The Forgotten Man, and Other Essays
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About This Book
Though his writings are not spoken of as frequently as they once were, William G. Sumner was a prominent voice in the laissez-faire economic and social philosophies of the late 19th century. This 1919 volume collects some of his most significant essays and lectures, including: . "Protectionism, the -Ism which Teaches that Waste Makes Wealth" (1885) . "What is Free Trade?" (1886) . "Prosperity Strangled by Gold" (1896) . "The Delusion of the Debtors" (1896) . "The Philosophy of Strikes" (1883) . "Trusts and Trade-Unions" (1888) . "Shall Americans Own Ships?" (1881) . "The Science of Sociology" ...
Chapters (553)(click to expand)
- THE FORGOTTEN MAN AND OTHER ESSAYS
- PREFACE
- CONTENTS
- PROTECTIONISM THE -ISM WHICH TEACHES THAT WASTE MAKES WEALTH [1885]
- PREFACE
- Chapter I DEFINITIONS: STATEMENT OF THE QUESTION TO BE INVESTIGATED
- (A) The System of which Protection is a Survival.
- (B) Old and New Conceptions of the State.
- (C) Definition of Protectionism—Definition of “Theory.”
- (D) Definition of Free Trade and of a Protective Duty.
- (E) Protectionism Raises a Purely Domestic Controversy.
- (F) “A Protective Duty is not a Tax.”
- Chapter II PROTECTIONISM EXAMINED ON ITS OWN GROUNDS
- (A) Assumptions in Protectionism.
- (B) Necessary Conditions of Successful Protective Legislation.
- (C) Examination of the Means Proposed, viz., Taxes.
- (D) Examination of the Plan of Mutual Taxation.
- (E) Examination of the Proposal to “Create an Industry.”
- (F) Examination of the Proposal to Develop our Natural Resources.
- (G) Examination of the Proposal to Raise Wages.
- (H) Examination of the Proposal to Prevent Competition by Foreign Pauper Labor.
- (I) Examination of the Proposal to raise the Standard of Public Comfort.
- Chapter III PROTECTIONISM EXAMINED ADVERSELY
- 1. PROTECTIONISM INCLUDES AND NECESSARILY CARRIES WITH IT HOSTILITY TO TRADE OR, AT LEAST, SUSPICION AGAINST TRADE
- 2. PROTECTIONISM IS AT WAR WITH IMPROVEMENT.
- 3. PROTECTION LOWERS WAGES.
- 4. PROTECTIONISM IS SOCIALISM
- Chapter IV SUNDRY FALLACIES OF PROTECTIONISM
- (A) That Infant Industries can be Nourished up to Independence and that they then Become Productive.
- (B) That Protective Taxes do not Raise Prices but Lower Prices.
- (C) That we should be a Purely Agricultural Nation under Free Trade.
- (D) That Communities which Manufacture are More Prosperous than those which are Agricultural.
- (E) That it is an Object to Diversify Industry, and that Nations which have Various Industries are Stronger than Others which have not Various Industries.
- (F) That Manufactures Give Value to Land.
- (G) That the Farmer, if he Pays Taxes to Bring into Existence a Factory, which would not otherwise Exist, will Win more than the Taxes by Selling Farm Produce to the Artisans.
- (H) That Farmers Gain by Protection, because it Draws so many Laborers out of Competition with them.
- (I) That our Industries would Perish without Protection.
- (J) That it would be Wise to Call into Existence Various Industries, even at an Expense, if we could thus Offer Employment to all Kinds of Artisans, etc., who might Come to us.
- (K) That we Want to be Complete in ourselves and Sufficient to ourselves, and Independent, as a Nation, which State of Things will be Produced by Protection.
- (L) That Protective Taxes are Necessary to Prevent a Foreign Monopoly from Getting Control of our Market.
- (M) That Free Trade is Good in Theory but Impossible in Practice; that it would be a Good Thing if All Nations would have it.
- (N) That Trade is WAR, so that Free Trade Methods are Unfit for it, and that Protective Taxes are Suited to it.
- (O) That Protection Brings into Employment Labor and Capital which would otherwise be Idle.
- (P) That a Young Nation Needs Protection and will Suffer some Disadvantage in Free Exchange with an Old One.
- (Q) That we Need Protection to Get Ready for War.
- (R) That Protectionism Produces some Great Moral Advantages.
- (S) That a “Worker may Gain More by Having his Industry Protected than he will Lose by Having to Pay Dearly for what he Consumes. A System which Raises Prices all round—like that in the United States at present—is Oppressive to Consumers, but is Most Disadvantageous to those who Consume without Producing anything, and Does Little, if Any, Injury to those who Produce More than they Consume.”
- (T) That “A Duty may at once Protect the Native Manufacturer Adequately, and Recoup the Country for the Expense of Protecting him.”
- Chapter V SUMMARY AND CONCLUSION
- TARIFF REFORM32
- WHAT IS FREE TRADE?33
- PROTECTIONISM TWENTY YEARS AFTER34
- PROSPERITY STRANGLED BY GOLD35
- CAUSE AND CURE OF HARD TIMES36
- THE FREE-COINAGE SCHEME IS IMPRACTICABLE AT EVERY POINT37
- The Program.
- Free Silver Means Fiat Paper Money.
- Limit of the Amount of Silver which could be Absorbed.
- It is Impossible Indefinitely to Increase the Circulation.
- Antagonistic Interests of Miners and Populists.
- The Rise of Prices.
- Where the Expected Gains would Go.
- Playing into the Hands of the Money Sharks.
- THE DELUSION OF THE DEBTORS38
- The Re-monetization of Silver.
- Financial Institutions as Debtors.
- Small Mortgagors.
- Farmer-Mortgagors.
- Social War the Consequence.
- The Exploded Booms.
- THE CRIME OF 187340
- Legislative History of the Act of 1873.
- Was it Passed Surreptitiously?
- That the People Did Not Know of It.
- Motive of the Law.
- Alternate Ruin to Debtors and Creditors.
- Demonetization Removed No Money from Use.
- The Alleged Scramble for Gold.
- Proof that there has been no Scarcity of Gold.
- How to Get Poor and Rich at the Same Time.
- Monopoly of the Money.
- A CONCURRENT CIRCULATION OF GOLD AND SILVER [1878]
- THE INFLUENCE OF COMMERCIAL CRISES ON OPINIONS ABOUT ECONOMIC DOCTRINES [1879]
- THE PHILOSOPHY OF STRIKES41
- STRIKES AND THE INDUSTRIAL ORGANIZATION42
- TRUSTS AND TRADES-UNIONS43
- AN OLD “TRUST”45
- SHALL AMERICANS OWN SHIPS?47
- POLITICS IN AMERICA, 1776–187648
- THE ADMINISTRATION OF ANDREW JACKSON49 [1880]
- THE COMMERCIAL CRISIS OF 1837 [1877–1878]
- THE SCIENCE OF SOCIOLOGY58
- INTEGRITY IN EDUCATION59
- DISCIPLINE
- THE COÖPERATIVE COMMONWEALTH Note by the Editor
- THE FORGOTTEN MAN [1883]
- BIBLIOGRAPHY BIBLIOGRAPHICAL NOTE
- FOOTNOTES
- INDEX
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