so 



There is perhaps no part of the wide range of 

 subjects embraced by the term Political Economy, 

 that is more difficult to define than what are called 

 the functions of Government. So vexed a question 

 is this that, though all may assent to the general 

 and broad principles on which other parts of the 

 system are based, on this point hardly two persons 

 will be found to think exactly alike. There are 

 two doctrines, however, which, though each admits 

 within itself of many shades of opinion regarding 

 details, may be said to form rallying points for two 

 great schools of Economists. The disciples of the 

 one, advocate the interference of the Government in 

 the business affairs of the people, on the ground that 

 it tends to advance the material progress of a nation. 

 Those of the other approve the laisser-faire principle, 

 and consider the interference of Government a mis- 

 chief, and the greatest hindrance to a nation's 

 progress. The former principle is adopted, for the 

 most part, by the continental nations of Europe. 

 The latter finds favour, and is often stretched to the 

 extreme limit, in Great Britain. Possibly it is the 

 experience afforded by the working of the opposite 

 principle, in nations where the interference of Go- 

 vernment has not always been exerted for the good 

 of the people, that has rendered Englishmen so 

 inveterate against the doqtrines of that school, as to 

 lean to the opinion that, if Government interferes 

 with the business transactions of the people at all, 

 it must be for evil. 



