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
As to the sterile class, it produces nothing, and so, unlike the
preceding class, it can only get its necessaries second-hand from the
productive class. These may be got in two ways: a milliard from the
agricultural class in payment for manufactured goods and another milliard
from the landed proprietors. The latter milliard being one of the two
which the landed proprietors got from the agriculturists, has in this way
described the complete circle.
The 2 milliards obtained as salaries by the sterile class are employed
in buying the necessaries of life and the raw material of industry.
And since it is only the productive class that can procure these
necessaries and raw materials, this 2 milliards passes into the
hands of the agriculturists. The 2 milliards, in short, return to
their starting-point. Adding the milliard already paid by the landed
proprietors to the 2 milliards’ worth of products unsold, the total of 5
milliards is replaced in the hands of the productive class, and so the
process goes on indefinitely.[43]
This _résumé_ gives but a very imperfect idea of the vast complexities
and difficulties involved in tracing the growth of revenues—an evolution
which the Physiocrats followed with the enthusiasm of children. They
imagined that it was all very real.[44] The rediscovery of their
millions intoxicated them, but, like many of the mathematical economists
of to-day, they forgot that at the end of their calculations they only
had what they had assumed at the beginning. It is very evident that the
table proves nothing as to the essential point in their system, namely,
whether there really exist a productive and a sterile class.[45]
The most interesting thing in the Physiocratic scheme of distribution is
not the particular demonstration which they gave of it, but the emphasis
which they laid upon the fact of the circulation of wealth taking place
in accordance with certain laws, and the way in which the revenue of each
class was determined by this circulation.
The singular position which the proprietors hold in this tripartite
division of society is one of the most curious features of the system.
Public-domain text, read in full here on John Shaqi.
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