Excerpt from The Science of Political Economy
This work, begun in 1891, after returning from a lecturing tour through Australia and a trip around the world, grew out of the author's long-cherished purpose to write a small text-book, which should present in brief the principles of a true political economy. This "Primer of Political Economy" was to set forth in direct, didactic form the main principles of what he conceived to be an exact and indisputable science, leaving controversy for a later and larger work.
Before proceeding far, however, the author realized the difficulty of making a simple statement of principles while there existed so much confusion as to the meaning of terms. He therefore felt impelled to change his plan, and first to present the larger work, which should recast political economy and examine and explicate terminology as well as principles; and which, beginning at the beginning, should trace the rise and partial development of the science in the hands of its founders a century ago, and then show its gradual emasculation and at last abandonment by its professed teachers - accompanying this with an account of the extension of the science outside and independently of the schools, in the philosophy of the natural order now spreading over the world under the name of the single tax.
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