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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.)
There are periods in the life of human society when revolution becomes an imperative necessity, when it proclaims itself as inevitable. New ideas germinate everywhere, seeking to force their way into the light, to find an application in life; everywhere they are opposed by the inertia of those whose interest it is to maintain the old order; they suffocate in the stifling atmosphere of prejudice and traditions. The accepted ideas of the constitution of the State, of the laws of social equilibrium, of the political and economic interrelations of citizens, can hold out no longer against the implacable criticism which is daily undermining them whenever occasion arises,--in drawing room as in cabaret, in the writings of philosophers as in daily ... (From : Anarchy Archives.)
I. INDUSTRIAL COMPETITION In 1883, when England, Germany, Austria, and Romania, taking advantage of the isolation of France, leagued themselves against Russia, and a terrible European war was about to blaze forth, we pointed out in the Rvolt what were the real motives for rivalry among States and the wars resulting therefrom. The reason for modern war is always the competition for markets and the right to exploit nations backward in industry. In Europe we no longer fight for the honor of kings. Armies are pitted against each other that the revenues of Messrs. Almighty Rothschild, of Schneider, of the Most Worshipful Company of Anzin, or of the most Holy Catholic Bank of Rome may remain unimpaired. Kings are no longer of any account. In fact... (From : Anarchy Archives.)