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
Sismondi’s disagreement was not upon the theoretical principles of
political economy. So far as these were concerned he declared himself a
disciple of Adam Smith.[374] He merely disagreed with the method, the
aim, and the practical conclusions of the Classical school. We will
examine his arguments on each of these points.
First of all as regards method. He draws an important distinction
between Smith and his followers, Ricardo and J. B. Say. “Smith,” says
he, “attempted to study every fact in the light of its own social
environment,” and “his immortal work is, indeed, the outcome of a
philosophic study of the history of mankind.”[375] Towards Ricardo, who
is accused of having introduced the abstract method into the science,
his attitude is quite different, and much as he admired Malthus, who,
“possessed of a singularly forceful and penetrative mind, had cultivated
the habit of a conscientious study of facts,”[376] still his spirit
shrank from admitting those abstractions which Ricardo and his disciples
demanded from him.[377] Political economy, he thought, was best treated
as a “moral science where all facts are interwoven and where a false
step is taken whenever one single fact is isolated and attention is
concentrated upon it alone.”[378] The science was to be based on
experience, upon history and observation. Human conditions were to be
studied in detail. Allowance was to be made for the period in which a man
lived, the country he inhabited, and the profession he followed, if the
individual was to be clearly visualised and the influence of economic
institutions upon him successfully traced. “I am convinced,” says he,
“that serious mistakes have ensued from the too frequent generalisations
which have been made in social science.”[379]
This criticism was levelled not only at Ricardo and McCulloch, but it
also included J. B. Say within its purview, for Say had treated political
economy as an exposition of a few general principles. It also prepared
the way for that conception of political economy upon the discovery of
which the German Historical school so prided itself at a later date.
Sismondi, himself an historian and a publicist interested in immediate
reforms, could not fail to see quite clearly the effects that social
institutions and political organisation were bound to have upon economic
prosperity. A good illustration of his method is furnished by his
treatment of the probable effects of a complete abolition of the English
Corn Laws. The question, he remarks, could not be decided by theoretical
arguments alone without taking some account of the various methods of
cultivating the soil. A country of tenant farmers such as England would
find it difficult to meet the competition of feudal countries such as
Poland or Russia, where corn only costs the proprietor “a few hundred
lashes judiciously bestowed upon the peasants.”[380]
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