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
What we must do, on the contrary, is to put Value altogether out of
sight, particularly the consideration of money; and ask the question,
What, in such and such a country, and, at such and such an epoch, is
the amount of each kind of special utility, and the sum total of all
utilities, which correspond to a given amount of unskilled labour? In
other words, what amount of material comfort and prosperity can an
unskilled workman earn as the reward of his daily toil? [p172]
We may affirm that the natural social order is harmonious, and goes
on improving, if, on the one hand, the number of unskilled labours,
receiving the smallest possible remuneration, continues to diminish;
and if, on the other, that remuneration, measured not in value or
in money, but in real satisfactions, continues constantly on the
increase.[36]
The ancients have well described all the combinations of Exchange:—
‹Do ut des› (commodity against commodity), ‹Do ut facias› (commodity
against service), ‹Facio ut des› (service against commodity), ‹Facio
ut facias› (service against service).[37]
Seeing that products and services are thus exchanged for one another,
it is quite necessary that they should have something in common,
something by which they can be compared and estimated—namely, ‹Value›.
But value is always identically the same. Whether it be in the
product or in the service, it has always the same origin and
foundation.
This being so, we may ask, is Value originally and essentially in the
‹commodity›, and is it only by analogy that we extend the notion to
the ‹service›?
Or, on the contrary, does Value reside in the service, and is it not
mixed up and amalgamated with the product, simply and exclusively
because the service is so?
Some people seem to think that this is a question of pure subtilty.
We shall see by-and-by. At present I shall only observe, that it
would be strange if, in Political Economy, a good or a bad definition
of Value were a matter of indifference.
I cannot doubt that, at the outset, Political Economists thought they
discovered value rather in the product, as such, than in the matter
of the product. The Physiocrates [the ‹Économistes› of Quesnay’s
school] attributed value exclusively to land, and stigmatized as
‹sterile› such classes as added nothing to matter,—so strictly in
their eyes were ‹value› and ‹matter› bound up together.
Adam Smith ought to have discarded this idea, since he makes ‹value›
flow from ‹labour›. Do not pure services, services ‹per se›, exact
labour, and, consequently, do they not imply value? Near to the
truth as Smith had come, he did not make himself master of it; for,
besides pronouncing formally that labour, in order to possess value,
must be applied to matter, to something physically [p173] tangible
and capable of accumulation, we know that, like the Physiocrates,
he ranked those who simply render services among the unproductive
classes.
Public-domain text, read in full here on John Shaqi.
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