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
Recurring to our former illustration, it is easy to see that the
price of stockings (like that of books, and all things else) is
lowered by the action of capital, only by leaving in the hands of
the purchaser a part of the former price. This is too clear for
illustration. The workman who now pays two francs for what he paid
six francs for formerly, has four francs left at his disposal. Now,
it is exactly [p212] in that proportion that human labour has been
replaced by natural forces. These forces, then, are a pure and simple
acquisition, which alters in no respect the relation of labour to
available remuneration. It will be remembered that the answer to this
objection was given formerly,[53] when, observing upon man in a state
of isolation, or reduced once more to the primitive law of barter,
I put the reader on his guard against the illusion which it is my
object here to dispel.
We may leave capital, then, to take care of itself, to be created
and accumulated according to its own proper tendencies, and the
wants and desires of men. Do not imagine that, when the common
labourer economizes for his old days, when the father of a family
sets his son up in business, or provides a dower for his daughter,
they are exercising to the detriment of the public that noble
attribute of man, Foresight; but it would be so, and private virtues
would be in direct antagonism with the general good, were there an
incompatibility between Capital and Labour.
Far from mankind being subjected to this contradiction, or, I might
rather say, this impossibility (for how can we conceive progressive
evil in the aggregate to result from progressive good in individual
cases?) we must acknowledge that Providence, in justice and mercy,
has assigned a nobler part to Labour than to Capital in the work of
progress, and has afforded a stimulant more efficacious, a recompense
more liberal, to the man who lives by the sweat of his brow, than to
the man who subsists upon the exertions of his forefathers.
In fact, having established that every increase of capital is
followed by a necessary increase of general prosperity, I venture to
lay down the following principle with reference to the distribution
of wealth,—a principle which I believe will be found unassailable:—
“‹In proportion to the increase of Capital, the› absolute ‹share of
the total product falling to the capitalist is augmented, and his›
relative ‹share is diminished; while, on the contrary, the labourer’s
share is increased both absolutely and relatively.›”
I shall explain this more clearly by figures:—
Suppose the total products of society, at successive epochs, to be
represented by the figures 1000, 2000, 3000, 4000, etc.
Public-domain text, read in full here on John Shaqi.
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