“What! do you say that such should be the condition of one who sings of gods and men? Alms, with the humiliation and suffering which they bring with them!—what barbarous generosity!” … Do not get excited, I beg of you. Property makes of a poet either a Croesus or a beggar; only equality knows how to honor and to praise him. What is its duty? To regulate the right of the singer and the duty of the listener. Now, notice this point, which is a very important one in the solution of this question: both are free, the one to sell, the other to buy. Henceforth their respective pretensions go for nothing; and the estimate, whether fair or unfair, that they place, the one upon his verse, the other upon his liberality, can have no influence upon the conditions of the contract. We must no longer, in making our bargains, weigh talent; we must consider products only.
In order that the bard of Achilles may get his due reward, he must first make himself wanted: that done, the exchange of his verse for a fee of any kind, being a free act, must be at the same time a just act; that is, the poet’s fee must be equal to his product. Now, what is the value of this product?
Let us suppose, in the first place, that this Iliad—this chef-d’oeuvre that is to be equitably rewarded—is really above price, that we do not know how to appraise it. If the public, who are free to purchase it, refuse to do so, it is clear that, the poem being unexchangeable, its intrinsic value will not be diminished; but that its exchangeable value, or its productive utility, will be reduced to zero, will be nothing at all. Then we must seek the amount of wages to be paid between infinity on the one hand and nothing on the other, at an equal distance from each, since all rights and liberties are entitled to equal respect; in other words, it is not the intrinsic value, but the relative value, of the thing sold that needs to be fixed. The question grows simpler: what is this relative value? To what reward does a poem like the Iliad entitle its author?
The first business of political economy, after fixing its definitions, was the solution of this problem; now, not only has it not been solved, but it has been declared insoluble. According to the economists, the relative or exchangeable value of things cannot be absolutely determined; it necessarily varies.
“The value of a thing,” says Say, “is a positive quantity, but only for a given moment. It is its nature to perpetually vary, to change from one point to another. Nothing can fix it absolutely, because it is based on needs and means of production which vary with every moment. These variations complicate economical phenomena, and often render them very difficult of observation and solution. I know no remedy for this; it is not in our power to change the nature of things.”
Elsewhere Say says, and repeats, that value being based on utility, and utility depending entirely on our needs, whims, customs, etc., value is as variable as opinion. Now, political economy being the science of values, of their production, distribution, exchange, and consumption—if exchangeable value cannot be absolutely determined, how is political economy possible? How can it be a science? How can two economists look each other in the face without laughing? How dare they insult metaphysicians and psychologists? What! that fool of a Descartes imagined that philosophy needed an immovable base—an aliquid inconcussum—on which the edifice of science might be built, and he was simple enough to search for it! And the Hermes of economy, Trismegistus Say, devoting half a volume to the amplification of that solemn text, political economy is a science, has the courage to affirm immediately afterwards that this science cannot determine its object—which is equivalent to saying that it is without a principle or foundation! He does not know, then, the illustrious Say, the nature of a science; or rather, he knows nothing of the subject which he discusses.
Say’s example has borne its fruits. Political economy, as it exists at present, resembles ontology: discussing effects and causes, it knows nothing, explains nothing, decides nothing. The ideas honored with the name of economic laws are nothing more than a few trifling generalities, to which the economists thought to give an appearance of depth by clothing them in high-sounding words. As for the attempts that have been made by the economists to solve social problems, all that can be said of them is, that, if a glimmer of sense occasionally appears in their lucubrations, they immediately fall back into absurdity. For twenty-five years political economy, like a heavy fog, has weighed upon France, checking the efforts of the mind, and setting limits to liberty.
Has every creation of industry a venal, absolute, unchangeable, and consequently legitimate and true value?—Yes.
Can every product of man be exchanged for some other product of man?—Yes, again.
How many nails is a pair of shoes worth?
If we can solve this appalling problem, we shall have the key of the social system for which humanity has been searching for six thousand years. In the presence of this problem, the economist recoils confused; the peasant who can neither read nor write replies without hesitation: “As many as can be made in the same time, and with the same expense.”
The absolute value of a thing, then, is its cost in time
