ABSTRACT
Political Economy is 'an inquiry into the nature and causes of the wealth of nations'.—Adam Smith. Politics is the science and art which deals with the well governing of States and the conduct of human beings as members of an organized community. Political Economy, while recognizing and emphasizing this basic fact, does not preach the love of money or even of wealth. The father of English Economics, Adam Smith, admitted in a famous and oft-quoted passage that 'defence is much more important than opulence'. Plainly, he was right. National security is preferable to national wealth: but a patriot will strive to attain both objects. Economics deals not with the things of the spirit, but with the things of the flesh. 'The fruit of the Spirit is love, joy, peace, longsuffering, gentleness, goodness, faith, meekness, temperance: against such there is no law'—economic or legislative.
