt the greatest representative of classical political economy. He carried his work begun by Smith to the farthest point possible without choosing one or the other of the roads which led out of the contradiction inherent in it."

"Political economy has only become a science since it has been confined to the results of inductive investigation."

"Both the Soviet and the Nazi political economies relied upon collectives that controlled social groups and extracted their resources. The collective farm, the instrument of Stalin’s great transformation of the Soviet countryside from 1930, was used by German occupation authorities from 1941. In the occupied Polish, Lithuanian, Latvian, and Soviet cities the Germans added a new collective: the ghetto. The urban Jewish ghettos, although originally meant as resettlement points, became zones for the extraction of Jewish property and Jewish labor. Their nominal Jewish authorities of the Judenrat could usually be relied upon to raise “contributions” and organize labor brigades. Both the ghettos and the collective farms were administered by local people. Both the Nazi and the Soviet systems built large systems of concentration camps. Hitler would have used the Soviet camps for Jews and other ostensible enemies if he could have, but Germany never conquered enough of the Soviet Union to make that possible."

"In general the claim can be supported that a view of classical political economy as committed to extreme laissez-faire or unmitigated economic individualism misrepresents or at the very least analytically overgeneralizes their circumscribed theoretical and practical aims. In general then, with regard to both political and economic liberty, the classical political economists might be seen to be united in their efforts to theorize and systematize the productive and allocating functions of the mechanism of the market as the most efficient means to engender the growth of wealth. At the same time, classicals such as Smith, Malthus, Ricardo, and Mill recognized that the market, of necessity, operated in a larger context of restriction – not only legal, but equally as important, within political, religious, moral, and conventional restrictions – which could not be readily or in some cases even desirably overcome."

"As there are so many who talk prose without knowing it, or, again, who syllogize without having the least idea what a syllogism is, so economists have long been mathematicians without being aware of the fact."

"… the Union can grow powerful only by fostering the manufacturing interest. This, Sir, I think the true American political economy."

"It has been said, and perhaps with truth, that the conclusions of Political Economy partake more of the certainty of the stricter sciences than those of most of the other branches of human knowledge."

"If there is one well-established truth in political economy, it is this:"

"Assume that the new elite were clearly and simply to proclaim its intentions which are to supplant the old elite; no one would come to its assistance, it would be defeated before having fought a battle. On the contrary, it appears to be asking nothing for itself, well knowing that without asking anything in advance it will obtain what it wants as a consequence of its victory."

"Alongside their work on pure economic theory, the classical political economists engaged in a parallel project: to promote the forcible reconstruction of society into a purely market-oriented system. ... Most people in Britain did not enthusiastically engage in wage labor—at least so long as they had an alternative. To make sure that people accepted wage labor, the classical political economists actively advocated measures to deprive people of their traditional means of support. ... Perhaps because so much of what the classical economists wrote about traditional systems of agricultural production was divorced from the seemingly more timeless remarks about pure theory, later readers have passed over such portions of their works in haste. ... I argue that these interventionist recommendations were a significant element in the overall thrust of their works. Specifically, classical political economy advocated restricting the viability of traditional occupations in the countryside to coerce people to work for wages."

"The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science."

"Severe inequality undermines political stability, and political stability is foundational for financial market development."

"Public services, in other words, are owed by the state — and its governors — to the governed. They are nothing like a favor that the state generously extends toward the governed, despite the negative connotations years of liberal polemics have imposed upon the phrase "the welfare state." , one of the most important theorists of the public service, made this fundamental point at the beginning of the twentieth century: it is the primacy of the duties of those in power in relation to the governed that forms the basis of what we call the "public service." For Duguit, public services are not a manifestation of state power, but a limitation of governmental power. The public service is a mechanism by which the governors become the servants of the governed. These obligations, which are imposed on those who govern as well as the agents of government, form the basis of what Duguit calls "public responsibility." This is why the public service is a principle of social solidarity, one which is imposed on all, and not a principle of sovereignty, inasmuch as the latter is incompatible with the very idea of public responsibility. This conception of the public service has largely been suppressed by the fiction of state sovereignty. But the public service nonetheless continues to make itself felt by virtue of the strong connection citizens feel toward what they still consider to be a . For the citizen's right to public services is the strict corollary of the duty or obligation of state representatives to provide public services. This why the citizens of various European countries affected by the current crisis have demonstrated, in diverse ways, their attachment to public services in their daily fight against the coronavirus: for instance, the citizens of numerous Spanish cities have applauded their healthcare workers from their balconies, regardless of their political attitude toward the centralized ."

"Two relations must therefore be carefully separated here: the citizenry’s attachment to the public service, and healthcare in particular, in no way suggests adherence to public authority or public power in its various forms, but rather suggests an attachment to services whose essential function is to meet the public's need. Far from disclosing an underlying identification with the nation, this attachment gestures toward a sense of a universal that crosses borders, and accordingly renders us sensitive to the trials our "pandemic co-citizens" are enduring, whether they are Italian, Spanish, or live beyond European borders."

"My creed is that public service must be more than doing a job efficiently and honestly. It must be a complete dedication to the people and to the nation with full recognition that every human being is entitled to courtesy and consideration, that is not only to be expected but sought, that smears are not only to be expected but fought, that honor is to be earned but not bought."

"Performance appraisal (PAR) of public sector employees is the appraisal committee's impersonal evaluation of the public service rendered by public servants in their impersonal capacity in a public organisation; hence there is nothing "personal" about PAR."

"It is too rarely recognized that the concept of "public" is absolutely irreducible to the "state." The term "publicum" designates not merely the state administration, but the entire community as constituted by all citizens: public services are not state services, in the sense that the state can dispense these services as it pleases, nor are they merely an extension of the state: they are public in the sense that they exist "in the service of the public." It is in this sense that they constitute a of the state toward its citizens."