Excerpt from Philosophy and Political Economy in Some of Their Historical Relations
Political Economy, or the study of the relation of human society to its material wealth, and Philosophy, or the study of first principles and ultimate issues, have at various times exerted an influence on one another which the history of economics and philosophy makes very evident.
Economical facts and practice, the actual condition of national industries, wealth, and trade, as distinguished from theories about them, have, no doubt, had a still greater influence, both on economists and philosophers; and to estimate this effect of practice on theory would be a larger and perhaps a more important inquiry. Some writers have regarded this second inquiry as almost superseding the other, on the ground that the supreme force in human history is economical. It is clear that we may at least go as far as Erdmann, who begins his chapters on Greek Philosophy with the remark that philosophy arises when the struggle for existence has given place to a life of leisure.
But it is only the former question that can be considered here, namely, how far men's thoughts about the world, and human life in general, have affected their thoughts about the economical element of human life in particular, and how far this influence of thoughts upon thoughts may have been mutual. The subject cannot, in the limits of a single volume, be treated in full detail; but by the aid of the references the reader may supply this defect if he will.
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