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
From beginning to end of his work, however, M. de Sismondi seems to
have a lurking consciousness that he is mistaken, and that a dark
veil may have interposed itself between his mind and the truth. He
does not venture, like M. de Saint-Chamans, to announce roughly
and bluntly the consequences of his principle—he hesitates, and is
troubled. He asks himself sometimes if it is possible that all men
from the beginning of the world have been in error, and on the road
to self-destruction, in seeking to diminish the proportion which
Effort bears to Satisfaction,—that is to say, ‹value›. At once the
friend and the enemy of liberty, he fears it, since the abundance
which depreciates value leads to universal poverty, and yet he knows
not how to set about the destruction of this fatal liberty. He thus
arrives at the confines of socialism and artificial organization, and
insinuates that government and science should regulate and control
everything. Then he sees the danger of the advice he is giving,
retracts it, and ends by falling into despair, exclaiming—“Liberty
leads to the abyss of poverty—Constraint is as impossible as it is
useless—there is no escape.” In truth and reality, there is none, if
Value be Riches; in other words, if the obstacle to prosperity be
prosperity itself,—that is to say, if Evil be Good.
The latest writer, as far as I know, who has stirred this question
[p188] is M. Proudhon. It made the fortune of his book, ‹Des
Contradictions Économiques›. Never was there a finer opportunity
of seizing a paradox by the forelock, and snapping his fingers
at science. Never was there a fairer occasion of asking—“Do you
see in the increase of value a good or an evil? ‹Quidquid dixeris
argumentabor.›” Just think what a treat![48]
“I call upon any earnest Economist to explain to me, otherwise
than by varying and repeating the question, why value diminishes
in proportion as production increases, and ‹vice versa›. . . . In
technical phrase, value in use and value in exchange, although
necessary to each other, are in an inverse ratio to each
other. . . . . Value in use and value in exchange remain, then,
fatally enchained, although in their own nature they tend to exclude
each other.”
“For this contradiction, which is inherent in the notion of value,
no cause can be assigned, nor is any explanation of it possible. . .
From the data, that man has need of a great variety of commodities,
and that he must provide them by his labour, the necessary conclusion
is, that there exists an antagonism between value in use and value
in exchange, and from this antagonism a contradiction arises at the
very threshold of Political Economy. No amount of intelligence, no
agency, divine or human, can make it otherwise. In place, then, of
beating about for a useless explanation, let us content ourselves
with pointing out clearly the ‹necessity of the contradiction›.”
Public-domain text, read in full here on John Shaqi.
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