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.)
Proudhon, Pierre Joseph. System of Economical Contradictions: or, the Philosophy of Misery Electronic Text Center, University of Virginia Library I. If I follow the God-idea through its successive transformations, I find that this idea is preeminently social: I mean by this that it is much more a collective act of faith than an individual conception. Now, how and under what circumstances is this act of faith produced? This point it is important to determine. From the moral and intellectual point of view, society, or the collective man, is especially distinguished from the individual by spontaneity of action, -- in other words, instinct. While the individual obeys, or imagines he obeys, only those motives of which he is fully conscious, and upon which he can at will decline or consent to act; while, in a word, he thinks himself free, and all the freer when he knows that he is possessed of keener reasoni...