System of Economical Contradictions; Or, The Philosophy of MiseryProudhon, P.-J. (Pierre-Joseph)
Philosophy
System of Economical Contradictions; Or, The Philosophy of Misery
Proudhon, P.-J. (Pierre-Joseph)
Economics
But this idea of value was wholly intuitive with Adam Smith, and
society does not change its habits upon the strength of
intuitions; it decides only upon the authority of facts. The
antinomy had to be expressed in a plainer and clearer manner: J.
B. Say was its principal interpreter. But, in spite of the
imaginative efforts and fearful subtlety of this economist,
Smith's definition controls him without his knowledge, and is
manifest throughout his arguments.
"To put a value on an article," says Say, "is to DECLARE that it
should be ESTIMATED equally with some other designated article.
. . . . . The value of everything is vague and arbitrary UNTIL
IT IS RECOGNIZED. . . . . ." There is, therefore, a method of
recognizing the value of things,--that is, of determining it;
and, as this recognition or determination results from the
comparison of things with each other, there is, further, a common
feature, a principle, by means of which we are able to DECLARE
that one thing is worth more or less than, or as much as,
another.
Say first said: "The measure of value is the value of another
product." Afterwards, having seen that this phrase was but a
tautology, he modified it thus: "The measure of value is the
QUANTITY of another product," which is quite as unintelligible.
Moreover, this writer, generally so clear and decided,
embarrasses himself with vain distinctions: "We may APPRECIATE
the value of things; we cannot MEASURE it,--that is, COMPARE it
with an invariable and known standard, for no such standard
exists. We can do nothing but ESTIMATE THE VALUE of things by
comparing them." At other times he distinguishes between REAL
values and RELATIVE values: "The former are those whose value
changes with the cost of production; the latter are those whose
value changes relatively to the value of other kinds of
merchandise."
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