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.)
FOREWORD France has exhausted the principles that once sustained it. Its conscience is empty, just like its reason. All the famous writers that it has produced in the last half-century,—the de Maisters, the Chateaubriands, the Lamennais, the de Bonalds, the Cousins, the Guizots, the Lamartines, the Saint-Simons, the Michelets, Catholics, eclectics, economists, socialists, and members of parliament,—have not ceased to predict that moral collapse which, thanks to God's mercy, man's foolishness, and the necessity of things, has finally arrived. The philosophers of Germany have echoed the prophets of France, as finally the destiny of our homeland has become common to all the old world; for it is written that as French society is, so... (From : Anarchy Archives.)
Proudhon, Pierre Joseph. System of Economical Contradictions: or, the Philosophy of Misery Electronic Text Center, University of Virginia Library THE WORKS OF P. J. PROUDHON VOLUME IV. SYSTEM OF ECONOMICAL CONTRADICTIONS. I. Published and Sold by BENJAMIN R. TUCKER, BOSTON, MASS. 1888 SYSTEM OF ECONOMICAL CONTRADICTIONS OR, THE PHILOSOPHY OF MISERY. BY P. J. PROUDHON Destruam et ædificabo. Deuteronomy: c. 32. VOLUME FIRST. TRANSLATED FROM THE FRENCH BY BENJAMIN R. TUCKER Published and Sold by BENJAMIN R. TUCKER, BOSTON, MASS. 1888 University Press: JOHN WILSON AND SON, CAMBRIDGE CONTENTS. INTRODUCTION. . . . . . . . . . . . . . . . . . . 1 CHAPTER I. OF THE ECONOMIC SCIENCE . . . . .