Social Control of Industry - Vol. 3

Social Control of Industry - Vol. 3

Social Control of Industry - Vol. 3

Social Control of Industry - Vol. 3

Excerpt

During the Middle Ages, and also in the succeeding period of mercantilism, economic activity was generally recognized as essentially a social process and it was expected to serve social ends, although those ends differed perhaps at different times. The medieval mind regarded economic activity as a necessary means to the maintenance of men in the status to which they were born and trained, and the amassing of wealth for its own sake or for private advantage was not glorified. The mercantilists looked upon economic activity as a means of increasing the power and prestige of the state; they were interested in the promotion of private wealth only as it would contribute to the strength of the nation as a whole.

Even the advocates of economic individualism and of the policy of laissez faire did not deny the social character of economic activity or ignore the importance of the interests of the community. But they believed that there was a substantial identity of private and . . .

Author Advanced search

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.