If the question of freedom from all restraint on industry, except such re straints as have been alluded to, is de termined in favour of freedom, there will still be plenty for the economist to do. The greatest enemy to man is his own ignorance. The mode in which men shall so organize their labour that each shall get more out of the common stock by such'organization than by any other mode, is the great question that concerns us all. Knowledge must guide our in dustry, or it may be fruitless, even though it has perfect liberty of action. Enjoy ment is the end to which knowledge alone can lead us. Enjoyment implies the sufficient and reasonable satisfaction of the appetites, which must precede the enjoyment of the imagination and the intellectual faculties ; the harmonious combination of the two enjoyments makes Happiness.
The field for the Political Economist is as extensive as Society itself; but his labour has certain limits. He may often determine when legislation is unwise, or when it is wanted : but he does not con cern himself about the making of the law. He is satisfied if a bad law is re pealed, or if, when useful, it is so framed as to accomplish the object. Nor does he concern himself about forms of Polity, or systems of religion or morals, or philosophy as such. But he does in vestigate the mode in which they operate upon industry directly or indirectly and mainly their mode of operation on the primary wants, those wants which all men seek to satisfy, and which all must in some degree satisfy, or they must cease to live. The great test, the unerring test, of the condition of a nation, is the con dition of those who labour for their daily bread. If these have sufficient, it is a certain deduction that others have more than sufficient, and that there may be improvement in the social and moral condition of all classes. But ignorance may prevent improvement. It will, there
fore, be the province of the economist to show how, when the primary wants of a people are satisfied, they may secure, so far as it can be secured, so happy a con dition, and also to show by what combina tions the gratification of the secondary wants may be secured with the least trouble and expense. The fundamental principles of the economist are indeed, as it has been often remarked, very few ; and it is equally true that very little can be deduced from them. They must be constantly applied, in the way of test and correction, and the matter to which they must be applied is the experience of man. A wise man neither rejects nor over values the axioms of his science ; but when his subject is " immersed in mat ters," to use an expression of Bacon, he knows better than to expect a few axioms, even if absolutely true, to solve problems to the whole or parts of which they will often not apply.
The Literature of Political Economy is very copious. Much that has been written is of little value for practice, but curious and useful as a history of opinion. An outline of this part of the subject is given in the Penny Cyclopedia,' under the title "Political Economy ;" and in 1845 Mr. M'Culloch published a useful work en titled The Literature of Political Eco nomy.' It is a classified catalogue of the principal works in the different depart ments of Political Economy, and is interspersed with historical, critical, and biographical notices.
A few years ago a Professorship of Political Economy was founded in the University of Oxford, by Mr. Drummond. Archbishop Whately has founded a simi lar professorship in the University of Dublin. There are unendowed professor ships in the University of Cambridge, and in University College and King's College, London ; but that of University College, London, has not been filled for several years.