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
But they have not thus understood it. What they believe is that Value
has been communicated to matter, either by the labour of man or by
the action of nature. In a word, deceived by the elliptical form
of expression, gold ‹is worth› so much, corn ‹is worth› so much,
they think they see in matter a quality called ‹Value›, just as the
natural philosopher sees in it resistance and weight—and yet these
attributes have been disputed.
Be that as it may, I dispute formally the existence of Value as an
attribute of matter. [p153]
And first of all, it cannot be denied that Matter and Value are
often found separated. When we say to a man—Carry that letter to
its destination—fetch me some water—teach me this science or that
manufacturing process—give me advice as to my sickness, or my
law-suit—watch over my security, while I give myself up to labour
or to sleep,—what we demand is a Service, and in that service we
acknowledge in the face of the world that there resides a ‹Value›,
seeing that we pay for it voluntarily by an ‹equivalent› service.
It would be strange that we should refuse to admit in theory what
universal consent admits in practice.
True, our transactions have reference frequently to material objects;
but what does that prove? Why, that men, by exercising foresight,
prepare to render services which they know to be in demand. I
purchase a coat ready made, or I have a tailor to come to my house to
work by the day; but does that change the principle of Value, so as
to make it reside at one time in the coat and at another time in the
service?
One might ask here this puzzling question—Must we not see the
principle of Value first of all in the material object, and then
attribute it by analogy to the services? I say that it is just the
reverse. We must recognise it first of all in the services, and
attribute it afterwards, if we choose, by a figure of speech, by
metonymy, to the material objects.
The numerous examples which I have adduced render it unnecessary
for me to pursue this discussion further. But I cannot refrain from
justifying myself for having entered on it, by showing to what fatal
consequences an error, or, if you will, an incomplete truth, may
lead, when placed at the threshold of a science.
The least inconvenience of the definition which I am combating has
been to curtail and mutilate Political Economy. If Value resides
in matter, then where there is no matter there can be no Value.
The ‹Physiocrates›[31] designated three-fourths of the entire
population as ‹sterile›, and Adam Smith, softening the expression, as
‹unproductive› classes.
Public-domain text, read in full here on John Shaqi.
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