“Economists, firstly, regard only one part of man's nature, and treat him simply as a money-making animal; secondly, they disregard the influence of custom, and only take account of competition. Certain laws are laid down under these assumptions; as, for instance, that the rate of wages always tends to an equality, the permanent difference obtaining in various employments being only sufficient to balance the favourable or unfavourable circumstances attending each of them — a law which is only true after a certain stage of civilisation and in so far as the acquisition of wealth is the sole object of men.”

—  Arnold Toynbee

Source: Lectures on The Industrial Revolution in England (1884), p. 28-29

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Economists, firstly, regard only one part of man's nature, and treat him simply as a money-making animal; secondly, the…" by Arnold Toynbee?
Arnold Toynbee photo
Arnold Toynbee 20
British economic historian 1852–1883

Related quotes

Frédéric Bastiat photo

“Between a good and a bad economist this constitutes the whole difference: the one takes account only of the visible effect; the other takes account of both the effects which are seen and those which it is necessary to foresee.”

Frédéric Bastiat (1801–1850) French classical liberal theorist, political economist, and member of the French assembly

That which is seen and that which is not seen (Ce qu'on voit et ce qu'on ne voit pas, 1850), the Introduction.
Context: In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause — it is seen. The others unfold in succession — they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference: the one takes account only of the visible effect; the other takes account of both the effects which are seen and those which it is necessary to foresee. Now this difference is enormous, for it almost always happens that when the immediate consequence is favourable, the ultimate consequences are fatal, and the converse. Hence it follows that the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come, at the risk of a small present evil.

Charles Darwin photo

“Man selects only for his own good: Nature only for that of the being which she tends.”

Charles Darwin (1809–1882) British naturalist, author of "On the origin of species, by means of natural selection"

Source: The Origin of Species

Elizabeth Cady Stanton photo

“That only a few, under any circumstances, protest against the injustice of long-established laws and customs, does not disprove the fact of the oppressions, while the satisfaction of the many, if real only proves their apathy and deeper degradation.”

Elizabeth Cady Stanton (1815–1902) Suffragist and Women's Rights activist

“It is necessary that the principles of liberty, equality and fraternity, eternal in their duration, be universal in their application, that being realized in institutions, law and customs, they spread over the surface of the globe and filter down to it's lowest strata. Only then shall the regeneration of man be accomplished.”

Francisco Luís Gomes (1829–1869) Indo-Portuguese physician, writer, historian, economist, political scientist and MP in the Portuguese parli…

Os Brâmanes (1866). Quoted by Teotonio R. de Souza in Essays in Goan history (1989), p. 137
Os Brâmanes (1866)

“I always feel that how people treat animals is not too far from how people treat each other, especially under stress or under certain circumstances…”

Yiyun Li (1972) Chinese American writer

Source: On including animal deaths in her work as symbolism in “An Interview with Yiyun Li” https://brickmag.com/an-interview-with-yiyun-li/ in Brick Magazine (2019 Feb 19)

“The underlying principle of Balance in Nature’s One Law is equality of interchange between the pairs of opposites in any transaction in Nature. That principle must eventually be observed by big business, and the go-getter salesman who selfishly thinks that the sale he makes is the only thing that counts is not giving equally for what he takes.”

Walter Russell (1871–1963) American philosopher

The Man who Tapped the Secrets of the Universe

Vātsyāyana photo

“The work being written in parts by different authors was almost unobtainable and, as the parts which were expounded by Dattaka and the others treated only of the particular branches of the subject to which each part related, and moreover as the original work of Babhravya was difficult to be mastered on account of its length, Vatsyayana, therefore, composed his work in a small volume as an abstract of the whole of the works of the above various authors.”

Vātsyāyana Indian logician

Source: Kama Sutra , translated by Richard Francis Burton Preface https://en.wikisource.org/wiki/Kama_Sutra/Introductory/Preface, Wikisource

Aristotle photo

“The only stable state is the one in which all men are equal before the law.”

Aristotle (-384–-321 BC) Classical Greek philosopher, student of Plato and founder of Western philosophy
James Mill photo

“Of the laws of nature on which the condition of man depends, that which is attended with the greatest number of consequences is the necessity of labor for obtaining the means of subsistence, as well as the means of the greatest part of our pleasures.”

James Mill (1773–1836) Scottish historian, economist, political theorist and philosopher

Government (1820)
Context: Of the laws of nature on which the condition of man depends, that which is attended with the greatest number of consequences is the necessity of labor for obtaining the means of subsistence, as well as the means of the greatest part of our pleasures. This is no doubt the primary cause of government; for if nature had produced spontaneously all the objects which we desire, and in sufficient abundance for the desires of all, there would have been no source of dispute or of injury among men, nor would any man have possessed the means of ever acquiring authority over another.
The results are exceedingly different when nature produces the objects of desire not in sufficient abundance for all. The source of dispute is then exhaustless, and every man has the means of acquiring authority over others in proportion to the quantity of those objects which he is able to possess. In this case the end to be obtained through government as the means, is to make that distribution of the scanty materials of happiness which would insure the greatest sum of it in the members of the community taken altogether, preventing every individual or combination of individuals from interfering with that distribution or making any man to have less than his share.

“If the custom be general, it is the law of the realm: if local only, it is lex loci, the law of the place. Now, all laws are general, as far as the law extends; and all customs of England are of course, immemorial.1 No usage, therefore, can be part of that law, or have the force of a custom, that is not immemorial.”

Joseph Yates (judge) (1722–1770) English barrister and judge

4 Burr. Part IV., 2368.
Dissenting in Millar v Taylor (1769)

Related topics