Third Study. The Principle of Association. The Revolution of ’89 had the industrial order to build, after having made a clean sweep of the feudal order. By returning to political theories, it plunged us into economic chaos. In place of a natural order conceived in accordance with science and labor, we have a factitious order, in the shadow of which we have developed parasitic interests, abnormal morals, monstrous ambitions, prejudices at variance with common sense, which today all claim to be legitimate, invoking a tradition of sixty years, and, being unwilling either to abdicate or to modify their demands, place themselves in an antagonistic attitude toward one another, and in a reactionary attitude toward progress. As this state of affairs, of which the principle, the means and the end is War, is unable to answer the needs of an entirely industrial civilization, revolution is the necessary result. But, as everything in the...
These letters, addressed to Frederic Bastiat, an economist, originally appeared in a debate published in The Voice of the People, in 1849. Interest and Principal A Loan is a Service On the one hand, it is very true, as you have unquestionably established, that a loan is a service. And as every service has a value, and, in consequence, is entitled by its nature to a reward, it follows that a loan ought to have its price, or, to use the technical phrase, ought to bear interest. But it is also true, and this truth is consistent with the preceding one, that he who tends, under the ordinary conditions of the professional lender, does not deprive himself, as you phrase it, of the capital which be lends. He lends it, on the contrary, precisely bec... (From : Anarchy Archives.)
These letters, addressed to Frederic Bastiat, an economist, originally appeared in a debate published in The Voice of the People, in 1849. Interest and Principal The Origin of Ground Rent I said before that in ancient times the landed proprietor, when neither he nor his family farmed his land, as was the case among the Romans in the early days of the Republic, cultivated it through his slaves: such was the general practice of patrician families. Then slavery and the soil were chained together; the farmer was called adscrpitus gleboe, joined to the land; property in men and things was undivided. The price of a farm depended upon its area and quality of its soil, upon the quantity of stock, and upon the number of slaves. When the emancipation... (From : Anarchy Archives.)