A history of economic doctrines : $b from the time of the physiocrats to the present dayGide, Charles
History
A history of economic doctrines : $b from the time of the physiocrats to the present day
Gide, Charles
Economics -- History
Among such writers no one has upheld the testimony of these facts more
strongly than Sismondi.[370] All his interest in political economy, so
far as theory was concerned, was summed up in the explanation of crises,
so far as practice, in the amelioration of the condition of the workers.
No one has sought the explanation or striven for the remedy with greater
sincerity. He is thus the chief of a line of economists whose works never
ceased to exercise influence throughout the whole of the nineteenth
century, and who, without being socialists on the one hand or totally
blind to the vices of _laissez-faire_ on the other, sought that happy
mean which permits of the correction of the abuses of liberty while
retaining the principle. The first to give sentiment a prominent place in
his theory, his work aroused considerable enthusiasm at the time, but was
subjected to much criticism at a later period.
I: THE AIM AND METHOD OF POLITICAL ECONOMY
Sismondi began his career as an ardent supporter of economic Liberalism.
In 1803, the year that witnessed the production of Say’s treatise, he
published an exposition of the ideas of Adam Smith in a book entitled
_La Richesse commerciale_, a volume which achieved a certain measure
of success. During the following years he devoted himself to work
exclusively historical, literary, or political, and he only returned to
the study of political economy in 1818. “At this period,” he writes,
“I was keenly interested in the commercial crises which Europe had
experienced during the past years, and in the cruel sufferings of the
factory hands, which I myself had witnessed in Italy, Switzerland, and
France; and which, according to public reports, were at least equally
bad in England, Belgium, and Germany.”[371] It was at this moment that
he was asked to write an article on political economy for the _Edinburgh
Encyclopædia_. Upon a re-examination of his ideas in the light of
these new facts he found to his surprise that his conclusions differed
entirely from those of Adam Smith. In 1819 he travelled in England, “that
wonderful country, which seems to have undergone a great experience in
order to teach the rest of the world.”[372] This seemed to confirm his
first impressions. He took the article which he had contributed to the
_Encyclopædia_ and developed it. From this work sprang the treatise which
appeared in 1819 under the significant title of _Nouveaux Principes
d’Économie politique_ and made him celebrated as an economist. His path
was already clear. His want of agreement with the predominant school
in France and England was further emphasised by the appearance of his
studies in economics,[373] in which he illustrates and confirms the ideas
already expounded in the _Nouveaux Principes_ by means of a great number
of descriptive and historical studies bearing more especially upon the
condition of the agriculturists in England, Scotland, Ireland, and Italy.
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