Capitalism; Imperialism; Saving and investment; Socialism
[211] In fact, here again, Say's only achievement lies in having given a
pompous and dogmatic form to an idea that others had expressed before
him. As Bergmann points out, in his _Theory of Crises_ (Stuttgart,
1895), the work of Josiah Tucker (1752), Turgot's annotations to the
French pamphlets, the writings of Quesnay, Dupont de Nemours, and of
others contain quite similar observations on a natural balance, or even
identity, between demand and supply. Yet the miserable Say, as Marx once
called him, claims credit as the evangelist of harmony for the great
discovery of the '_théorie des débouchés_', modestly comparing his own
work to the discovery of the principles of thermo-dynamics, of the
lever, and of the inclined plane. In the preface and table of contents,
e.g. to the 6th edition of his _Traité_ (1841, pp. 51, 616) he says:
'The theory of exchange and of vents, such as it is developed in this
work, will transform world politics.' The same point of view is also
expounded by James Mill in his 'Commerce Defended' of 1808, and it is he
whom Marx calls the real father of the doctrine of a natural equilibrium
between production and demand.
[212] Say in _Revue Encyclopédique_, vol. 23, July 1824, pp. 20 f.
[213] _Nouveaux Principes_ ..., vol. i, p. 117.
[214] Say, loc. cit., p. 21.
[215] Say, loc. cit., p. 29. Say indicts Sismondi as the arch-enemy of
bourgeois society in the following ranting peroration: 'It is against
the modern organisation of society, an organisation which, by despoiling
the working man of all property save his hands, gives him no security in
the face of a competition directed towards his detriment. What! Society
despoils the working man because it ensures to every kind of
entrepreneur free disposition over his capital, that is to say his
property! I repeat: there is nothing more dangerous than views conducive
to a regulation of the employment of property' for 'hands and faculties
... are also property' (ibid., p. 30).
[216] Sismondi, op. cit., pp. 462-3.
[217] Ibid., p. 331.
[218] Sismondi, op. cit., p. 432-3.
[219] Ibid., p. 449.
[220] Ibid., p. 448.
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