Harmonies of Political Economy: Translated from the Third French Edition, with a Notice of the Life and Writings of the AuthorBastiat, Frédéric
Philosophy
Harmonies of Political Economy: Translated from the Third French Edition, with a Notice of the Life and Writings of the Author
Bastiat, Frédéric
Economics
If the two men we have supposed wished to obtain the satisfaction
of their wants, without acting in concert, each would labour to
provide for himself both the articles wanted. If they came to an
understanding, the one would provide coal for two from the coal-mine,
the other ice for two from the mountain. This presupposes a bargain.
They must then adjust the relation of the two services exchanged.
They would take all circumstances into account—the difficulties to
be overcome, the dangers to be braved, the time to be spent, the
pains to be taken, the skill to be displayed, the risks to be run,
the possibility of providing for their wants in some other way, etc.,
etc. When they came to an understanding, the Economist would say, The
two ‹services› exchanged ‹are worth› each other. In common language,
it would be said by metonymy—Such a quantity of coal ‹is worth› such
a quantity of ice, as if the value had passed physically into these
bodies. But it is easy to see that if the common form of expression
enables us to state the results, the scientific expression alone
reveals to us the true causes.
In place of two services and two persons, the agreement may embrace
a greater number, substituting a complex Exchange for simple Barter.
In that case, money would intervene to facilitate the exchange.
Need I say that the principle of value would be neither changed nor
displaced?
But I must add here a single observation ‹àpropos› of coal. It may be
that there is only one coal-mine in a country, and that an individual
has got possession of it. If so, this man will make conditions; that
is to say, he will put a high price upon his ‹services›, or pretended
‹services›.
We have not yet come to the question of right and justice, to the
distinction between true and loyal services, and those that are
fraudulent and pretended. What concerns us at this moment is, to
consolidate the true theory of value, and to disembarrass it of one
error with which Economical science is infected. When we say that
what nature has done or given, she has done or given ‹gratuitously›,
and that the notion of ‹value› is excluded, we are answered by an
analysis of the price of coal, or some other natural product. It is
acknowledged, indeed, that the greater part of this [p145] price is
the remuneration of the services of man. One man has excavated the
ground, another has drained away the water, another has raised the
fuel to the surface, another has transported it to its destination;
and it is the aggregate of these works, it is allowed, which
constitutes ‹nearly› the entire ‹value›. Still there remains one
portion of the ‹value› which does not correspond with any labour or
‹service›. This is the value of the coal as it lies under the soil,
still virgin, and untouched by human labour. It forms the share of
the proprietor; and, since this portion of Value is not of human
creation, it follows necessarily that it is the creation of nature.
Public-domain text, read in full here on John Shaqi.
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