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
This being so, the paramount interest of all (in an economical point
of view, and rightly understood) is to favour the rapid creation of
capital. But capital, if I may say so, increases of its own accord
under the triple influence of activity, frugality, and security.
We can scarcely exercise any direct influence on the activity and
frugality of our neighbours, except through the medium of public
opinion, by an intelligent communication of our antipathies and our
sympathies. But as regards security we can do much, for, [p211]
without security, capital, far from being formed and accumulated,
conceals itself, takes flight, and perishes; and this shows us how
suicidal that popular ardour is which displays itself in disturbing
the public tranquillity. Let the working-classes be well assured that
the mission of Capital from the beginning has been to set men free
from the yoke of ignorance, of want, and of despotism; and that to
frighten away Capital is to rivet a triple chain on the energies of
the human race.
The ‹vires acquirit eundo› may be applied with rigorous exactitude
to capital, and its beneficent influence. Capital, when formed,
necessarily leaves disposable both labour and the remuneration of
that labour. It carries in itself, then, a power of progression.
There is in it something which resembles the law of velocities. This
progression economical science has omitted hitherto to oppose to the
other progression which Malthus has remarked. It is a Harmony which
we cannot explain in this place, but must reserve for the chapter on
Population.
But I must here put the reader on his guard against a specious
objection. If the mission of capital, it may be said, is to cause
nature to execute work which has been hitherto executed by human
labour, whatever good it may confer upon mankind, it must do injury
to the working-classes, especially to those classes who live by
wages; for everything which throws hands out of employment, and
renders them disposable, renders competition more intense; and
this, undoubtedly, is the secret reason of the antipathy of the
working-classes to men of capital. If this objection were well
founded, we should have a discordant note in the social harmony.
The illusion arises from losing sight of this, that ‹capital,
in proportion as its action is extended, sets free and renders
disposable a certain amount of human efforts, only by setting free
and rendering disposable a corresponding fund of remuneration›, so
that these two elements meet and compensate one another. The labour
is not paralyzed. Replaced in a special department of industry by
gratuitous forces, it sets to work upon other obstacles in the
general march of progress, and with more certainty, inasmuch as it
finds its recompense prepared beforehand.
Public-domain text, read in full here on John Shaqi.
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