His lucubrations are
negligible for the present survey.
[Footnote 11: [N.A. Ware] _Notes on Political Economy as applicable to the
United States_. By a Southern Planter (New York, 1844), pp. 200-204.]
All these American writers except Goodloe accomplished little of
substantial quality in the field of economic thought beyond adding details
to the doctrines of Adam Smith and Say. John Stuart Mill in turn did little
more than combine the philosophies of his predecessors. "It is a truism
to assert," said he, "that labour extorted by fear of punishment is
insufficient and unproductive"; yet some people can be driven by the
lash to accomplish what no feasible payment would have induced them to
undertake. In sparsely settled regions, furthermore, slavery may afford
the otherwise unobtainable advantages of labour combination, and it has
undoubtedly hastened industrial development in some American areas. Yet,
since all processes carried on by slave labour are conducted in the rudest
manner, virtually any employer may pay a considerably greater value in
wages to free labour than the maintenance of his slaves has cost him and be
a gainer by the change.[12]
[Footnote 12: John Stuart Mill, _Principles of Political Economy_ (London,
1848, and later editions), book II, chap.
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