And yet these truths which, when presented to us in an abstract shape, we regard as so incontrovertible that we can scarce summon patience to listen to them, are considered only as ridiculous errors and absurd theories the moment they are applied to man in his social state. Regarding man as an isolated being, who ever took it into his head to say, “Production is superabundant—the power of consumption cannot keep pace with the power of production—luxury and factitious tastes are the source of wealth—the invention of machinery annihilates labour,” and other apophthegms of the same sort,—which, nevertheless, when applied to mankind in the aggregate, we receive as axioms so well established that they are actually made the basis of our commercial and industrial legislation? ‹Exchange› produces in this respect an illusion of which [p084] even men of penetration and solid judgment find it impossible to disabuse themselves, and I affirm that Political Economy will have attained its design, and fulfilled its mission, when it shall have conclusively demonstrated this:—that what is true of an individual man is true of society at large. Man in an isolated state is at once producer and consumer, inventor and projector, capitalist and workman. All the economic phenomena are accomplished in his person—he is, as it were, society in miniature. In like manner, humanity, viewed in the aggregate, may be regarded as a great, collective, complex individual, to whom you may apply exactly the same truths as to man in a state of isolation. I have felt it necessary to make this remark, which I hope will be justified in the sequel, before continuing what I had to say upon man. I should have been afraid, otherwise, that the reader might reject, as superfluous, the following developments, which in fact are nothing else than veritable ‹truisms›.