Capitalism; Imperialism; Saving and investment; Socialism
But Sismondi, instead of putting the screws on the vulgariser, suddenly
begins to moralise with pathos and social conscience. He exclaims:
'Whose demand? Whose satisfaction? The masters or the workers in town or
country? On this new conception [of Mac's] there is a surplus of
products, an advantage from labour--to whom will it accrue?'[186] and
gives his own answer in the following impassioned words: 'But we know
full well, and the history of the commercial world teaches us all too
thoroughly, that it is not the worker who profits from the increase in
products and labour; his pay is not in the least swelled by it. M.
Ricardo himself said formerly that it ought not to be, unless you want
the social wealth to stop growing. On the contrary, sorry experience
teaches us that wages nearly always contract by very reason of this
increase. Where, then, does the accumulation of wealth make itself felt
as a public benefit? Our author assumes 1,000 farmers who profit, while
100,000 workers toil; 1,000 entrepreneurs who wax rich, while 100,000
artisans are kept under their orders. Whatever good may result from the
accumulation of the frivolous enjoyment of luxuries is only felt by a
100th part of the nation. And will this 100th part, called upon to
consume the entire surplus product of the whole working class, be
adequate to a production that may grow without let or hindrance, owing
to progress of machinery and capitals? In the assumption made by the
author, every time the national product is doubled, the master of the
farm or of the factory must increase his consumption a hundredfold; if
the national wealth to-day, thanks to the invention of so many machines,
is a hundred times what it was when it only covered the cost of
production, every employer would to-day have to consume enough products
to support 10,000 workers.'[187]
At this point Sismondi again believes himself to have a firm grasp on
how crises begin to arise: 'We might imagine, if put to it, that a rich
man can consume the goods manufactured by 10,000 workers, this being the
fate of the ribbons, lace and cambrics whose origin the author has shown
us. But a single individual would not know how to consume agricultural
product to the same tune, the wines, sugar and spices which M. Ricardo
[whom Sismondi evidently suspected of having written the article since
he only got to know 'Anonymous' of the _Edinburgh Review_ at a later
date] conjures up in exchange, are too much for the table of one man.
They will not sell, or else the strict proportion between agricultural
and industrial products, apparently the basis of his whole system,
cannot be maintained.'[188]
Public-domain text, read in full here on John Shaqi.
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