10

POLITICAL  ECONOMY

Now,  if  early  economic  writings  be  examined
as  a  whole  it  will  be  found  that  considerations
of  quite  different  classes  are  included.  We
find  in  them  questions  of  an  ethical  or  moral
character,  concerned  with  the  application  of
the  ideas  of  the  good  and  the  just  in  social
affairs  ;  and  questions  of  somewhat  the  same
order,  though  they  are  not  strictly  ethical  but
rather  political,  relating  to  the  matter  of  prudency
  and  expediency  as  regards  State  action.
And  besides  these  ethical  and  political  questions ­
  yet  others  of  different  orders  are  met
with.  Controversy  has  arisen,  for  instance,
with  respect  to  the  business  policy  which  is
most  conducive  to  the  wealth  of  individuals
or  the  community  ;  and  again,  quite  apart
from  practice,  writers  have  sought  the  causes
of  certain  effects.  After  noticing  the  various
problems  which  are  merged  in  unsystematic
economic  discussions  taken  in  the  mass,  we
shall  find  it  convenient  to  make  a  division  of
economic  studies  somewhat  like  the  following  :
1.  Economic  Ethics.
2.  Economic  Politics  or  Public  Economics.
3.  Economic  Arts.
4.  Positive  Economic  Science.
A  short  definition  of  each  of  these  groups
may  now  be  offered.  Economic  ethics  is