INDEX.
- A.
- Accumulation, a circumstance of no account in Political Economy, page 169, note.
- Air, Atmospheric, has utility without having value, 137;
- but if pumped into a diving-bell, the service has value, 138.
- Algeria, usual rate of interest in, said to be 10 per cent., 302.
- Aphorisms, the Two, “Each for all, all for each”—“Each for himself, each by himself,” 339-346.
- Opposed to each other if we regard the motive, not so if we look to results, 339.
- No incompatibility in this last view between individualism and association, 340.
- Men associate in obedience to self-interest, ib.
- Difficulties attending a state of isolation lead naturally to association, 341.
- As regards labour and exchanges, the principle “Each for himself” must be predominant, 342.
- By following the rule each for himself, individual efforts act in the direction of each for all, 343.
- Icarian expedition proceeded on the principle of all for each, 344, note.
- Principles of Socialism and Communism refuted, 343, 344.
- All desire monopolies and privileges, even the working classes, at their own expense, 345, 346.
- B.
- Barter, primitive form of exchange, direct or roundabout, 108.
- Bastiat, Frédéric, his birth, parentage, and education, p. 9.
- His early friendship with M. Calmètes, ib.
- Begins the study of Political Economy, 10.
- Gives up commerce as a profession, ib.
- His friendship with M. Coudroy, ib.
- They study Philosophy and Political Economy together, ib.
- Takes part in the Revolution of 1830, 11.
- Bastiat publishes his first brochure in 1834, ib.
- Becomes Juge de Paix, and a Member of the Council-General, ib.
- Visits Spain, Portugal, and England, 12.
- Writes Le Fisc et la Vigne, ib.
- Publishes two other brochures in 1843 and 1844, ib.
- Anecdote regarding unfounded Anglophobia, ib.
- Sends his first contribution to the Journal des Économistes, 13.
- Publishes Cobden et la Ligue in 1845, ib.
- Letter to Mr Cobden quoted, ib.
- Named a corresponding member of the Institute, 14.
- Letter to M. Calmètes quoted, ib.
- Visits Paris, and introduced to leading economists, 15.
- Visits England in 1845, and makes the acquaintance of Cobden, Bright, and the other Corn-Law Leaguers, ib.
- Letter to M. Coudroy quoted, 15, 16.
- Bastiat complains of the hatred to England then prevalent in France, 16.
- Settles in Paris, ib.
- His appearance, as described by M. de Molinari and M. Reybaud, 17.
- Letters to Cobden and Coudroy quoted, ib.
- Conducts the Libre-Échange newspaper, 18.
- His mode of life in Paris, ib.
- Publishes the Sophismes Économiques, great success of that work, and extract from it, 18, 19, 20, 21.
- Delivers a course of lectures on Political Economy, 21.
- Is returned as a member of the Legislative Assembly, ib.
- His daily occupations, 22.
- His pamphlets against the Socialists, Propriété et Loi; Propriété et Spoliation; Justice et Fraternité; Capital et Rente; Gratuité du Credit; Protectionisme et Communisme, etc., published in 1848-49, ib.
- Publishes Baccalauréat et Socialisme, and Ce qu’on voit et ce qu’on ne voit pas, in 1850, 23.
- Extract from the latter, 24, 25.
- Projects Harmonies Économiques, and letter to Mr Cobden on that subject quoted, 25.
- Letter to M. Coudroy on the same subjects, ib.
- His health begins to give way, 26, 27.
- His account of the reception of the Harmonies, 27.
- Notice of that work, 27, 28, 29.
- List of chapters intended to complete the second volume of the Harmonies, 30, note.
- Goes to Italy on account of his health, 30.
- His letter to M. Coudroy from Rome, 31.
- His last illness and death, 31, 32.
- Bell, Sir Charles, his work on the Hand quoted, 29, note.
- Blanqui, his opinions on landed property quoted, 255.
- Bonald, M. de, quoted, 152.
- Brazil, usual rate of interest in, said to be 20 per cent., 302.
- Buchanan, D., his opinions on landed property quoted, 252.
- Buret, M., his false theory on the relations of capitalist and labourer, 384.
- Butler, Bishop, his Sermons on Human Nature quoted, 478, note.
- Byron, Lord, quoted, 32.
- C.
- Cairnes, Professor, quoted, 18.
- Caisses de Retraite, friendly accumulation societies to provide for old age, 372, note.
- Calmètes, M., the early friend of Bastiat, 9.
- Letter to, quoted, 14.
- Candlemakers’ Petition quoted, 19.
- Capital et Rente, pamphlet by Bastiat against the Socialists, 22.
- Capital, in the beginning formed very slowly, 197.
- Consists of tools, materials, and provisions, 198.
- The man who furnishes capital renders a service, and is paid for that service, 199, 200.
- The man who accords delay renders a service, and hence the legitimacy of interest, 203, 204.
- Principle which governs the returns for capital, 206-211.
- Progress of mankind coincides with rapid accumulation of capital, 210.
- Capital has in itself a power of progression, 211.
- Increase of capital is followed by increase of general prosperity, 212.
- By increase of capital, the capitalist’s absolute share of product increased, his relative share diminished, while labourer’s share is increased both absolutely and relatively, ib.
- Illustrations of this, 213-216.
- Progress of civilisation tends to lower rate of interest, 302.
- Rates in Brazil, Algeria, Spain, Italy, Germany, France, England, and Holland, ib.
- Relations of capitalist and labourer, 383.
- Erroneous notions on this subject most dangerous, 384.
- Falsest theories abroad, ib.
- Due to M. de Sismondi and M. Buret, ib.
- Labourer’s share of product has a tendency to increase as capital increases, 385.
- When exchange takes place between capital, or anterior labour, and present labour, it is not on the footing of their duration or intensity, but of their value, 387.
- Anterior labour has a general tendency to become depreciated, 388, 389.
- Presence of capital always beneficial to labourer, 390.
- Groundless outcry against tyranny of capital, 391, 392.
- Carey, Mr, his theory of rent referred to, 274, note by Translator.
- Ce qu’on voit et ce qu’on ne voit pas, or Political Economy in one Lesson, pamphlet by Bastiat, quoted, 24.
- Referred to, 478, note.
- Châteaubriand, represents civilisation and corruption of morals as marching abreast, 511, 512.
- His Mémoires d’Outre Tombe quoted, 512.
- Civil law terms explained, 172, and note.
- Cobden, Mr, letter from, on the subject of Bastiat’s merits as an economist and writer, 4.
- Communists, their erroneous views of landed property controverted, 155.
- Competition, no organization or form of association can be substituted for, 288.
- Implies freedom from all constraint, 289.
- Levels all factitious inequalities, 290.
- Misunderstood by the Socialists, ib.
- Value diminishes through the co-operation of natural forces, not of its own accord, but by the pressure exerted by competition, 291, 292.
- In the absence of competition, society would be constituted on the principle of universal monopoly, ib.
- Competition enables one country to participate in the natural advantages of another, 293.
- Examples of this, 294, 299.
- Inventions and discoveries become, through competition, the common and gratuitous patrimony of all, 299.
- Mode in which this takes place, 300, 301.
- Competition among capitalists reduces the price of commodities, 301, 302.
- Progress of civilisation tends to lower the rate of interest, and this effected by competition, 302.
- If wages are sometimes reduced by competition, the labourers, as consumers, profit by it, 303-307.
- Competition tends to render services proportional to efforts, 306.
- Laws of modern society too often cramp competition, 309, 310.
- Competition essential to progress, and allied with human perfectibility, 313.
- It approximates ranks, fortunes, and intelligence, 316.
- Advantages from inventions, or from local situation, climate, etc., slip rapidly from hands of producers, and go to enlarge enjoyments of consumers, 333, 334.
- Same thing holds of disadvantages, 334.
- Condillac quoted, 114, 107.
- Considérant, M., his work on Socialism quoted, 62, note.
- Consumer, every man may in turn be both producer and consumer, 324, 325.
- The wishes and desires of consumers are those which are in harmony with the public interest, 325.
- Consumers and producers should be left free to take care of their own interests, 326.
- The effect of inventions and discoveries on the interests of consumers and producers represented by diagrams, 331, 332.
- Advantages from inventions, or from local situation, climate, etc., slip rapidly from the hands of producers, and go to enlarge the enjoyments of consumers, 333, 334.
- Same thing holds of disadvantages, 334.
- All great economic effects must be regarded from the consumer’s point of view, ib.
- Subordination of producer’s interests to those of consumer confirmed when viewed in connexion with morals, 335.
- Consumer is alone responsible for morality or utility of production, 338.
- Producer looks only to value, ib.
- Consumer represents society, ib.
- Consumption, a term employed to designate the enjoyment to which utility gives rise, 323.
- Coudroy, Felix, studies Philosophy and Political Economy along with Bastiat, 10.
- D.
- Defoe, D., his Robinson Crusoe referred to, 101.
- Illustration drawn from, 197.
- Demand determines all in connexion with production, 335.
- Diamond, has great value without appreciable utility, 139.
- Disturbing Causes. Political Economy sets out by assuming transactions to be free and voluntary, 446.
- Division of Labour admits of being viewed in a more general light than hitherto, 105.
- Dunoyer, M., his work Sur la Liberté du Travail referred to and commended, 92.
- E.
- Economists differ from the Socialists at the starting-point, 35, 36.
- Efforts. Wants, efforts, and satisfactions, 63-74.
- England, population of, doubles in 43 years, 404.
- L’État, pamphlet by Bastiat defining the proper province of Government, 23.
- Euler, his calculation of the period in which population doubles itself, 407.
- Applying this calculation to the facts stated by Moses, Hebrews who entered Egypt must have doubled in 14 years, ib.
- Evil, Existence of. Science has been retarded by being called on to deny the existence of evil, 504.
- Exchange, impossible to conceive society as existing without, 97.
- A phenomenon peculiar to man, 101.
- Has two manifestations, union of forces, and separation of occupations, 104.
- Consists in exchange of services, ib.
- Its influence on labour, 105.
- Upon the co-operation of natural agents, 105.
- Upon human powers and faculties, 107.
- Upon capital, ib.
- Progress of exchange, 108-111.
- Primitive form of, barter, 108.
- Barter direct and roundabout, 109.
- Limits of exchange, 111.
- An element in the problem of population which Malthus has neglected, 113.
- Moral force of exchange, 116.
- In consequence of exchange, our powers exceed our wants, ib.;
- and the gain of each is the gain of all, 117.
- Illusions to which exchange gives rise, 128-130.
- Exchange imparts the idea of value, 135.
- F.
- Fénélon quoted, 77.
- Final Causes, faith in, not unattended with danger to the mind of an inquirer, 397.
- Fisc, le, et la Vigne, pamphlet written by Bastiat in 1840, 12.
- Florez Estrada, his opinions on landed property quoted, 254.
- Florian’s Fables quoted, 135.
- Force, Public, should be confined to ensuring justice, liberty, and security, 121, 122.
- France, youth of, address to, 33.
- Friendly Societies, have conferred immense benefits on the working classes, 368.
- Admirable means of providing against sickness and old age, ib.
- Liberty and non-interference of Government essential to ensure their success, 369.
- This secures reciprocal surveillance, 369-373.
- Marked success of these societies in England, 370-373.
- This due to the non-interference of Government, 371.
- G.
- Garnier, M. Joseph, his opinions on landed property quoted, 256.
- Germany, usual rate of interest in said to be 5 per cent., 302.
- Population of, doubles in 76 years, 404.
- Girardin, M. Saint-Marc, quoted as to the influence of employments on the condition of nations, 455.
- Gratuité du Credit, pamphlet by Bastiat against Proudhon’s doctrine, in 1850, 22.
- H.
- Habit, force of, as changing man’s wants, an essential element to be taken into account, 84.
- Transforms desire into want, 85.
- Harmonies Économiques projected, and letters to Mr Cobden and M. Coudroy on that subject quoted, 25.
- Holland, usual rate of interest in, said to be under 3 per cent., 302.
- Population of, doubles in 100 years, 404.
- I.
- Icarie, voyage en, Socialist work referred to, 205.
- Institute, Bastiat named a member of, 14.
- Interest of Capital, Proudhon’s error regarding, 158.
- All the power of the Church unable to enforce prohibition of, 480.
- Isolation, in the state of, our wants exceed our powers, 98;
- and the gain of one may be the loss of another, 117.
- Italy, usual rate of interest in, said to be 6 per cent., 302.
- J.
- Johnson, Dr, his opinions on free will and necessity quoted, 473, note.
- Journal des Économistes, Bastiat’s first contribution to, 13.
- Justice et Fraternité, pamphlet by Bastiat against the Socialists, 22.
- K.
- Kepler referred to, 68.
- L.
- Labour, the assertion that all wealth comes from labour combated, 88.
- Utility communicated by nature, by labour, and oftener by a combination of both, ib.
- To produce utility, action of labour in an inverse ratio to that of nature, ib.
- As used by Economists, a vague term, and more extended meaning given to it in this work, 92.
- Distinction between productive and unproductive, has led to error, ib.
- Distinction between productive and unproductive labour rejected, 156, 157.
- Effort a better term than labour, 158.
- Labour cannot serve as a measure of value, 171.
- Unskilled labour the best for making a comparison, ib.
- In exchanging present for anterior labour, the advantage is on the side of present labour, 178.
- The opposite phenomenon sometimes manifests itself, 179.
- Laissez-faire, doctrine of, explained, 48, 448, 449.
- Lamennais, M. de, his opinions on the principle of population combated, 408, 409.
- Landed Property. The idea of value gives rise to that of property, 249.
- Confusion caused by Economists mistaking utility for value, 250.
- Property represented as monopoly, 250, 251.
- Is not a monopoly, 251.
- Opinions of English Economists on this subject—Adam Smith quoted, 252;
- French Economists—M. Say quoted, ib.;
- Opinions of Socialists and Communists—M. Considérant quoted, 257;
- Proudhon quoted, 260.
- These opinions controverted, 260-273.
- Recapitulation, 273.
- Bastiat has adopted the theory of Mr Carey on this subject, which should be taken with some modification, 274, note by Translator.
- Land which has not been subjected to human action, destitute of value, 274.
- Value resolves itself into the remuneration of anterior labour or capital, ib.
- M. Considérant’s views reverted to, 278-280.
- Productive powers of the soil have no independent value, 285.
- Case of the South Australian Association referred to, ib.
- Ameliorations which increase the value of land generally diminish the price of its produce, 347.
- Explanation of this, 348, 349.
- Theory of the progressive dearness of means of subsistence erroneous, 351, note.
- Lauderdale, Lord, his Inquiry into the Nature and Origin of Public Wealth quoted, 187, note.
- Legislation, relations of Political Economy with, 513, note.
- Liberty, solution of social problem to be found in, 34.
- Libre-Échange, newspaper, conducted by Bastiat, 18.
- M.
- M’Culloch, his opinion on landed property quoted, 253.
- Machiavel quoted, 56.
- Malthus on population, referred to, 113.
- Vindicated from violent attacks made on him, 397.
- Authors of those attacks writers of no reputation and grossly ignorant, ib.
- Malthus feared that, with so great a power of reproduction, mankind would come to exceed what the earth could maintain but for prudence and foresight, 398.
- An expression which occurred in the first edition of his Essay on Population, to the effect that population increases in a geometrical, and food in an arithmetical progression, gave rise to misrepresentation, ib.
- Made a handle of by Godwin and Sismondi, and was suppressed in all subsequent editions, 399.
- Attacks continued notwithstanding, the fiercest proceeding from men who confessed they had not read Malthus’s work, ib.
- The laws of population cannot be comprised in a brief aphorism or formula, 400.
- Were known before Malthus wrote, 402.
- Objections to his theory illogical, 405.
- Arguments against his geometrical progression not conclusive, ib.
- Wrong in adopting the limit of twenty-five years, although that holds good in America, 406, 407.
- Malthus attributes more force to repressive than preventive check, 410.
- His true formula is, not that population tends to keep on a level with, but to go beyond, the means of subsistence, 416.
- Maudit Argent! pamphlet by Bastiat exposing popular errors arising from confounding capital with money, and money with inconvertible paper, 23.
- Measure of Value, the quadrature of Political Economy, 170.
- Absolute measure a chimera, ib.
- Labour cannot serve as a measure, 171.
- Mémoire sur la question Vinicole, pamphlet published by Bastiat in 1843, 12.
- Mémoire sur la répartition de l’impôt foncier, pamphlet by Bastiat, written in 1844, 12.
- Metals, Precious, not a perfect standard of value, their own value fluctuating, 151, 152.
- Métayage, system of, explained, 61, note.
- Molière, his Malade Imaginaire quoted, 104.
- Molinari, M. de, his description of Bastiat’s appearance quoted, 17.
- Money, an intermediate commodity which facilitates the exchange of services, but does not change the principle of value, 142.
- Montaigne quoted, 97.
- Moral qualities must be taken into account with reference to production of wealth, 93, 94.
- Morality of Wealth, considerations on, 193, 194.
- Morals, relations of Political Economy with, 513, note.
- Moreau de Jonnès, his calculations of the period of doubling the population in various countries, 403.
- Moses, his account of the multiplication of Hebrews who entered Egypt, 407.
- N.
- Newton, Sir Isaac, referred to, 62.
- O.
- Organization, natural and artificial, 47.
- P.
- Paix et Liberté, pamphlet by Bastiat against excessive taxation and overgrown military and naval armaments, 22.
- Pamphlets by Bastiat, Réflexions concernant les Douanes, and Le Fisc et la Vigne, published 1840, 11, 12.
- Mémoire sur la question Vinicole appeared in 1843, and Mémoire sur la répartition de l’impôt foncier in 1844, ib.
- Pamphlets against the Socialists, Propriété et Loi, Propriété et Spoliation, Justice et Fraternité, Capital et Rente, Gratuité du Credit, Protectionisme et Communisme, etc., published in 1848-9, 22.
- Maudit Argent! extract from, 23.
- Baccalauréat et Socialisme, and Ce qu’on voit et ce qu’on ne voit pas, published in 1850, ib.;
- Peel, Sir R., triumph of Free Trade due not so much to him as to Mr Cobden, 374.
- Perfectibility, means of realizing, to be found in law of Responsibility, 509.
- Petty, Sir W., cited, 186.
- Phalanstère, a Socialist work, referred to, 64, 205, note.
- Physiocrates, French Economists of the school of Quesnay, 153, note.
- Represented all labour not worked up in a material commodity as sterile, ib.
- Political Economy, limits of the science marked out, 70, 71.
- May be defined the theory of exchange, 73;
- or the theory of value, ib.
- Takes for granted the existence of evil and suffering, 76.
- Many errors in, arise from regarding human wants as a fixed quantity, 79.
- Not one of the exact sciences, 82, 83.
- First principles of, involved in difficulties by erroneous definitions of value, 136.
- A science of observation and exposition, 502.
- Contrast between Political Economy and Socialism, ib.
- Relations of Political Economy with Morals, Politics, and Legislation, 513, note.
- May be defined the theory of exchange, 73;
- Population, laws of, cannot be comprised in a brief formula, 400.
- Vindication of Malthus, and of the general doctrine of his Essay on Population, 397, 400.
- If, as wealth increases, the number among whom it is to be divided increases more rapidly, absolute wealth may be greater, but individual wealth will be less, 401.
- Malthus has reduced the principle to the formula that population tends to keep on a level with the means of subsistence, 402.
- This principle not new; every writer on such subjects since Aristotle has proclaimed it, ib.
- Enunciated by Sir James Steuart thirty years before the appearance of the Essay on Population, ib., note.
- Nature has taken greater care of species than of individuals, in order to insure the perpetuity of races, 402.
- Instances of this in the vegetable kingdom, ib.;
- Advancing in scale of social life, means of reproduction bestowed with greater parsimony, ib.
- In the human species, reproductive faculty less powerful than in any other, ib.
- But, physically, man does not escape the law of a tendency to multiplication beyond the limits of space and nourishment, ib.
- Difference between the physiological power of multiplying and actual multiplication, ib.
- Malthus inquired in what period of time mankind would double, if space and food were unlimited, 404.
- But as this hypothesis is never realized, theoretical must be shorter than actual period, ib.
- Different rates of increase in different countries according to estimate of M. Moreau de Jonnès, 403.
- Such differences not the result of physiological causes, but of external obstacles, 404.
- New sources of local wealth lead invariably to increase of population, ib.
- Objections made to the theory of Malthus very illogical, ib.
- Nor are the arguments against his geometrical progression more conclusive, ib.
- Fixed on twenty-five years as the minimum period in which population may double itself, because this actually takes place in America, 405.
- Malthus merely asserts that it has a tendency to increase in a geometrical progression, ib.
- That this virtual power of multiplication will be restrained is just what Malthus contends for, ib.
- Restrained by preventive and repressive checks, 406.
- He was wrong in adopting the limit of twenty-five years, although it holds good in America, 406, 407.
- This mixing up of the virtual and the real has exposed him to be misunderstood and misrepresented, 406.
- Calculation by Euler of period of doubling, 407.
- Applying Euler’s calculation to the facts stated by Moses, Hebrews who entered Egypt must have doubled in 14 years, ib.
- Absolute power of multiplication limited by obstacles, 408.
- Vegetable life limited by want of space and territorial fertility—animals destitute of foresight, by want of food, 409.
- Opinions of M. de Lamennais on this subject combated, ib.
- Law of limitation as regards man manifests itself by the double action of foresight and destruction, 410.
- The term moral restraint, used by Malthus, does not give us a just idea of the domain of foresight, ib.
- Other obstacles besides fear of poverty aid the action of the law of limitation in its preventive shape, 410, 411.
- Marriages on an average are probably later than they otherwise would be by eight years in consequence of these preventive obstacles, 411.
- Supposed advice of an old clergyman regarding too early marriages, 411, 412.
- Man’s perfectibility an important element in resolving the problem of population, 413.
- Malthus, by neglecting this, has attributed less force to the preventive than to the repressive check, ib.
- For the expression, “means of subsistence,” Say has substituted one more exact, namely, “means of existence,” ib.
- Man’s constant effort to better his condition exercises control over increase of numbers, 414.
- Better circumstances induce greater foresight, ib.
- In countries like China or Ireland, when rice and potatoes fail, there is nothing to fall back on, and repressive check comes into operation, 416.
- The true formula of Malthus is, not that population tends to keep on a level with, but to go beyond, the means of subsistence, ib.
- Foresight prevents this in the human race, ib.
- Recapitulation, 416, 417.
- Population tends to redundancy most among unskilled labourers, 420.
- Marriages are less improvident among the higher classes, 421.
- Fermage less efficacious in interposing a preventive obstacle to increase of population than Métayage, 421, 422.
- These terms explained, 421. note.
- Almsgiving tends to destroy foresight, ib.
- Improvement in labourers’ cottages in England, 422.
- Rate, of wages in one country influences the rate in others, 423.
- Population is in itself a force, for increase of productive power results from density of population, 424, note.
- Producer, every member of society may in turn be both producer and consumer, 324, 325.
- Producers and consumers should be left free to take care of their own interests, 327.
- The effect of inventions and discoveries on the interest of producers and consumers illustrated by diagrams, 331, 332.
- Advantages, from inventions, or from local situation, climate, etc., slip rapidly from the hands of producers, and go to enlarge enjoyments of consumers, 333, 334.
- Same thing holds of disadvantages, 334.
- Producer has nothing to do with the utility of what is produced, only with its value, 336.
- The utility concerns the demander, ib.
- It is in the intention of the consumer that moral or immoral enjoyment is to be discovered, 338.
- Production is to modify and combine substances, not to create, them, 100.
- Production and consumption not the best terms to designate services rendered and received, 323.
- Production is employed to designate whatever confers utility, ib.
- Progress annihilates value by substituting gratuitous for onerous utility, 73.
- Prolétaire, definition of the term as used by Bastiat, 35, note.
- Property and Community, two ideas correlative to ideas of onerosity and gratuitousness, 223.
- Gifts of nature, the domain of community—human efforts, domain of property, ib.
- Principle of property, 226-229.
- Illustrations of this, 229-232.
- As society advances, property tends to recede, and community to advance, 232.
- Illustrations of this, 233-236.
- Vindication of property, 238-240.
- Distinction between community and communism, 245-248.
- Property. See Landed Property.
- Propriété et Loi, pamphlet by Bastiat against the Socialists, 22.
- Propriété et Spoliation, pamphlet by Bastiat, 22.
- Protection, a phase of communism, 323.
- This demonstrated by Bastiat in pamphlet entitled Protectionisme et Communisme, 22.
- Proudhon, his erroneous view of landed property, 155, 233, 260.
- Providence, laws of, harmonious, 43.
- Q.
- Quesnay, French Economists of his school known as the Physiocrates, 153, note.
- Represented all labour not worked up in a material commodity as sterile, ib.
- R.
- Réflexions concernant les Douanes, pamphlet written by Bastiat in 1840, 11.
- Religion derived from religare, to bind, 468.
- False religions may be known from their obstructing progress, 480.
- No form of religion ought to be repressed by law, 481, 482.
- Human mind generally begins by discovery of final causes, 514.
- Habit blinds us to final causes, ib.
- When we discover efficient, we are too apt to deny final causes, 515-517.
- Rent. See Landed Property.
- Ameliorations which increase the value of land generally diminish the price of its produce, 347.
- Explanation of this, 348, 349.
- Author intended to adopt the theory of Mr Carey in opposition to that of Ricardo, 347, note.
- Theory of the progressive dearness of means of subsistence erroneous, 351, note.
- Responsibility, belief in God the leading idea of this work, 465.
- Differs from the writings of Socialists, ib.
- The author’s proposed introduction continued by editor, 465, 466, note.
- Laws of Responsibility and Solidarity act together, 466;
- and should be viewed in their ensemble, but for the method required by science, ib.
- Evil and suffering exist everywhere, in the individual and in society, 467, 468.
- The social body not subject to inevitable decline, 468.
- De Custine’s remarks on this subject quoted, ib., note.
- Society, like the human body, has a vis medicatrix, 469.
- Men approximate to a common level which is constantly rising, ib.
- Liberty implies possible error, and error possible evil, ib.
- Socialists’ errors on this subject combated, 470, 471.
- Political Economy is not concerned to explain origin of evil, 471.
- Sufficient that evil and suffering exist, and have their mission, 472.
- Existence of free will proved by our consciousness of possessing it, 472, 473.
- Dr Johnson’s opinion on this subject quoted, 473, note.
- Every action gives rise to consequences, of which some fall back on the agent, and others on his family or on society, hence responsibility and solidarity, 474.
- Responsibility applies to the person who acts, ib.
- We cannot even conceive of man as exempt from suffering, 474, 475.
- Our notions of sensibility and existence are inseparable, 475.
- Faith the necessary complement of our destinies, ib.
- Without sensibility we should be constantly exposed to death, ib.
- If, of the consequences following on action, the majority are bad and hurtful, such action tends to limit and restrain itself, 476.
- Ignorance gives rise to bad habits and bad laws, knowledge and experience to the reverse, ib.
- Mission of evil is to destroy its own cause and stimulate progress, 477.
- Responsibility has three sanctions,—natural, religious, and legal, 478.
- The first of these is fundamental, ib.
- Is an act vicious because revelation declares it so, or does revelation declare it so because its consequences are bad? ib.
- Bishop Butler’s Sermons on Human Nature quoted, 478, note.
- If we had a religion which forbade acts proved to be useful, it could not be maintained, 479.
- All the power of the Church insufficient to enforce prohibition of interest, 480.
- False religions known from their obstructing advancement and progress, ib.
- Legal sanction should only give force and efficacy to natural sanction, ib.
- Where natural repression sufficient, legal repression should be avoided, 481.
- Law acts by means of force, and should not be applied to repress any particular form of religion, 481, 482.
- Other instances of the hurtful interposition of law, 482-485.
- Evils to which foundling hospitals have given rise, 485-487.
- Sense of responsibility capable of improvement, 487.
- Its development may be aided by female intervention, ib.
- Revolution of February, remarks on its consequences, 123-128.
- Revue des Deux Mondes quoted, 16.
- Reybaud, M. Louis, his notice of Bastiat referred to, 16.
- His description of Bastiat’s appearance quoted, 17.
- Ricardo, his theory referred to, 38.
- Robinson Crusoe, illustrations drawn from, 101, 197, 198.
- Rousseau, J. J., quoted, 48.
- His Contrat Social commented on, 56;
- Recognises the elasticity of human wants, 81.
- Admits existence of evil, 85, note;
- referred to, 94.
- His doctrine controverted, 97.
- To exalt the state of nature, makes happiness to consist in privation, 102.
- Represents solidarity as of legislative creation, 488, 489.
- Russia, population of, doubles in 43 years, 404.
- De Custine’s work on Russia quoted, 468, note.
- S.
- Saint-Chamans, M. de, referred to and quoted, 184.
- Sale and Purchase is barter by means of an intermediate commodity, 109.
- Both resolve themselves into an exchange of services, 110.
- Satisfaction of Consumers, the sole end of production, 94, 95, 96.
- The term satisfaction preferred to the word consumption, as more general, ib.
- Saving is not to accumulate commodities, but to interpose an interval between time of rendering and receiving services, 393.
- The demand for labour and the rise of wages depend on augmentation of capital, ib.
- Difficulties on the subject of saving removed by reference to the principle of value, 391.
- To interpose delay between services rendered and received is itself to render a service; it has value, and hence the origin of interest, 395.
- To give credit is to render a service, which also has value, 396.
- Saving not necessarily injurious to industry, ib.
- It does not imply actual hoarding, ib.
- Say, J. B., quoted, 90.
- Referred to, 100.
- Judicious observation on barter—troc à deux facteurs, 110.
- Wrong in representing value as residing in utility, 136.
- Quoted, 142.
- Erroneous view of landed property, 154.
- Is wrong in representing value as founded on utility, 161-164.
- Discards Smith’s distinction between productive and unproductive labour, 173.
- Gave to the word Wealth the sense of Value; Ricardo that of Utility, 181.
- His definition of natural wealth quoted, 190.
- His opinions on landed property quoted, 255.
- Has substituted the more exact expression “means of existence” for the expression “means of subsistence,” used by Malthus in his Essay on Population, 413.
- Wrong in representing taxation as in all cases an evil, 426, notes.
- Scialoja, his opinions on landed property quoted, 254.
- Scrope, his erroneous view of landed property, 253.
- Senior, his erroneous view of rent, 154.
- Services, human transactions, when free, resolve themselves into exchange of, 43.
- Value consists in comparative appreciation of, 73.
- Service is effort in one man, while the want and satisfaction are in another, 74.
- Exchange of, forms the subject of Political Economy, 133.
- Effort saved to the person who receives a service imparts value to the service rendered, 140-142.
- Service a better term than Labour, 158.
- Every product which has value implies a service, but every service does not imply a product; value, therefore, is in service, 174.
- When value passes from service to product, it undergoes, in product, all the risks and chances to which the service itself is subject, 176.
- Service is rendered by the man who furnishes capital, 199, 200.
- Private and Public service, 425.
- Where want so general as to be a public want, may be provided for by the community at large, 426.
- This does not alter essential principles of exchange, ib.;
- but modifies them, 429.
- Process explained, ib.
- Sophism that money paid to public functionaries comes back like rain on the citizens exposed, 430.
- Public services always extinguish private services of the same kind, ib.
- Public services leave no discretion to individuals, 432.
- Example of this, ib., note.
- Take away control over services both rendered and received, 433.
- Extinguish sense of responsibility, 434.
- Give rise to public discontent, 434, 435.
- Exclude competition, 435, 436.
- Question is, what services should remain in the domain of private exertion, what in that of public? 436.
- Government action is legitimate only where intervention of force legitimate, 437;
- When the State goes beyond this, it destroys liberty and property, which are placed under its safeguard, ib.
- Province of Government confined to what involves public security, taking care of common property, and levying contributions for public service, 440.
- Circumscribing the province of Government does not enfeeble, but strengthen it, 441.
- Example of the United States, 442.
- Slavery and protection in America active causes of revolution, ib.
- Revolution of February, remarks on, 444.
- Sismondi, M. de, referred to, 184.
- Smith, Adam, wrong in representing value as residing only in material substances, 91.
- His distinction between roductive and unproductive labour has led to errors, ib.
- His account of the influence of exchange on labour commended, 105.
- Wrong in representing the principle of value as residing in materiality and durability, 136.
- Quoted and controverted on the subject of value, 156.
- Opinions on landed property quoted, 252.
- Social Motive Force described and explained, 495-503.
- Personal interest is the social motive force which leads us to shun evil and seek after good, 495.
- Attraction towards happiness and repulsion from pain, the mainspring of the social mechanism, 496.
- This impulsive force is under direction of our intelligence, and intelligence may err, ib.
- The laws of responsibility and solidarity lend assistance to repress error and injustice, 497.
- Attempts of the Socialists to substitute devotion and self-sacrifice for personal interest, as the social motive force, combated, 498, 499.
- Socialist works and writers referred to, 500-503.
- Social Problem, demands solution, 33, 34.
- Socialists differ from Economists in regarding man’s interests as antagonistic, 35.
- Socialist works referred to, 64, and note.
- Society, mechanism of, 48.
- Solidarity is collective responsibility, 488.
- Not of legislative creation, as represented by Rousseau, 488, 489.
- The philosophers of the last century did not believe in it, 489.
- Instances in which individuals suffer from the errors or faults of others—this is the law of solidarity, 489, 490.
- Responsibility is not exclusively personal, but is shared and divided, 490.
- Society, in turn, suffers from the errors or faults of individuals, and the law of solidarity comes to check such actions, 491.
- Solidarity, like responsibility, is a progressive force, and resolves itself into repercussive or reflected responsibility, ib.
- To enable those who suffer from another’s acts to react against them, connexion between cause and effect should be known, 492.
- Not always known, from the circumstance that the first effect may seem good, though all the subsequent consequences are bad, ib.
- Example of this in case of war, ib.
- In the case of slavery, of religious errors, and of prohibition, ib.
- Human law should coincide with the natural law, and organize reaction, 493.
- Example of this in case of violence, which provokes vengeance, law steps in to repress it with regularity and certainty, 493, 494.
- Economic view of the law of solidarity not indicated by the author in this chapter, 494, note.
- Sophismes Économiques, great success of that work, and extract from it, 18;
- Spain, usual rate of interest in, said to be 8 per cent., 302.
- Population of, doubles in 106 years, 404.
- Spoliation and oppression, the sources of all social dissonances, 318-322.
- Statistics, Experimental, what meant by, 353-360.
- Stewart, Sir James, took the same view of the principle of population which Malthus more formally enunciated, thirty years before the appearance of the Essay on Population, 402, note.
- Storch, his erroneous view of the principle of value, 136.
- Supply often virtually precedes demand, 335.
- This arises from foresight of producer, ib.
- Intensity of demand pre-existent, 335.
- Switzerland, population of, doubles in 227 years, 404.
- T.
- Taxation, not necessarily a loss, as represented by Say, 426, 427, note.
- Tracy, M. de, quoted, 106, 107.
- Turkey, population of, doubles in 555 years, 403.
- U.
- Utility, onerous and gratuitous, 69.
- By substituting gratuitous for onerous utility, progress annihilates value, ib.
- Gratuitous, tends to take the place of onerous utility, 90, 91.
- Mode in which this is effected, 91, 92.
- Attributing value to utility has led to many errors, 164-167.
- The term Production employed to designate whatever confers utility, and Consumption to designate the enjoyment to which that utility gives rise, 323.
- What renders service to the masses is utility alone, and value is not the measure of it, 325;
- General utility and onerous utility represented by lines of unequal length; gratuitous utility, by indefinite lines, 328.
- Utility formerly onerous, now become gratuitous, also represented by lines, 330.
- V.
- Value consists in the comparative appreciation of reciprocal services, 73.
- Does not reside in material substances, as represented by Smith, 91.
- Vague definition of, 108.
- Value represents effort, 109.
- Theory of value, 131.
- As essential to Political Economy as numeration is to arithmetic, ib.
- Value has a tendency to diminish in relation to utility, 132.
- Does not extend to the co-operation of nature, but is restricted exclusively to human efforts, 134.
- A state of isolation excludes the idea of value, ib.
- Exchange imparts the notion of value, 135.
- Value is the relation of two services exchanged, ib.
- Not necessarily proportionate to intensity of efforts, 138.
- Arises in some cases, not from the effort of the person who renders the service, but from the effort saved to the person who receives it, 140, 141.
- This is a new principle not to be found in any other work on Political Economy, 141.
- Intervention of money does not change the principle, 142, 143.
- Value does not reside in commodities, but in services, 143.
- Examples of various kinds of services, all possessed of value, 147.
- Limits within which value oscillates, ib.;
- The precious metals not a perfect standard of value, as their own value fluctuates, 151, 152.
- Value not an attribute of matter, 153.
- This an error of the Physiocrates and of Adam Smith, and has given rise to the distinction between productive and unproductive labour, 153, 154.
- Value not a thing having independent existence, but a relation, 158.
- Value and Labour are not proportional, 159, 160, note.
- Measure of value the quadrature of Political Economy, 170.
- Fixity cannot be found in a mean term composed of variable elements, ib.
- Absolute measure of, a chimera, ib.
- Value being supposed to be in the material product, and not in the service, has led to Smith’s error as to unproductive labour, 172.
- When value passes from service to product, it undergoes, in product, all the risks and chances to which the service itself is subject, 176.
- Prevailing tendency of value incorporated with a commodity is to fall, 178.
- Value is the measure of the utility of services rendered to the individual, not of those rendered to the masses, 325, 326.
- W.
- Wages. Men are always in search of something fixed, 352.
- Hence the great desire for government offices, 353.
- Fixity favoured by two circumstances, 354.
- Illustrations drawn from the principle of fire insurance, 354-357.
- Remuneration by wages has the principle of fixity, so much sought after, 357.
- Opinions of the Socialists on this subject controverted, 357, 358.
- Wages, their origin, form, and effects, 358.
- Labour may be remunerated either by share of its product or by fixed wages, 359.
- Dependence not caused by form of remuneration, but by precarious situation of labourer, ib.
- No men worse off than fishermen and vine-dressers, though they have the benefits of association, 359, 360.
- Results of labour applied to the chase, fishing, or agriculture very uncertain, ib.
- To obviate this, a fixed unconditional bargain preferred, 360.
- This is not to destroy, but improve, the principle of association, ib.
- Risks appreciated by means of experimental statistics, ib.
- Remuneration by share of produce characteristic of times of barbarism, 361.
- Fixity of remuneration a step of progress, ib.
- Association not thereby dissolved, ib.
- Capital and labour both take a share of risk till it can be estimated by experience, ib.
- This state of things gives place to a bargain which ensure unity of direction and fixity of situation, 362.
- The capitalist may take risk, paying fixed wages, or labourer may take risk, paying a fixed interest—still there is association, 362, 363.
- Wages have nothing degrading in them any more than interest, 363.
- The one is the remuneration of present, the other of anterior labour, ib.
- Such stipulations are the cause and the manifestation of progress, ib.
- Socialist errors on this subject confuted, 364, 365.
- Friendly Societies admirable means of providing against sickness and old age, 368.
- Have conferred immense benefits on the working classes, ib.
- Caisses de Retraite, Friendly Accumulation Societies, 371-378.
- Anterior labour, or capital, must necessarily have more security than present labour, 377-379.
- Future of the working classes—tendency to become capitalists, 379-383.
- Progress of the working classes between 1750 and 1850, 381.
- Relations of the capitalist and labourer, 383.
- Erroneous notions on this subject most dangerous, 384.
- Falsest theories abroad, ib.
- Due to M. de Sismondi and M. Buret, ib.
- Labourer’s share of product has a tendency to increase as capital increases, 385.
- When exchange takes place between capital, or anterior labour, and present labour, it is not on the footing of their duration or intensity, but of their value, 387.
- Anterior labour has a general tendency to become depreciated, 388, 389.
- Presence of capital always beneficial to labourer, 390.
- Groundless outcry against tyranny of capital, 391, 392.
- Wants, efforts, and satisfactions, constitute the domain of Political Economy, 69-74.
- War. Principal thing which imparts to nations their distinctive character is the manner in which they provide for their subsistence, 454.
- Labour, although little noticed by historians, held as important a place among the ancients as it does with us, 457.
- War, spoliation, marked difference in the character of a nation which lives by, 458.
- It presupposes production, ib.
- Spoliation in the shape of war has its root in selfishness, 459.
- Personal interest gives rise to harmony, but there are disturbing causes, 460.
- Labour is in itself a good, independent of its results, but we do not desire it for its own sake, ib.
- Man, being placed between two evils, want and labour, seeks to get rid of both, 461.
- Spoliation then presents itself as a solution of the problem, ib.
- War a waste of human power, ib.
- And the spoliator does not get quit of labour, ib.
- Checks production by the insecurity it creates, 462.
- Contrasts between the producer and spoliator, ib.
- War has been a widespread evil, 462, 463.
- Interrupts human progress, 463.
- How the warlike spirit is propagated, ib.
- How war ends, 464.
- Water has utility without possessing value, 138;
- Wealth, natural and social, 73;
- actual or relative, 180.
- Relative wealth is measured by value, not utility, 181.
- Ricardo gave to the word Wealth the sense of utility; Say, that of value, ib.
- Effective wealth, the aggregate utilities which labour, aided by natural agents, places within our reach, 192.
- Relative wealth, proportional share of each in the general riches, determined by value, ib.
- Morality of, 193, 194.
- Motive which leads to acquisition of, natural, and consequently moral, 193.
- Desire to better our circumstances also moral, ib.;
- but if we seek to become rich by injustice, this immoral, ib.
- Y.
- Youth of France, address to, 33.