Economics 1776 Chapter Notes - Chapter Bowen: Francis Bowen
18 Jun 2018
School
Department
Course
Professor
The$Principles$of$Political$Economy$Applied$to$the$Condition,$the$Resources,$and$the$
Institutions$of$the$American$People$
!"#$%&'()*+,$(-- ."*/,''*"(*/(0*"#1(23&1*'*234(#$5(%&6&1(2*1&74(#7(8#"6#"5(9*11,:,
;<3,(3,#6,$'(5*(&$5,,5(=5,%1#",(73,(:1*"4(*/(>*5?=(#$5(73,(3@0#$(A*54(&'(
/,#"/@114(#$5(+*$5,"/@114(0#5,B(A@7(0#$?(%*$'&5,",5($*7(0,",14(#'(#$(
*":#$&C,5(A,&$:?(A@7(#'(#("#7&*$#1(#:,$7(#$5(#'(#(0,0A,"(*/('*%&,74?(&'(2,"3#2'(
73,(0*'7(+*$5,"/@114(%*$7"&6,5(2"*5@%7(*/(D&6&$,(+&'5*0(73#7(+,(3#6,(#$4(
E$*+1,5:,(*/;(FGGH
I
;.*1&7&%#1(,%*$*0&'7'(",'7(73,&"(0*'7(%*02",3,$'&6,(#$5(0*'7($*7,5(0#J&0?(--
73,(laissez-faire?(*"(=1,7-#1*$,=(2"&$%&21,?(-- 73,(5*%7"&$,(*/($*$-&$7,"/,",$%,(A4(
73,(:*6,"$0,$7(+&73(73,(,%*$*0&%#1(&$7,",'7'(*/('*%&,74;(FGGH
I
9#11'(2,*21,(73#7(1**E(/*"(&00,5,(2"*/&7(#$5($*7(7*(73,(2@A1&%(#56#$7#:,(*"(
5&'7#$7(/@7@",(#'(;$*7(*$14(',1/&'3B(73,4(#",(*/7,$(&:$*"#$7?('3*"7-'&:37,5?(#$5(
@$%*$'%&*@'(*/(0@%3(*/(73,(+*"E(73#7(73,4(5*;(FGGH
I
K,$(#",(*/7,$(#:,$7'?(+3*(5*(3&'(+*"E?(#$5(E$*+(&7($*7L(8,(7@"$,73(73,&"(
',1/&'3$,''(7*(:**5
○
<3&'(0,#$'(73#7(>*5(",:@1#7,'(73,0(A4(3&'(:,$,"#1(1#+'?(+3&%3(
#1+#4'?(&$(73,(1*$:("@$?(+*"E(7*(:**5
§
"Laissez-faire;,'these%things%regulate%themselves'"
○
;)@7('*%&,74(&'(#(%*021,J(#$5(5,1&%#7,( 0#%3&$,?(73,(",#1(M@73*"(#$5(>*6,"$*"(*/(
+3&%3(&'(5&6&$,;(FGGH
I
<3,(*//&%,(*/(73,(1,:&'1#7*"(&'($*7?(A4(3&'(*+$('@2,"&*"(+&'5*0?(7*(%3#1E(
*@7(#(2#73(/*"('*%&,74(7*(0*6,(&$?(A@7(7*(",0*6,(#11(%#'@#1(#$5(@$$#7@"#1(
&02,5&0,$7'(/"*0(73#7(2#73(+3&%3('*%&,74(&$'7&$%7&6,14(%3**','(/*"(&7',1/
○
"Human%laws,%if%wisely%framed,%are%seldom%mandatory,%or%such%as%
require%an%active%obedience;%they%are%mostly%prohibitive,%or%designed%to%
prevent%such%action%on%the%part%of%the%few%as%would%impede%or%limit%the%
healthful%action%of%the%many"%(23)
○
;N,:&'1#7&*$(5&",%7,5(7*(73&'(,$5(O",0*6&$:(6&%,(#$5(%"&0,P(&'(*$14(#(
1,:&7&0#7,(%#""4&$:(*@7(*/(73,(1#&'',C-/#&",(2"&$%&21,;(FGQH
○
○
N&0&7#7&*$'(*/(N#&'',C-/#&",
I
Bowen&Reading&(10/31)
<@,'5#4?( R%7*A,"( ST?(GUTV
VWTX(.K
