Dept of
Economics

In 1770, Scottish economist Sir James Steuart wrote An Inquiry into the Principles of Political Economy, the first book in English with "political economy" in its title, describing it as: Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary for supplying the wants of the society, and to employ the inhabitants[...] in such manners naturally to create reciprocal relations and dependencies between them, so as to supply one another with reciprocal wants.[2] The title page lists subjects including "population, agriculture, trade, industry, money, coins, interest, circulation, banks, exchange, public credit, and taxes"..

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