Elements of Political Economy

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As in the case of other complex economic conceptions {e-g. Equality of taxation) it may be made more clear by a con- sideration of the opposite. Negatively, then, the economic principle as here understood is opposed to distribution by force or by privilege or habit or unconscious routine, as exemplified in successive systems of law and custom. All that is involved in this general statement can only be realised by the study of economic history. If we take a rapid survey of the salient features o
...f the distribution of wealth in England at different periods, we observe through the ages that the economic principle becomes more and more the dominating purpose. In the Roman occupation distribution rested on slavery and extortionate taxation ; in the Saxon economy the possession of land gave the command over labour; but from the Norman Conquest throughout the mediteval period the force of this economic principle reduced more and more the privileges of the crown, the nobility, and the church ; it weakened the power of the landholders over the serfs, and at the end of the period it l)roke down the monopolies of gilds and corporations.

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