Note 29 — Chapter VII · ON THE DEFINITION AND APPLICATION OF TERMS, BY MR. MACCULLOCH, IN HIS “PRINCIPLES OF POLITICAL ECONOMY.”
Reading edition
These remarks were principally directed against Lord Lauderdale’s definition of wealth—all that man desires as useful and delightful to him; but they apply with nearly equal force to Mr. Macculloch’s present definition, which is limited to those objects which possess exchangeable value. According to Mr. Macculloch’s own statement, health is purchased from the physician, and the gratification derived from acting from the actor; and it must be allowed that it is impossible to enjoy the benefits of civil and religious liberty without paying those who administer a good government. It has been said by Mr. Hallam, with some truth, that the liberties of England were chiefly obtained by successive purchases from the crown.