s, or the art of government, of which the
art of legislation is a part. [10]

It is to _this_ important division of the field of science that one of
the writers who have most correctly conceived and copiously illustrated
its nature and limits,--we mean M. Say,--has chosen to give the name
Political Economy. And, indeed, this large extension of the
signification of that term is countenanced by its etymology. But the
words "political economy" have long ceased to have so large a meaning.
Every writer is entitled to use the words which are his tools in the
manner which he judges most conducive to the general purposes of the
exposition of truth; but he exercises this discretion under liability to
criticism: and M. Say seems to have done in this instance, what should
never be done without strong reasons; to have altered the meaning of a
name which was appropriated to a particular purpose (and for which,
therefore, a substitute must be provided), in order to transfer it to an
object for which it was easy to find a more characteristic denomination.

What is now commonly understood by the term "Political Economy" is not
the science of speculative politics, but a branch of that science. It
does not treat of the whole of man's nature as modified by the social
state, nor of the whole conduct of man in society. It is concerned with
him solely as a being who desires to possess wealth, and who is capable
of judging of the comparative efficacy of means for obtaining that end.
It predicts only such of the phenomena of the social state as take place
in consequence of the pursuit of wealth. It makes entire abstraction of
every other human passion or motive; except those which may be regarded
as perpetually antagonizing principles to the desire of wealth, namely,
aversion to labour, and desire of the present enjoyment of costly
indulgences. These it takes, to a certain extent, into its calculations,
because these do not merely, like other desires, occasionally conflict
with the pursuit of wealth, but accompany it always as a drag, or
impediment, and are therefore inseparably mixed up in the consideration
of it. Political Economy considers mankind as occupied solely in
acquiring and consuming wealth; and aims at showing what is the course
of action into which mankind, living in a state of society, would be
impelled, if that motive, except in the degree in which it is checked by
the two perpetual counter-motives above adverted to, were absol