Note 217-4 — Chapter I

The above truth has been exaggerated by Malthus and his school into the principle that a numerous class of "unproductive consumers," who consume more than they produce, is indispensable to a flourishing national economy. From this point of view, the magnitude of England's debt especially has been made a subject of congratulation. Compare Malthus, Principles, II, ch. 1, 9. Similarly Ortes, E. N., III, 17, to whom even the impostori mezzani and ladri seem to be a kind of necessity. (III, 23.) Chalmers, Political Economy, III ff. If it was only question of consumption here, all that would be needed would be to throw away the commodities produced in excess. Those writers forget that a consumer, to be desirable, should be able to offer counter-values.