Capitalism; Imperialism; Saving and investment; Socialism
When pressed for a closer definition of the social organisation towards
which he aspires, it is true he hedges and confesses himself unable to
do so:
'But what remains to be done is of infinite difficulty, and I certainly
do not intend to deal with it to-day. I should like to convince the
economists as completely as I am convinced myself that their science is
going off on a wrong tack. But I cannot trust myself to be able to show
them the true course; it is a supreme effort--the most my mind will run
to--to form a conception even of the actual organisation of society. Yet
who would have the power to conceive of an organisation that does not
even exist so far, to see the future, since we are already hard put to
it to see the present?'[220]
Surely it was no disgrace to admit oneself frankly powerless to envisage
a future beyond capitalism in the year 1820--at a time when capitalism
had only just begun to establish its domination over the big industries,
and when the idea of socialism was only possible in a most Utopian form.
But, as Sismondi could neither advance beyond capitalism nor go back to
a previous stage, the only course open to his criticism was a
petty-bourgeois compromise. Sceptical of the possibility of developing
fully both capitalism and the productive forces, he found himself under
necessity to clamour for some moderation of accumulation, for some
slowing down of the triumphant march of capitalism. That is the
reactionary aspect of his criticism.[221]
FOOTNOTES:
[210] 'L'argent ne remplit qu'un office passager dans ce double échange.
Les échanges terminés, il se trouve qu'on a payé des produits avec des
produits. En conséquence, quand une nation a trop de produits dans un
genre, le moyen de les écouler est d'en créer d'un autre genre' (J. B.
Say, _Traité d'Économie Politique_, Paris, 1803, vol. i, p. 154).
Public-domain text, read in full here on John Shaqi.
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