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
Nor is this all. The capital which has been advanced, and the
interest of which is spread over the crop of successive years, is so
far from increasing the price of the produce, and forming a burden
on the consumers, that the latter acquire agricultural products
cheaper in proportion as this capital is augmented, that is to say,
in proportion as the value of the soil is increased. I have no doubt
that this assertion will be thought paradoxical and tainted with
exaggerated optimism, so much have people been accustomed to regard
the value of land as a calamity, if not a piece of injustice. For my
own part, I affirm, that it is not enough to say that the value of
the soil has been created at no one’s expense; it is not enough to
say that it injures no one; we should rather say that it benefits
everybody. It is not only legitimate, but advantageous, even to those
who possess no property.
We have here, in fact, the phenomenon of our previous illustration
reproduced. We remarked that from the moment the water-carrier
invented the barrow and the wheel, the purchaser of the water had
to pay for two kinds of labour: 1st, The labour employed in making
the barrow and the wheel, or rather the interest of the capital, and
an annual contribution to a sinking fund to replace that capital
when worn out; 2d, The direct labour which the water-carrier must
still perform. But it is equally true that these two kinds of labour
united do not equal in amount the labour which had to be undergone
before the invention. Why? because a portion of the work has now been
handed over to the gratuitous forces of nature. It is, indeed, in
consequence of this diminution of human labour that the invention has
been called forth and adopted.
All this takes place in exactly the same way in the case of land and
the production of corn. As often as an agriculturist expends capital
in permanent ameliorations, it is certain that the successive crops
are burdened with the interest of that capital. But it is [p277]
equally certain that the other species of labour—rude, unskilled,
present, direct labour—is rendered unnecessary in a still greater
proportion; so that each crop is obtained by the proprietor, and
consequently by the consumer, on easier terms, on less onerous
conditions—the proper action of capital consisting precisely in
substituting natural and gratuitous co-operation for human labour
which must be paid for.
Public-domain text, read in full here on John Shaqi.
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