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
I must have but feebly explained the theory of ‹value› if the reader
imagines that value diminishes immediately and of its own accord,
by the simple fact of the co-operation of natural forces, and the
relief thereby afforded to human labour. It is not so; for then we
might say with the English Economists that value is proportional
to labour. The man who is aided by a natural and gratuitous force
renders his services more easily; but he does not [p292] on that
account renounce voluntarily any portion whatever of his accustomed
remuneration. To induce him to do that, external coercion—pressure
from without—severe but not unjust pressure—is necessary. It is
Competition which exerts this pressure. As long as Competition does
not intervene, as long as the man who has availed himself of a
natural agent preserves his secret, that natural agent is gratuitous,
but it is not yet ‹common›. The victory has been gained, but to the
profit only of a single man, or a single class. It is not yet a
benefit to mankind at large. No change has yet taken place, except
that one description of ‹services›, although partly relieved from the
pain of muscular exertion, still exacts all its former remuneration.
We have, on the one hand, a man who exacts from all his fellows the
same amount of labour as formerly, although he offers them a limited
amount of his own labour in return. On the other, we have mankind at
large, who are still obliged to make the same sacrifice of time and
of labour in order to obtain a product now realized in part by nature.
Were things to remain in this state, a principle of indefinite
inequality would be introduced into the world with every new
invention. Not only could we not say that value is proportional to
labour; we could not even say that value tends to become proportional
to labour. All that we have said in the preceding chapters about
‹gratuitous utility› and ‹progressive community› would be chimerical.
It would not be true that services are exchanged against services,
in such a way that the gifts of God are transferred gratuitously
from one man to another, down to the ultimate recipient, who is the
consumer. Each would continue to be paid, not only for his labour,
but for the natural forces which he had once succeeded in setting
to work; in a word, society would be constituted on the principle
of universal Monopoly, in place of on the principle of progressive
Community.
Public-domain text, read in full here on John Shaqi.
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