Meaning: Walter Bagehot, an English journalist, economist, and essayist, made this provocative statement in his book "Physics and Politics" published in 1872. The quote, "No real English gentleman, in his secret soul, was ever sorry for the death of a political economist," reflects Bagehot's critical view of the field of political economy and the attitudes of English gentlemen towards it during his time.

Bagehot's statement can be interpreted in various ways, but at its core, it seems to convey a sense of disdain and skepticism towards political economists, as well as a perception of indifference or even satisfaction regarding their demise. To fully understand the context and implications of this quote, it is essential to delve into the historical and intellectual milieu of the 19th century in England.

During Bagehot's lifetime, the field of political economy was undergoing significant changes and challenges. The Industrial Revolution had brought about momentous shifts in economic and social structures, leading to the emergence of new economic theories and debates. Political economy, as a discipline, was at the center of these discussions, grappling with issues such as industrialization, labor conditions, trade policies, and the role of the state in regulating economic activities.

Bagehot's remark can be seen as a critique of the prevailing attitudes towards political economists within the elite circles of English society. The term "real English gentleman" invokes notions of privilege, social status, and traditional values, suggesting that the disdain towards political economists was deeply ingrained in the upper echelons of English culture. Bagehot's use of the phrase "in his secret soul" implies a hidden or unspoken sentiment, hinting at a disconnect between public decorum and private sentiments regarding the practitioners of political economy.

Furthermore, Bagehot's statement hints at the perceived insignificance or even detriment associated with political economists in the eyes of English gentlemen. The notion that no gentleman would mourn the death of a political economist suggests a lack of regard for their contributions or even a belief that their absence would be beneficial. This sentiment could stem from the perception that political economists were out of touch with the realities of English society or that their theories and analyses were detached from the lived experiences of the population.

In understanding Bagehot's quote, it is crucial to acknowledge the broader intellectual and social context of the time. The mid-19th century was marked by intense debates and transformations in economic and political thought, with figures such as Karl Marx, John Stuart Mill, and David Ricardo shaping the discourse on political economy. Bagehot's own views on economics and governance were influenced by these currents, and his critique of political economists can be seen as a reflection of the complexities and tensions within the field during that era.

It is worth noting that Bagehot's statement should be approached critically, taking into account the nuances of his perspective and the historical context in which it was articulated. While the quote may appear dismissive or even callous towards political economists, it also serves as a lens through which to examine the attitudes and power dynamics prevalent in Victorian England. Bagehot's incisive wit and willingness to challenge established norms make his quote a thought-provoking entry point into the intellectual landscape of his time.

In conclusion, Walter Bagehot's quote, "No real English gentleman, in his secret soul, was ever sorry for the death of a political economist," encapsulates his critical stance towards the field of political economy and the attitudes of English gentlemen in the 19th century. By situating the quote within its historical and intellectual context, we gain insight into the complexities of economic thought and social dynamics during that era. Bagehot's provocative assertion continues to invite analysis and debate, serving as a testament to the enduring relevance of his ideas in the study of economics and society.