Capitalism; Imperialism; Saving and investment; Socialism
In _The Poverty of Philosophy_, Marx opposes Sismondi to Proudhon in
sundry passages, yet about the man himself he only remarks tersely:
'Those, who, like Sismondi, wish to return to the true proportions of
production, while preserving the present basis of society, are
reactionary, since, to be consistent, they must also wish to bring back
all the other conditions of industry of former times' (_The Poverty of
Philosophy_, London, 1936, p. 57). Two short references to Sismondi are
in _On the Critique of Political Economy_: once he is ranked, as the
last classic of bourgeois economics in France, with Ricard in England;
in another passage emphasis is laid on the fact that Sismondi, contrary
to Ricardo, underlined the specifically social character of labour that
creates value.--In the _Communist Manifesto_, finally, Sismondi is
mentioned as the head of the petty-bourgeois school.
_CHAPTER XIV_
MALTHUS
At the same time as Sismondi, Malthus also waged war against some of the
teachings of Ricardo. Sismondi, in the second edition of his work as
well as in his polemics, repeatedly referred to Malthus as an authority
on his side. Thus he formulated the common aims of his campaign against
Ricardo in the _Revue Encyclopédique_:
'Mr. Malthus, on the other hand, has maintained in England, as I have
tried to do on the Continent, that consumption is not the necessary
consequence of production, that the needs and desires of man, though
they are truly without limits, are only satisfied by consumption in so
far as means of exchange go with them. We have affirmed that it is not
enough to create these means of exchange, to make them circulate among
those who have these desires and wants; that it can even happen
frequently that the means of exchange increase in society together with
a decrease in the demand for labour, or wages, so that the desires and
wants of one part of the population cannot be satisfied and consumption
also decreases. Finally, we have claimed that the unmistakable sign of
prosperity in a society is not an increasing production of wealth, but
an increasing demand for labour, or the offer of more and more wages in
compensation for this labour. Messrs. Ricardo and Say, though not
denying that an increasing demand for labour is a symptom of prosperity,
maintained that it inevitably results from an increase of production. As
for Mr. Malthus and myself, we regard these two increases as resulting
from independent causes which may at times even be in opposition.
According to our view, if the demand for labour has not preceded and
determined production, the market will be flooded, and then new
production becomes a cause of ruin, not of enjoyment.'[222]
Public-domain text, read in full here on John Shaqi.
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