Capitalism; Imperialism; Saving and investment; Socialism
'But this tendency, in the natural course of things, to cure a glut or a
scarcity, is no ... proof that such evils have never existed.'[229]
It is clear that in spite of his contrary views on the question of
crises, Malthus thinks along the same lines as Ricardo, Mill, Say, and
MacCulloch. For him, too, everything can be reduced to barter. The
social reproductive process with its large categories and interrelations
which claimed the whole of Sismondi's attention, is here completely
ignored.
In view of so many contradictions within the fundamental approach, the
criticism of Sismondi and Malthus have only a few points in common:
(1) Contrary to Say and the followers of Ricardo, they both deny the
hypothesis of a pre-established balance of consumption and production.
(2) They both maintain that not only partial but also universal crises
are possible.
But here their agreement ends. If Sismondi seeks the cause of crises in
the low level of wages and the capitalists' limited capacity for
consumption, Malthus, on the other hand, transforms the fact of low
wages into a natural law of population movements; for the capitalists'
limited capacity for consumption, however, he finds a substitute in the
consumption of the parasites on surplus value such as the landed gentry
and the clergy with their unlimited capacity for wealth and luxury. 'The
church with a capacious maw is blest.'
Both Malthus and Sismondi look for a category of consumers who buy
without selling, in order to redeem capitalist accumulation and save it
from a precarious position. But Sismondi needs them to get rid of the
surplus product of society over and above the consumption of the workers
and capitalists, that is to say, to get rid of the capitalised part of
the surplus value. Malthus wants them as 'producers' of profit in
general. It remains entirely his secret, of course, how the _rentiers_
and the incumbents of the state can assist the capitalists in
appropriating their profits by buying commodities at an increased price,
since they themselves obtain their purchasing power mainly from these
capitalists. In view of these profound contrasts, the alliance between
Malthus and Sismondi does not go very deep. And if Malthus, as Marx has
it, distorts Sismondi's _Nouveaux Principes_ into a Malthusian
caricature, Sismondi in turn stresses only what is common to them both
and quotes Malthus in support, giving the latter's critique of Ricardo a
somewhat Sismondian cast. On occasion, no doubt, Sismondi actually
succumbs to the influence of Malthus; for instance, he takes over the
latter's theory of reckless state expenditure as an emergency measure in
aid of accumulation and so becomes involved in contradictions with his
own initial assumptions.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account