,*APT] #b1 ,SECTION #b4#c 
,APPLICATION ( ! ,LAW ( ,PROPORTIONALITY ( ,VALUES 

#ahdfahdf 

,PEOPLE 3 

,AU?OR 3 ,PI]RE-,JOSEPH ,PR\DHON 

,TEXT 3 

,PR\DHON1 ,PI]RE ,JOSEPH4 ,SY/EM ( ,ECONOMICAL ,CONTRADICTIONS3 OR1 ! ,PHILOSOPHY (  
,MIS]Y 

,ELECTRONIC ,TEXT ,C5T]1 ,UNIV]SITY ( ,VIRG9IA ,LIBR>Y 

 #c4 -- ,APPLICATION ( ! LAW ( PROPORTIONALITY ( VALUES4  

  

,EV]Y PRODUCT IS A REPRES5TATIVE ( LABOR4 

,EV]Y PRODUCT1 !RE=E1 CAN BE EX*ANG$ = SOME O!R1 AS UNIV]SAL PRACTICE PROVES4 

,BUT ABOLI% LABOR1 & Y\ HAVE LEFT ONLY >TICLES ( GREAT] OR LESS USEFULNESS1 :I*1 BE+ /AMP$ ) NO ECONOMIC *>ACT]1 NO HUMAN SEAL1 >E )\T A COMMON MEASURE1 -- ?AT IS1 >E LOGICALLY UNEX*ANGEABLE4 

,GOLD & SILV]1 LIKE O!R >TICLES ( M]*&ISE1 >E REPRES5TATIVES ( VALUE2 !Y HAVE1 !RE=E1 BE5 ABLE TO S]VE AS COMMON MEASURES & M$IUMS ( EX*ANGE4 ,BUT ! SPECIAL FUNCTION :I* CU/OM HAS ALLOTT$ TO ! PRECI\S METALS1 -- ?AT ( S]V+ AS A COMM]CIAL AG5T1 -- IS PURELY CONV5TIONAL1 & ANY O!R >TICLE ( M]*&ISE1 LESS CONV5I5TLY P]HAPS1 BUT JU/ AS AU!NTICALLY1 C\LD PLAY ?IS P>T3 ! ECONOMI/S ADMIT IT1 & MORE ?AN ONE EXAMPLE ( IT CAN BE CIT$4 ,:AT1 !N1 IS ! REASON ( ?IS PREF]5CE G5]ALLY ACCORD$ TO ! METALS = ! PURPOSE ( MONEY1 & H[ %ALL WE EXPLA9 ?IS SPECIALTY ( FUNCTION1 UNP>ALLEL$ 9 POLITICAL ECONOMY1 POSSESS$ BY SPECIE8 ,= EV]Y UNIQUE ?+ 9COMP>ABLE 9 K9D IS NECESS>ILY V]Y DIFFICULT ( COMPREH5SION1 & (T5 EV5 FAILS ( IT ALTOGE!R4 ,N[1 IS IT POSSIBLE TO RECON/RUCT ! S]IES FROM :I* MONEY SEEMS TO HAVE BE5 DETA*$1 &1 CONSEQU5TLY1 RE/ORE ! LATT] TO ITS TRUE PR9CIPLE8 

,9 DEAL+ ) ?IS QUE/ION ! ECONOMI/S1 FOLL[+ !IR USUAL C\RSE1 HAVE RU%$ BEYOND ! LIMITS ( !IR SCI5CE2 !Y HAVE APPEAL$ TO PHYSICS1 TO ME*ANICS1 TO HI/ORY1 ETC42 !Y HAVE TALK$ ( ALL ?+S1 BUT HAVE GIV5 NO ANSW]4 ,! PRECI\S METALS1 !Y HAVE SAID1 BY !IR SC>CITY1 D5SITY1 & 9CORRUPTIBILITY1 >E FITT$ TO S]VE AS MONEY 91 A DEGREE UNAPPROA*$ BY O!R K9DS ( M]*&ISE4 ,9 %ORT1 ! ECONOMI/S1 9/EAD ( REPLY+ TO ! ECONOMIC QUE/ION PUT TO !M1 HAVE SET !MSELVES TO ! EXAM9ATION ( A QUE/ION ( >T4 ,!Y HAVE LAID GREAT /RESS ON ! ME*ANICAL ADAPTATION ( GOLD & SILV] = ! PURPOSE ( MONEY2 BUT NOT ONE ( !M HAS SE5 OR UND]/OOD ! ECONOMIC REASON :I* GAVE TO ! PRECI\S METALS ! PRIVILEGE !Y N[ 5JOY4 

,N[1 ! PO9T ?AT NO ONE HAS NOTIC$ IS ?AT1 ( ALL ! V>I\S >TICLES ( M]*&ISE1 GOLD & SILV] W]E ! FIR/ :OSE VALUE WAS DET]M9$4 ,9 ! PATRI>*AL P]IOD1 GOLD & SILV] /ILL W]E B\<T & SOLD 9 +OTS1 BUT ALREADY ) A VISIBLE T5D5CY TO SUP]IORITY & ) A M>K$ PREF]5CE4 ,GRADUALLY SOV]EIGNS TOOK POSSESSION ( !M & /AMP$ !M ) !IR SEAL2 & FROM ?IS ROYAL CONSECRATION WAS BORN MONEY1 -- ?AT IS1 ! COMMODITY P> EXCELL5CE2 ?AT :I*1 NOT)/&+ ALL COMM]CIAL %OCKS1 MA9TA9S A DET]M9$ PROPORTIONAL VALUE1 & IS ACCEPT$ 9 PAYM5T = ALL ?+S4 

,?AT :I* DI/+UI%ES SPECIE1 9 FACT1 IS NOT ! DURABILITY ( ! METAL1 :I* IS LESS ?AN ?AT ( /EEL1 NOR ITS UTILITY1 :I* IS MU* BEL[ ?AT ( :EAT1 IRON1 COAL1 & NUM]\S O!R SUB/ANCES1 REG>D$ AS ALMO/ VILE :5 COMP>$ ) GOLD2 NEI!R IS IT ITS SC>CITY OR D5SITY1 = 9 BO? !SE RESPECTS IT MI<T BE REPLAC$1 EI!R BY LABOR SP5T UPON O!R MAT]IALS1 OR1 AS AT PRES5T1 BY BANK NOTES REPRES5T+ VA/ AM\NTS ( IRON OR COPP]4 ,! DI/9CTIVE FEATURE ( GOLD & SILV]1 ,I REPEAT1 IS ! FACT ?AT1 [+ TO !IR METALLIC PROP]TIES1 ! DIFFICULTIES ( !IR PRODUCTION1 &1 ABOVE ALL1 ! 9T]V5TION ( PUBLIC AU?ORITY1 !IR VALUE AS M]*&ISE WAS FIX$ & AU!NTICAT$ AT AN E>LY DATE4 

,I SAY !N ?AT ! VALUE ( GOLD & SILV]1 ESPECIALLY ( ! P>T ?AT IS MADE 9TO MONEY1 AL?\< P]HAPS IT HAS NOT YET BE5 CALCULAT$ ACCURATELY1 IS NO LONG] >BITR>Y2 ,I ADD ?AT IT IS NO LONG] SUSCEPTIBLE ( DEPRECIATION1 LIKE O!R VALUES1 AL?\< IT MAY V>Y CONT9UALLY NEV]!LESS4 ,ALL ! LOGIC & ]UDITION ?AT HAS BE5 EXP5D$ TO PROVE1 BY ! EXAMPLE ( GOLD & SILV]1 ?AT VALUE IS ESS5TIALLY 9DET]M9ABLE1 IS A MASS ( P>ALOGISMS1 >IS+ FROM A FALSE IDEA ( ! QUE/ION1 AB IGNORANTIA EL5*I4 

,PHILIP ,I41 ,K+ ( ,FRANCE1 MIX$ ) ! LIVRE T\RNOIS ( ,*>LEMAGNE ONE-?IRD ALLOY1 IMAG9+ ?AT1 S9CE HE HELD ! MONOPOLY ( ! P[] ( CO9+ MONEY1 HE C\LD DO :AT EV]Y M]*ANT DOES :O HOLDS ! MONOPOLY ( A PRODUCT4 ,:AT WAS1 9 FACT1 ?IS ADULT]ATION ( MONEY1 = :I* ,PHILIP & HIS SUCCESSORS >E SO SEV]ELY BLAM$8 ,A V]Y S\ND >GUM5T FROM ! /&PO9T ( COMM]CIAL R\T9E1 BUT :OLLY FALSE 9 ! VIEW ( ECONOMIC SCI5CE1 -- NAMELY1 ?AT1 SUPPLY & DEM& BE+ ! REGULATORS ( VALUE1 WE MAY1 EI!R BY CAUS+ AN >TIFICIAL SC>CITY OR BY MONOPOLIZ+ ! MANUFACTURE1 RAISE ! E/IMATION1 & CONSEQU5TLY ! VALUE1 ( ?+S1 & ?AT ?IS IS AS TRUE ( GOLD & SILV] AS ( :EAT1 W9E1 OIL1 TOBACCO4 ,NEV]!LESS1 ,PHILIP'S FRAUD WAS NO SOON] SUSPECT$ ?AN HIS MONEY WAS R$UC$ TO ITS TRUE VALUE1 & HE LO/ HIMSELF ALL ?AT HE HAD EXPECT$ TO GA9 FROM HIS SUBJECTS4 ,! SAME ?+ HAPP5$ AFT] ALL SIMIL> ATTEMPTS4 ,:AT WAS ! REASON ( ?IS DISAPPO9TM5T8 

,BECAUSE1 SAY ! ECONOMI/S1 ! QUANTITY ( GOLD & SILV] 9 REALITY BE+ NEI!R DIM9I%$ NOR 9CREAS$ BY ! FALSE CO9AGE1 ! PROPORTION ( !SE METALS TO O!R M]*&ISE WAS NOT *ANG$1 & CONSEQU5TLY IT WAS NOT 9 ! P[] ( ! SOV]EIGN TO MAKE ?AT :I* WAS WOR? BUT TWO WOR? F\R4 ,= ! SAME REASON1 IF1 9/EAD ( DEBAS+ ! CO91 IT HAD BE5 9 ! K+'S P[] TO D\BLE ITS MASS1 ! EX*ANGEABLE VALUE ( GOLD & SILV] W\LD HAVE DECREAS$ ONE-HALF IMM$IATELY1 ALWAYS ON ACC\NT ( ?IS PROPORTIONALITY & EQUILIBRIUM4 ,! ADULT]ATION ( ! CO9 WAS1 !N1 ON ! P>T ( ! K+1 A =C$ LOAN1 OR RA!R1 A BANKRUPTCY1 A SW9DLE4 

,M>VEL\S6 ! ECONOMI/S EXPLA9 V]Y CLE>LY1 :5 !Y *OOSE1 ! !ORY ( ! MEASURE ( VALUE2 ?AT !Y MAY DO SO1 IT IS NECESS>Y ONLY TO />T !M ON ! SUBJECT ( MONEY4 ,:Y1 !N1 DO !Y NOT SEE ?AT MONEY IS ! WRITT5 LAW ( COMM]CE1 ! TYPE ( EX*ANGE1 ! FIR/ L9K 9 ?AT LONG *A9 ( CREATIONS ALL ( :I*1 AS M]*&ISE1 MU/ RECEIVE ! SANCTION ( SOCIETY1 & BECOME1 IF NOT 9 FACT1 AT LEA/ 9 RI<T1 ACCEPTABLE AS MONEY 9 SETTLEM5T ( ALL K9DS ( TRANSACTIONS8 

0,MONEY10 ,M4 ,AUGI] V]Y TRULY SAYS1 0CAN S]VE1 EI!R AS A MEANS ( AU!NTICAT+ CONTRACTS ALREADY MADE1 OR AS A GOOD M$IUM ( EX*ANGE1 ONLY SO F> AS ITS VALUE APPROA*ES ! IDEAL ( P]MAN5CE2 = 9 ALL CASES IT EX*ANGES OR BUYS ONLY ! VALUE :I* IT POSSESSES40.<#a.>  

,NOTE3  

.<#a.> 0,HI/ORY ( ,PUBLIC ,CR$IT40 

,LET US TURN ?IS EM95TLY JUDICI\S OBS]VATION 9TO A G5]AL =MULA4 

,LABOR BECOMES A GU>ANTEE ( WELL-BE+ & EQUALITY ONLY SO F> AS ! PRODUCT ( EA* 9DIVIDUAL IS 9 PROPORTION ) ! MASS2 = 9 ALL CASES IT EX*ANGES OR BUYS A VALUE EQUAL ONLY TO ITS [N4 

,IS IT NOT /RANGE ?AT ! DEF5SE ( SPECULATIVE & FRAUDUL5T COMM]CE IS UND]TAK5 BOLDLY1 :ILE AT ! SAME TIME ! ATTEMPT ( A ROYAL C\NT]FEIT]1 :O1 AFT] ALL1 DID BUT APPLY TO GOLD & SILV] ! FUNDAM5TAL PR9CIPLE ( POLITICAL ECONOMY1 ! >BITR>Y 9/ABILITY ( VALUES1 IS FR[N$ D[N8 ,IF ! ADM9I/RATION %\LD PRESUME TO GIVE TWELVE \NCES ( TOBACCO = A P\ND1.<#a.> ! ECONOMI/S W\LD CRY ROBB]Y2 BUT1 IF ! SAME ADM9I/RATION1 US+ ITS PRIVILEGE1 %\LD 9CREASE ! PRICE A FEW C5TS A P\ND1 !Y W\LD REG>D IT AS DE>1 BUT W\LD DISCOV] NO VIOLATION ( PR9CIPLES4 ,:AT AN IMBROGLIO IS POLITICAL ECONOMY6 

,!RE IS1 !N1 9 ! MONETIZATION ( GOLD & SILV] SOME?+ ?AT ! ECONOMI/S HAVE GIV5 NO ACC\NT (2 NAMELY1 ! CONSECRATION ( ! LAW ( PROPORTIONALITY1 ! FIR/ ACT 9 ! CON/ITUTION ( VALUES4 ,HUMANITY DOES ALL ?+S BY 9F9ITELY SMALL DEGREES3 AFT] COMPREH5D+ ! FACT ?AT ALL PRODUCTS ( LABOR MU/ BE SUBMITT$ TO A PROPORTIONAL MEASURE :I* MAKES ALL ( !M EQUALLY EX*ANGEABLE1 IT BEG9S BY GIV+ ?IS ATTRIBUTE ( ABSOLUTE EX*ANGEABILITY TO A SPECIAL PRODUCT1 :I* %ALL BECOME ! TYPE & MODEL ( ALL O!RS4 ,9 ! SAME WAY1 TO LIFT ITS MEMB]S TO LIB]TY & EQUALITY1 IT BEG9S BY CREAT+ K+S4 ,! PEOPLE HAVE A CONFUS$ IDEA ( ?IS PROVID5TIAL PROGRESS :51 9 !IR DREAMS ( =TUNE & 9 !IR LEG5DS1  

,NOTE3  

.<#a.> ,9 ,FRANCE1 ! SALE ( TOBACCO IS A GOV]NM5T MONOPOLY4 -- ,TRANSLATOR4 

!Y SPEAK CONT9UALLY ( GOLD & ROYALTY2 & ! PHILOSOPH]S ONLY DO HOMAGE TO UNIV]SAL REASON :51 9 !IR SO-CALL$ MORAL HOMILIES & !IR SOCIALI/IC UTOPIAS1 !Y ?UND] ) EQUAL VIOL5CE AGA9/ GOLD & TYRANNY4 ,AURI SACRA FAMES6 ,CURS$ GOLD6 LUDICR\SLY %\TS SOME COMMUNI/4 ,AS WELL SAY CURS$ :EAT1 CURS$ V9ES1 CURS$ %EEP2 =1 LIKE GOLD & SILV]1 EV]Y COMM]CIAL VALUE MU/ REA* AN EXACT & ACCURATE DET]M9ATION4 ,! WORK WAS BEGUN LONG S9CE2 TODAY IT IS MAK+ VISIBLE PROGRESS4 

,LET US PASS TO O!R CONSID]ATIONS4 

,IT IS AN AXIOM G5]ALLY ADMITT$ BY ! ECONOMI/S ?AT ALL LABOR %\LD LEAVE AN EXCESS4 

,I REG>D ?IS PROPOSITION AS UNIV]SALLY & ABSOLUTELY TRUE2 IT IS A COROLL>Y ( ! LAW ( PROPORTIONALITY1 :I* MAY BE REG>D$ AS AN EPITOME ( ! :OLE SCI5CE ( ECONOMY4 ,BUT -- ,I BEG P>DON ( ! ECONOMI/S -- ! PR9CIPLE ?AT ALL LABOR %\LD LEAVE AN EXCESS HAS NO MEAN+ 9 !IR !ORY1 & IS NOT SUSCEPTIBLE ( DEMON/RATION4 ,IF SUPPLY & DEM& ALONE DET]M9E VALUE1 H[ CAN WE TELL :AT IS AN EXCESS & :AT IS A SUFFICI5CY8 ,IF NEI!R CO/1 NOR M>KET PRICE1 NOR WAGES CAN BE MA!MATICALLY DET]M9$1 H[ IS IT POSSIBLE TO CONCEIVE ( A SURPLUS1 A PR(IT8 ,COMM]CIAL R\T9E HAS GIV5 US ! IDEA ( PR(IT AS WELL AS ! WORD2 &1 S9CE WE >E EQUAL POLITICALLY1 WE 9F] ?AT EV]Y CITIZ5 HAS AN EQUAL RI<T TO REALIZE PR(ITS 9 HIS P]SONAL 9DU/RY4 ,BUT COMM]CIAL OP]ATIONS >E ESS5TIALLY IRREGUL>1 & IT HAS BE5 PROV$ BEYOND QUE/ION ?AT ! PR(ITS ( COMM]CE >E BUT AN >BITR>Y DISC\NT =C$ FROM ! CONSUM] BY ! PRODUC]1 -- 9 %ORT1 A DISPLACEM5T1 TO SAY ! LEA/4 ,?IS WE %\LD SOON SEE1 IF IT WAS POSSIBLE TO COMP>E ! TOTAL AM\NT ( ANNUAL LOSSES ) ! AM\NT ( PR(ITS4 ,9 ! ?\<T ( POLITICAL ECONOMY1 ! PR9CIPLE ?AT ALL LABOR %\LD LEAVE AN EXCESS IS SIMPLY ! CONSECRATION ( ! CON/ITUTIONAL RI<T :I* ALL ( US GA9$ BY ! REVOLUTION1 -- ! RI<T ( ROBB+ ONE'S NEI<BOR4  

,! LAW ( PROPORTIONALITY ( VALUES ALONE CAN SOLVE ?IS PROBLEM4 ,I WILL APPROA* ! QUE/ION A LITTLE F>!R BACK3 ITS GRAVITY W>RANTS ME 9 TREAT+ IT ) ! CONSID]ATION ?AT IT M]ITS4 

,MO/ PHILOSOPH]S1 LIKE MO/ PHILOLOGI/S1 SEE 9 SOCIETY ONLY A CREATURE ( ! M9D1 OR RA!R1 AN AB/RACT NAME S]V+ TO DESIGNATE A COLLECTION ( M54 ,IT IS A PREPOSSESSION :I* ALL ( US RECEIV$ 9 \R 9FANCY ) \R FIR/ LESSONS 9 GRAMM>1 ?AT COLLECTIVE N\NS1 ! NAMES ( G5]A & SPECIES1 DO NOT DESIGNATE REALITIES4 ,!RE IS MU* TO SAY UND] ?IS HEAD1 BUT ,I CONF9E MYSELF TO MY SUBJECT4 ,TO ! TRUE ECONOMI/1 SOCIETY IS A LIV+ BE+1 5D[$ ) AN 9TELLIG5CE & AN ACTIVITY ( ITS [N1 GOV]N$ BY SPECIAL LAWS DISCOV]ABLE BY OBS]VATION ALONE1 & :OSE EXI/5CE IS MANIFE/$1 NOT UND] A MAT]IAL ASPECT1 BUT BY ! CLOSE CONC]T & MUTUAL 9T]DEP5D5CE ( ALL ITS MEMB]S4 ,!RE=E1 :5 A FEW PAGES BACK1 ADOPT+ ! ALLEGORICAL ME?OD1 WE US$ A FABUL\S GOD AS A SYMBOL ( SOCIETY1 \R LANGUAGE 9 REALITY WAS NOT 9 ! LEA/ METAPHORICAL3 WE ONLY GAVE A NAME TO ! SOCIAL BE+1 AN ORGANIC & SYN!TIC UNIT4 ,9 ! EYES ( ANY ONE :O HAS REFLECT$ UPON ! LAWS ( LABOR & EX*ANGE 7,I DISREG>D EV]Y O!R CONSID]ATION71 ! REALITY1 ,I HAD ALMO/ SAID ! P]SONALITY1 ( ! COLLECTIVE MAN IS AS C]TA9 AS ! REALITY & ! P]SONALITY ( ! 9DIVIDUAL MAN4 ,! ONLY DIFF]5CE IS ?AT ! LATT] APPE>S TO ! S5SES AS AN ORGANISM :OSE P>TS >E 9 A /ATE ( MAT]IAL COH]5CE1 :I* IS NOT TRUE ( SOCIETY4 ,BUT 9TELLIG5CE1 SPONTANEITY1 DEVELOPM5T1 LIFE1 ALL ?AT CON/ITUTES 9 ! HI<E/ DEGREE ! REALITY ( BE+1 IS AS ESS5TIAL TO SOCIETY AS TO MAN3 & H5CE IT IS ?AT ! GOV]NM5T ( SOCIETIES IS A SCI5CE1 -- ?AT IS1 A /UDY ( NATURAL RELATIONS1 -- & NOT AN >T1 -- ?AT IS1 GOOD PLEASURE & ABSOLUTISM4 ,H5CE IT IS1 F9ALLY1 ?AT EV]Y SOCIETY DECL9ES ! MOM5T IT FALLS 9TO ! H&S ( ! IDEOLOGI/S4 

,! PR9CIPLE ?AT ALL LABOR %\LD LEAVE AN EXCESS1 UNDEMON/RABLE BY POLITICAL ECONOMY1 -- ?AT IS1 BY PROPRIET>Y R\T9E1 -- IS ONE ( ?OSE :I* BE> /RONGE/ TE/IMONY TO ! REALITY ( ! COLLECTIVE P]SON3 =1 AS WE %ALL SEE1 ?IS PR9CIPLE IS TRUE ( 9DIVIDUALS ONLY BECAUSE IT EMANATES FROM SOCIETY1 :I* ?US CONF]S UPON !M ! B5EFIT ( ITS [N LAWS4 

,LET US TURN TO FACTS4 ,IT HAS BE5 OBS]V$ ?AT RAILROAD 5T]PRISES >E A S\RCE ( WEAL? TO ?OSE :O CONTROL !M 9 A MU* LESS DEGREE ?AN TO ! ,/ATE4 ,! OBS]VATION IS A TRUE ONE2 & IT MI<T HAVE BE5 ADD$ ?AT IT APPLIES1 NOT ONLY TO RAILROADS1 BUT TO EV]Y 9DU/RY4 ,BUT ?IS PH5OM5ON1 :I* IS ESS5TIALLY ! RESULT ( ! LAW ( PROPORTIONALITY ( VALUES & ( ! ABSOLUTE ID5TITY ( PRODUCTION & CONSUMPTION1 IS AT V>IANCE ) ! ORD9>Y NOTION ( USEFUL VALUE & EX*ANGEABLE VALUE4 

,! AV]AGE PRICE *>G$ = ! TRANSPORTATION ( M]*&ISE BY ! OLD ME?OD IS EI<TE5 C5TIMES P] TON & KILOMET]1 ! M]*&ISE TAK5 & DELIV]$ AT ! W>EH\SES4 ,IT HAS BE5 CALCULAT$ ?AT1 AT ?IS PRICE1 AN ORD9>Y RAILROAD CORPORATION W\LD NET A PR(IT ( NOT QUITE T5 P]C5T1 NE>LY ! SAME AS ! PR(IT MADE BY ! OLD ME?OD4 ,BUT LET US ADMIT ?AT ! RAPIDITY ( TRANSPORTATION BY RAIL IS TO ?AT BY :EELS1 ALL ALL[ANCES MADE1 AS F\R TO ONE3 9 SOCIETY TIME ITSELF BE+ VALUE1 AT ! SAME PRICE ! RAILROAD W\LD HAVE AN ADVANTAGE OV] ! /AGE-WAGON ( F\R HUNDR$ P]C5T4 ,NEV]!LESS1 ?IS 5ORM\S ADVANTAGE1 A V]Y REAL ONE SO F> AS SOCIETY IS CONC]N$1 IS BY NO MEANS REALIZ$ 9 A LIKE PROPORTION BY ! C>RI]1 :O1 :ILE HE ADDS F\R HUNDR$ P]C5T TO ! SOCIAL VALUE1 MAKES P]SONALLY LESS ?AN T5 P]C5T4 ,SUPPOSE1 9 FACT1 TO MAKE ! ?+ /ILL CLE>]1 ?AT ! RAILROAD %\LD RAISE ITS PRICE TO TW5TY-FIVE C5TIMES1 ! RATE BY ! OLD ME?OD REMA9+ AT EI<TE52 IT W\LD LOSE IMM$IATELY ALL ITS CONSIGNM5TS2 %IPP]S1 CONSIGNEES1 EV]YBODY W\LD RETURN TO ! /AGE-WAGON1 IF NECESS>Y4 ,! LOCOMOTIVE W\LD BE AB&ON$2 A SOCIAL ADVANTAGE ( F\R HUNDR$ P]C5T W\LD BE SACRIFIC$ TO A PRIVATE LOSS ( ?IRTY-?REE P]C5T4 

,! REASON ( ?IS IS EASILY SE54 ,! ADVANTAGE :I* RESULTS FROM ! RAPIDITY ( ! RAILROAD IS :OLLY SOCIAL1 & EA* 9DIVIDUAL P>TICIPATES 9 IT ONLY 9 A V]Y SLI<T DEGREE 7DO NOT =GET ?AT WE >E SPEAK+ N[ ONLY ( ! TRANSPORTATION ( M]*&ISE72 :ILE ! LOSS FALLS DIRECTLY & P]SONALLY ON ! CONSUM]4 ,A SPECIAL PR(IT ( F\R HUNDR$ P]C5T 9 A SOCIETY COMPOS$ ( SAY A MILLION ( M5 REPRES5TS F\R T5-?\S&?S = EA* 9DIVIDUAL2 :ILE A LOSS TO ! CONSUM] ( ?IRTY-?REE P]C5T MEANS A SOCIAL DEFICIT ( ?IRTY-?REE MILLIONS4 ,PRIVATE 9T]E/ & COLLECTIVE 9T]E/1 SEEM+LY SO DIV]G5T AT FIR/ BLU%1 >E !RE=E P]FECTLY ID5TICAL & EQUAL3 & ?IS EXAMPLE MAY S]VE TO %[ ALREADY H[ ECONOMIC SCI5CE RECONCILES ALL 9T]E/S4 

,CONSEQU5TLY1 9 ORD] ?AT SOCIETY MAY REALIZE ! PR(IT ABOVE SUPPOS$1 IT IS ABSOLUTELY NECESS>Y ?AT ! RAILROAD'S PRICES %ALL NOT EXCE$1 OR %ALL EXCE$ BUT V]Y LITTLE1 ?OSE ( ! /AGE-WAGON4 

,BUT1 ?AT ?IS CONDITION MAY BE FULFILL$1 -- 9 O!R WORDS1 ?AT ! RAILROAD MAY BE COMM]CIALLY POSSIBLE1 -- ! AM\NT ( MATT] TRANSPORT$ MU/ BE SUFFICI5TLY GREAT TO COV] AT LEA/ ! 9T]E/ ON ! CAPITAL 9VE/$ & ! RUNN+ EXP5SES ( ! ROAD4 ,!N A RAILROAD'S FIR/ CONDITION ( EXI/5CE IS A L>GE CIRCULATION1 :I* IMPLIES A /ILL L>G] PRODUCTION & A VA/ AM\NT ( EX*ANGES4 

,BUT PRODUCTION1 CIRCULATION1 & EX*ANGE >E NOT SELF-CREATIVE ?+S2 AGA91 ! V>I\S K9DS ( LABOR >E NOT DEVELOP$ 9 ISOLATION & 9DEP5D5TLY ( EA* O!R3 !IR PROGRESS IS NECESS>ILY CONNECT$1 SOLID>Y1 PROPORTIONAL4 ,!RE MAY BE ANTAGONISM AMONG MANUFACTUR]S2 BUT1 9 SPITE ( !M1 SOCIAL ACTION IS ONE1 CONV]G5T1 H>MONI\S1 -- 9 A WORD1 P]SONAL4 ,FUR!R1 !RE IS A DAY APPO9T$ = ! CREATION ( GREAT 9/RUM5TS ( LABOR3 IT IS ! DAY :5 G5]AL CONSUMPTION %ALL BE ABLE TO MA9TA9 !IR EMPLOYM5T1 -- ?AT IS1 = ALL !SE PROPOSITIONS >E 9T]CONV]TIBLE1 ! DAY :5 AMBI5T LABOR CAN FE$ NEW MA*9]Y4 ,TO ANTICIPATE ! H\R APPO9T$ BY ! PROGRESS ( LABOR W\LD BE TO IMITATE ! FOOL :O1 GO+ FROM ,LYONS TO ,M>SEILLES1 *>T]$ A /EAM] = HIMSELF ALONE4 

,!SE PO9TS CLE>$ UP1 NO?+ IS EASI] ?AN TO EXPLA9 :Y LABOR MU/ LEAVE AN EXCESS = EA* PRODUC]4 

,& FIR/1 AS REG>DS SOCIETY3 ,PROME!US1 EM]G+ FROM ! WOMB ( ,NATURE1 AWAK5S TO LIFE 9 A /ATE ( 9]TIA :I* IS V]Y *>M+1 BUT :I* W\LD SOON BECOME MIS]Y & TORTURE IF HE DID NOT MAKE HA/E TO AB&ON IT = LABOR4 ,9 ?IS ORIG9AL IDL5ESS1 ! PRODUCT ( ,PROME!US BE+ NO?+1 HIS WELL-BE+ IS ! SAME AS ?AT ( ! BRUTE1 & MAY BE REPRES5T$ BY Z]O4 

,PROME!US BEG9S TO WORK3 & FROM HIS FIR/ DAY'S LABOR1 ! FIR/ ( ! SECOND CREATION1 ! PRODUCT ( ,PROME!US -- ?AT IS1 HIS WEAL?1 HIS WELL-BE+ -- IS EQUAL TO T54 

,! SECOND DAY ,PROME!US DIVIDES HIS LABOR1 & HIS PRODUCT 9CREASES TO ONE HUNDR$4 

,! ?IRD DAY1 & EA* FOLL[+ DAY1 ,PROME!US 9V5TS MA*9]Y1 DISCOV]S NEW USES 9 ?+S1 NEW =CES 9 ,NATURE2 ! FIELD ( HIS EXI/5CE EXT5DS FROM ! DOMA9 ( ! S5SES TO ! SPH]E ( MORALS & 9TELLIG5CE1 & ) EV]Y /EP ?AT HIS 9DU/RY TAKES ! AM\NT ( HIS PRODUCT 9CREASES1 & ASSURES HIM ADDITIONAL HAPP9ESS4 ,& S9CE1 F9ALLY1 ) HIM1 TO CONSUME IS TO PRODUCE1 IT IS CLE> ?AT EA* DAY'S CONSUMPTION1 US+ UP ONLY ! PRODUCT ( ! DAY BE=E1 LEAVES A SURPLUS PRODUCT = ! DAY AFT]4 

,BUT NOTICE ALSO -- & GIVE ESPECIAL HE$ TO ?IS ALL-IMPORTANT FACT -- ?AT ! WELL-BE+ ( MAN IS DIRECTLY PROPORTIONAL TO ! 9T5SITY ( LABOR & ! MULTIPLICITY ( 9DU/RIES3 SO ?AT ! 9CREASE ( WEAL? & ! 9CREASE ( LABOR >E CORRELATIVE & P>ALLEL4 

,TO SAY N[ ?AT EV]Y 9DIVIDUAL P>TICIPATES 9 !SE G5]AL CONDITIONS ( COLLECTIVE DEVELOPM5T W\LD BE TO AFFIRM A TRU? :I*1 BY REASON ( ! EVID5CE 9 ITS SUPPORT1 W\LD APPE> SILLY4 ,LET US PO9T \T RA!R ! TWO G5]AL =MS ( CONSUMPTION 9 SOCIETY4 

,SOCIETY1 LIKE ! 9DIVIDUAL1 HAS FIR/ ITS >TICLES ( P]SONAL CONSUMPTION1 >TICLES :I* TIME GRADUALLY CAUSES IT TO FEEL ! NE$ (1 & :I* ITS MY/]I\S 9/9CTS COMM& IT TO CREATE4 ,?US 9 ! MIDDLE AGES !RE WAS1 ) A L>GE NUMB] ( CITIES1 A DECISIVE MOM5T :5 ! BUILD+ ( CITY HALLS & CA!DRALS BECAME A VIOL5T PASSION1 :I* HAD TO BE SATISFI$ AT ANY PRICE2 ! LIFE ( ! COMMUNITY DEP5D$ UPON IT4 ,SECURITY & /R5G?1 PUBLIC ORD]1 C5TRALIZATION1 NATIONALITY1 C\NTRY1 9DEP5D5CE1 !SE >E ! ELEM5TS :I* MAKE UP ! LIFE ( SOCIETY1 ! TOTALITY ( ITS M5TAL FACULTIES2 !SE >E ! S5TIM5TS :I* MU/ F9D EXPRESSION & REPRES5TATION4 ,SU* =M]LY WAS ! OBJECT ( ! TEMPLE ( ,J]USALEM1 REAL PALLADIUM ( ! ,JEWI% NATION2 SU* WAS ! TEMPLE ( ,JUPIT] ,CAPITOL9US ( ,ROME4 ,LAT]1 AFT] ! MUNICIPAL PALACE & ! TEMPLE1 -- ORGANS1 SO TO SPEAK1 ( C5TRALIZATION & PROGRESS1 -- CAME ! O!R WORKS ( PUBLIC UTILITY1 -- BRIDGES1 !AT]S1 S*OOLS1 HOSPITALS1 ROADS1 ETC4 

,! MONUM5TS ( PUBLIC UTILITY BE+ US$ ESS5TIALLY 9 COMMON1 & CONSEQU5TLY GRATUIT\SLY1 SOCIETY IS REW>D$ = ITS ADVANCES BY ! POLITICAL & MORAL ADVANTAGES RESULT+ FROM !SE GREAT WORKS1 & :I*1 FURNI%+ SECURITY TO LABOR & AN IDEAL TO ! M9D1 GIVE FRE% IMPETUS TO 9DU/RY & ! >TS4 

,BUT IT IS DIFF]5T ) ! >TICLES ( DOME/IC CONSUMPTION1 :I* ALONE FALL )9 ! CATEGORY ( EX*ANGE4 ,!SE CAN BE PRODUC$ ONLY UPON ! CONDITIONS ( MUTUALITY :I* MAKE CONSUMPTION POSSIBLE1 -- ?AT IS1 IMM$IATE PAYM5T ) ADVANTAGE TO ! PRODUC]S4 ,!SE CONDITIONS WE HAVE DEVELOP$ SUFFICI5TLY 9 ! !ORY ( PROPORTIONALITY ( VALUES1 :I* WE MI<T CALL AS WELL ! !ORY ( ! GRADUAL R$UCTION ( CO/4 

,I HAVE DEMON/RAT$ !ORETICALLY & BY FACTS ! PR9CIPLE ?AT ALL LABOR %\LD LEAVE AN EXCESS2 BUT ?IS PR9CIPLE1 AS C]TA9 AS ANY PROPOSITION 9 >I?METIC1 IS V]Y F> FROM UNIV]SAL REALIZATION4 ,:ILE1 BY ! PROGRESS ( COLLECTIVE 9DU/RY1 EA* 9DIVIDUAL DAY'S LABOR YIELDS A GREAT] & GREAT] PRODUCT1 & :ILE1 BY NECESS>Y CONSEQU5CE1 ! LABOR]1 RECEIV+ ! SAME WAGES1 MU/ GR[ EV] RI*]1 !RE EXI/ 9 SOCIETY CLASSES :I* ?RIVE & CLASSES :I* P]I%2 LABOR]S PAID TWICE1 ?RICE1 A HUNDR$ TIMES OV]1 & LABOR]S CONT9UALLY \T ( POCKET2 EV]Y:]E1 F9ALLY1 PEOPLE :O 5JOY & PEOPLE :O SUFF]1 &1 BY A MON/R\S DIVISION ( ! MEANS ( 9DU/RY1 9DIVIDUALS :O CONSUME & DO NOT PRODUCE4 ,! DI/RIBUTION ( WELL-BE+ FOLL[S ALL ! MOVEM5TS ( VALUE1 & REPRODUCES !M 9 MIS]Y & LUXURY ON A FRI<TFUL SCALE & ) T]RIBLE 5]GY4 ,BUT EV]Y:]E1 TOO1 ! PROGRESS ( WEAL? -- ?AT IS1 ! PROPORTIONALITY ( VALUES -- IS ! DOM9ANT LAW2 & :5 ! ECONOMI/S COMBAT ! COMPLA9TS ( ! SOCIALI/S ) ! PROGRESSIVE 9CREASE ( PUBLIC WEAL? & ! ALLEVIATIONS ( ! CONDITION ( EV5 ! MO/ UN=TUNATE CLASSES1 !Y PROCLAIM1 )\T SUSPECT+ IT1 A TRU? :I* IS ! CONDEMNATION ( !IR !ORIES4 

,= ,I 5TREAT ! ECONOMI/S TO QUE/ION !MSELVES = A MOM5T 9 ! SIL5CE ( !IR HE>TS1 F> FROM ! PREJUDICES :I* DI/URB !M1 & REG>DLESS ( ! EMPLOYM5TS :I* OCCUPY !M OR :I* !Y WAIT =1 ( ! 9T]E/S :I* !Y S]VE1 ( ! VOTES :I* !Y COVET1 ( ! DI/9CTIONS :I* TICKLE !IR VANITY3 LET !M TELL ME :E!R1 HI!RTO1 !Y HAVE VIEW$ ! PR9CIPLE ?AT ALL LABOR %\LD LEAVE AN EXCESS 9 CONNECTION ) ?IS S]IES ( PREMISES & CONCLUSIONS :I* WE HAVE ELABORAT$1 & :E!R !Y EV] HAVE UND]/OOD !SE WORDS TO MEAN ANY?+ MORE ?AN ! RI<T TO SPECULATE 9 VALUES BY MANIPULAT+ SUPPLY & DEM&2 :E!R IT IS NOT TRUE ?AT !Y AFFIRM AT ONCE1 ON ! ONE H& ! PROGRESS ( WEAL? & WELL-BE+1 & CONSEQU5TLY ! MEASURE ( VALUES1 & ON ! O!R ! >BITR>9ESS ( COMM]CIAL TRANSACTIONS & ! 9COMM5SURABILITY ( VALUES1 -- ! FLATTE/ ( CONTRADICTIONS8 ,IS IT NOT BECAUSE ( ?IS CONTRADICTION ?AT WE CONT9UALLY HE> REPEAT$ 9 LECTURES1 & READ 9 ! WORKS ON POLITICAL ECONOMY1 ?IS ABSURD HYPO!SIS3 ,IF ! PRICE ( ,A,L,L ?+S WAS D\BL$4 4 4 4 4 4 8 ,AS IF ! PRICE ( ALL ?+S WAS NOT ! PROPORTION ( ?+S1 & AS IF WE C\LD D\BLE A PROPORTION1 A RELATION1 A LAW6 ,F9ALLY1 IS IT NOT BECAUSE ( ! PROPRIET>Y & ABNORMAL R\T9E UPHELD BY POLITICAL ECONOMY ?AT EV]Y ONE1 9 COMM]CE1 9DU/RY1 ! >TS1 & ! ,/ATE1 ON ! PRET5D$ GR\ND ( S]VICES R5D]$ TO SOCIETY1 T5DS CONT9UALLY TO EXAGG]ATE HIS IMPORTANCE1 & SOLICITS REW>DS1 SUBSIDIES1 L>GE P5SIONS1 EXORBITANT FEES3 AS IF ! REW>D ( EV]Y S]VICE WAS NOT DET]M9$ NECESS>ILY BY ! SUM ( ITS EXP5SES8 ,:Y DO NOT ! ECONOMI/S1 IF !Y BELIEVE1 AS !Y APPE> TO1 ?AT ! LABOR ( EA* %\LD LEAVE AN EXCESS1 USE ALL !IR 9FLU5CE 9 SPREAD+ ?IS TRU?1 SO SIMPLE & SO LUM9\S3 ,EA* MAN'S LABOR CAN BUY ONLY ! VALUE :I* IT CONTA9S1 & ?IS VALUE IS PROPORTIONAL TO ! S]VICES ( ALL O!R LABOR]S8 

,BUT H]E A LA/ CONSID]ATION PRES5TS ITSELF1 :I* ,I WILL EXPLA9 9 A FEW WORDS4 

,J4 ,B4 ,SAY1 :O ( ALL ! ECONOMI/S HAS 9SI/$ ! MO/ /R5U\SLY UPON ! ABSOLUTE 9DET]M9ABILITY ( VALUE1 IS ALSO ! ONE :O HAS TAK5 ! MO/ PA9S TO REFUTE ?AT IDEA4 ,HE1 IF ,I AM NOT MI/AK51 IS ! AU?OR ( ! =MULA3 ,EV]Y PRODUCT IS WOR? :AT IT CO/S2 OR1 :AT AM\NTS TO ! SAME ?+3 ,PRODUCTS >E B\<T ) PRODUCTS4 ,?IS APHORISM1 :I* LEADS /RAI<T TO EQUALITY1 HAS BE5 CONTROV]T$ S9CE BY O!R ECONOMI/S2 WE WILL EXAM9E 9 TURN ! AFFIRMATIVE & ! NEGATIVE4 

,:5 ,I SAY ?AT EV]Y PRODUCT IS WOR? ! PRODUCTS :I* IT HAS CO/1 ,I MEAN ?AT EV]Y PRODUCT IS A COLLECTIVE UNIT :I*1 9 A NEW =M1 GR\PS A C]TA9 NUMB] ( O!R PRODUCTS CONSUM$ 9 V>I\S QUANTITIES4 ,:5CE IT FOLL[S ?AT ! PRODUCTS ( HUMAN 9DU/RY >E1 9 RELATION TO EA* O!R1 G5]A & SPECIES1 & ?AT !Y =M A S]IES FROM ! SIMPLE TO ! COMPOSITE1 ACCORD+ TO ! NUMB] & PROPORTION ( ! ELEM5TS1 ALL EQUIVAL5T TO EA* O!R1 :I* CON/ITUTE EA* PRODUCT4 ,IT MATT]S LITTLE1 = ! PRES5T1 ?AT ?IS S]IES1 AS WELL AS ! EQUIVAL5CE ( ITS ELEM5TS1 IS EXPRESS$ 9 PRACTICE MORE OR LESS EXACTLY BY ! EQUILIBRIUM ( WAGES & =TUNES2 \R FIR/ BUS9ESS IS ) ! RELATION ( ?+S1 ! ECONOMIC LAW4 ,= H]E1 AS EV]1 ! IDEA FIR/ & SPONTANE\SLY G5]ATES ! FACT1 :I*1 RECOGNIZ$ !N BY ! ?\<T :I* HAS GIV5 IT BIR?1 GRADUALLY RECTIFIES ITSELF & CON=MS TO ITS PR9CIPLE4 ,COMM]CE1 FREE & COMPETITIVE1 IS BUT A LONG OP]ATION ( R$RESSAL1 :OSE OBJECT IS TO DEF9E MORE & MORE CLE>LY ! PROPORTIONALITY ( VALUES1 UNTIL ! CIVIL LAW %ALL RECOGNIZE IT AS A GUIDE 9 MATT]S CONC]N+ ! CONDITION ( P]SONS4 ,I SAY1 !N1 ?AT ,SAY'S PR9CIPLE1 ,EV]Y PRODUCT IS WOR? :AT IT CO/S1 9DICATES A S]IES 9 HUMAN PRODUCTION ANALOG\S TO ! ANIMAL & VEGETABLE S]IES1 9 :I* ! ELEM5T>Y UNITS 7DAY'S WORKS7 >E REG>D$ AS EQUAL4 ,SO ?AT POLITICAL ECONOMY AFFIRMS AT ITS BIR?1 BUT BY A CONTRADICTION1 :AT NEI!R ,PLATO1 NOR ,R\SSEAU1 NOR ANY ANCI5T OR MOD]N PUBLICI/ HAS ?\<T POSSIBLE1 -- EQUALITY ( CONDITIONS & =TUNES4 

,PROME!US IS BY TURNS HUSB&MAN1 W9E-GR[]1 BAK]1 WEAV]4 ,:ATEV] TRADE HE WORKS AT1 LABOR+ ONLY = HIMSELF1 HE BUYS :AT HE CONSUMES 7HIS PRODUCTS7 ) ONE & ! SAME MONEY 7HIS PRODUCTS71 :OSE UNIT ( MEASUREM5T IS NECESS>ILY HIS DAY'S WORK4 ,IT IS TRUE ?AT LABOR ITSELF IS LIABLE TO V>Y2 ,PROME!US IS NOT ALWAYS 9 ! SAME CONDITION1 & FROM ONE MOM5T TO ANO!R HIS 5?USIASM1 HIS FRUITFULNESS1 RISES & FALLS4 ,BUT1 LIKE EV]Y?+ ?AT IS SUBJECT TO V>IATION1 LABOR HAS ITS AV]AGE1 :I* JU/IFIES US 9 SAY+ ?AT1 ON ! :OLE1 DAY'S WORK PAYS = DAY'S WORK1 NEI!R MORE NOR LESS4 ,IT IS QUITE TRUE ?AT1 IF WE COMP>E ! PRODUCTS ( A C]TA9 P]IOD ( SOCIAL LIFE ) ?OSE ( ANO!R1 ! HUNDR$ MILLION? DAY'S WORK ( ! HUMAN RACE WILL %[ A RESULT 9COMP>ABLY SUP]IOR TO ?AT ( ! FIR/2 BUT IT MU/ BE REMEMB]$ ALSO ?AT ! LIFE ( ! COLLECTIVE BE+ CAN NO MORE BE DIVID$ ?AN ?AT ( ! 9DIVIDUAL2 ?AT1 ?\< ! DAYS MAY NOT RESEMBLE EA* O!R1 !Y >E 9DISSOLUBLY UNIT$1 & ?AT 9 ! SUM TOTAL ( EXI/5CE PA9 & PLEASURE >E COMMON TO !M4 ,IF1 !N1 ! TAILOR1 = R5D]+ ! VALUE ( A DAY'S WORK1 CONSUMES T5 TIMES ! PRODUCT ( ! DAY'S WORK ( ! WEAV]1 IT IS AS IF ! WEAV] GAVE T5 DAYS ( HIS LIFE = ONE DAY ( ! TAILOR'S4 ,?IS IS EXACTLY :AT HAPP5S :5 A PEASANT PAYS TWELVE FRANCS TO A LAWY] = A DOCUM5T :I* IT TAKES HIM AN H\R TO PREP>E2 & ?IS 9EQUALITY1 ?IS 9IQUITY 9 EX*ANGES1 IS ! MO/ POT5T CAUSE ( MIS]Y ?AT ! SOCIALI/S HAVE UNVEIL$1 -- AS ! ECONOMI/S CONFESS 9 SECRET :ILE AWAIT+ A SIGN FROM ! MA/] ?AT %ALL P]MIT !M TO ACKN[L$GE IT OP5LY4 

,EV]Y ]ROR 9 COMMUTATIVE JU/ICE IS AN IMMOLATION ( ! LABOR]1 A TRANSFUSION ( ! BLOOD ( ONE MAN 9TO ! BODY ( ANO!R4 4 4 4 4 ,LET NO ONE BE FRI<T5$2 ,I HAVE NO 9T5TION ( FULM9AT+ AGA9/ PROP]TY AN IRRITAT+ PHILIPPIC2 ESPECIALLY AS ,I ?9K ?AT1 ACCORD+ TO MY PR9CIPLES1 HUMANITY IS NEV] MI/AK52 ?AT1 9 E/ABLI%+ ITSELF AT FIR/ UPON ! RI<T ( PROP]TY1 IT ONLY LAID D[N ONE ( ! PR9CIPLES ( ITS FUTURE ORGANIZATION2 & ?AT1 ! PRE-POND]ANCE ( PROP]TY ONCE DE/ROY$1 IT REMA9S ONLY TO R$UCE ?IS FAM\S ANTI!SIS TO UNITY4 ,ALL ! OBJECTIONS ?AT CAN BE (F]$ 9 FAVOR ( PROP]TY ,I AM AS WELL ACQUA9T$ ) AS ANY ( MY CRITICS1 :OM ,I ASK AS A FAVOR TO %[ !IR HE>TS :5 LOGIC FAILS !M4 ,H[ CAN WEAL? ?AT IS NOT MEASUR$ BY LABOR BE VALUABLE8 ,& IF IT IS LABOR ?AT CREATES WEAL? & LEGITIMATES PROP]TY1 H[ EXPLA9 ! CONSUMPTION ( ! IDL]8 ,:]E IS ! HONE/Y 9 A SY/EM ( DI/RIBUTION 9 :I* A PRODUCT IS WOR?1 ACCORD+ TO ! P]SON1 N[ MORE1 N[ LESS1 ?AN IT CO/S4 

,SAY'S IDEAS L$ TO AN AGR>IAN LAW2 !RE=E1 ! CONS]VATIVE P>TY HA/5$ TO PROTE/ AGA9/ !M4 0,! ORIG9AL S\RCE ( WEAL?10 ,M4 ,ROSSI HAD SAID1 0IS LABOR4 ,9 PROCLAIM+ ?IS GREAT PR9CIPLE1 ! 9DU/RIAL S*OOL HAS PLAC$ 9 EVID5CE NOT ONLY AN ECONOMIC PR9CIPLE1 BUT ?AT SOCIAL FACT :I*1 9 ! H&S ( A SKILLFUL HI/ORIAN1 BECOMES ! SURE/ GUIDE 9 FOLL[+ ! HUMAN RACE 9 ITS M>*+S & HALT+S UPON ! FACE ( ! E>?40 

,:Y1 AFT] HAV+ UTT]$ !SE PR(\ND WORDS 9 HIS LECTURES1 HAS ,M4 ,ROSSI ?\<T IT HIS DUTY TO RETRACT !M AFT]W>DS 9 A REVIEW1 & TO COMPROMISE GRATUIT\SLY HIS DIGNITY AS A PHILOSOPH] & AN ECONOMI/8 

0,SAY ?AT WEAL? IS ! RESULT ( LABOR ALONE2 AFFIRM ?AT LABOR IS ALWAYS ! MEASURE ( VALUE1 ! REGULATOR ( PRICES2 YET1 TO ESCAPE ONE WAY OR ANO!R ! OBJECTIONS :I* !SE DOCTR9ES CALL =? ON ALL H&S1 SOME 9COMPLETE1 O!RS ABSOLUTE1 Y\ WILL BE OBLIG$ TO G5]ALIZE ! IDEA ( LABOR1 & TO SUB/ITUTE = ANALYSIS AN UTT]LY ]RONE\S SYN!SIS40 

,I REGRET ?AT A MAN LIKE ,M4 ,ROSSI %\LD SUGGE/ TO ME SO SAD A ?\<T2 BUT1 :ILE READ+ ! PASSAGE ?AT ,I HAVE JU/ QUOT$1 ,I C\LD NOT HELP SAY+3 ,SCI5CE & TRU? HAVE LO/ !IR 9FLU5CE3 ! PRES5T OBJECT ( WOR%IP IS ! %OP1 &1 AFT] ! %OP1 ! DESP]ATE CON/ITUTIONALISM :I* REPRES5TS IT4 ,TO :OM1 !N1 DOES ,M4 ,ROSSI ADDRESS HIMSELF8 ,IS HE 9 FAVOR ( LABOR OR SOME?+ ELSE2 ANALYSIS OR SYN!SIS8 ,IS HE 9 FAVOR ( ALL !SE ?+S AT ONCE8 ,LET HIM *OOSE1 = ! CONCLUSION IS 9EVITABLY AGA9/ HIM4 

,IF LABOR IS ! S\RCE ( ALL WEAL?1 IF IT IS ! SURE/ GUIDE 9 TRAC+ ! HI/ORY ( HUMAN 9/ITUTIONS ON ! FACE ( ! E>?1 :Y %\LD EQUALITY ( DI/RIBUTION1 EQUALITY AS MEASUR$ BY LABOR1 NOT BE A LAW8 

,IF1 ON ! CONTR>Y1 !RE IS WEAL? :I* IS NOT ! PRODUCT ( LABOR1 :Y IS ! POSSESSION ( IT A PRIVILEGE8 ,:]E IS ! LEGITIMACY ( MONOPOLY8 ,EXPLA9 !N1 ONCE = ALL1 ?IS !ORY ( ! RI<T ( UNPRODUCTIVE CONSUMPTION2 ?IS JURISPRUD5CE ( CAPRICE1 ?IS RELIGION ( IDL5ESS1 ! SACR$ PR]OGATIVE ( A CA/E ( ! ELECT4 

,:AT1 N[1 IS ! SIGNIFICANCE ( ?IS APPEAL FROM ANALYSIS TO ! FALSE JUDGM5TS ( ! SYN!SIS8 ,!SE METAPHYSICAL T]MS >E ( NO USE1 SAVE TO 9DOCTR9ATE SIMPLETONS1 :O DO NOT SUSPECT ?AT ! SAME PROPOSITION CAN BE CON/RU$1 9DIFF]5TLY & AT WILL1 ANALYTICALLY OR SYN!TICALLY4 ,LABOR IS ! PR9CIPLE ( VALUE 5D ! S\RCE ( WEAL?3 AN ANALYTIC PROPOSITION SU* AS ,M4 ,ROSSI LIKES1 S9CE IT IS ! SUMM>Y ( AN ANALYSIS 9 :I* IT IS DEMON/RAT$ ?AT ! PRIMITIVE NOTION ( LABOR IS ID5TICAL ) ! SUBSEQU5T NOTIONS ( PRODUCT1 VALUE1 CAPITAL1 WEAL?1 ETC4 ,NEV]!LESS1 WE SEE ?AT ,M4 ,ROSSI REJECTS ! DOCTR9E :I* RESULTS FROM ?IS ANALYSIS4 ,LABOR1 CAPITAL1 & L& >E ! S\RCES ( WEAL?3 A SYN!TIC PROPOSITION1 PRECISELY SU* AS ,M4 ,ROSSI DOES NOT LIKE4 ,9DE$1 WEAL? IS CONSID]$ H]E AS A G5]AL NOTION1 PRODUC$ 9 ?REE DI/9CT1 BUT NOT ID5TICAL1 WAYS4 ,& YET ! DOCTR9E ?US =MULAT$ IS ! ONE ?AT ,M4 ,ROSSI PREF]S4 ,N[1 W\LD IT PLEASE ,M4 ,ROSSI TO HAVE US R5D] HIS !ORY ( MONOPOLY ANALYTICALLY & \RS ( LABOR SYN!TICALLY8 ,I CAN GIVE HIM ! SATISFACTION4 4 4 4 4 ,BUT ,I %\LD BLU%1 ) SO E>NE/ A MAN1 TO PROLONG SU* BAD9AGE4 ,M4 ,ROSSI KN[S BETT] ?AN ANY ONE ?AT ANALYSIS & SYN!SIS ( !MSELVES PROVE ABSOLUTELY NO?+1 & ?AT ! IMPORTANT WORK1 AS ,BACON SAID1 IS TO MAKE EXACT COMP>ISONS & COMPLETE 5UM]ATIONS4 

,S9CE ,M4 ,ROSSI WAS 9 ! HUMOR = AB/RACTIONS1 :Y DID HE NOT SAY TO ! PHALANX ( ECONOMI/S :O LI/5 SO RESPECTFULLY TO ! LEA/ WORD ?AT FALLS FROM HIS LIPS3 

0,CAPITAL IS ! MAT]IAL ( WEAL?1 AS GOLD & SILV] >E ! MAT]IAL ( MONEY1 AS :EAT IS ! MAT]IAL ( BREAD1 &1 TRAC+ ! S]IES BACK TO ! 5D1 AS E>?1 WAT]1 FIRE1 & AIR >E ! MAT]IAL ( ALL \R PRODUCTS4 ,BUT IT IS LABOR1 LABOR ALONE1 :I* SUCCESSIVELY CREATES EA* UTILITY GIV5 TO !SE MAT]IALS1 & :I* CONSEQU5TLY TRANS=MS !M 9TO CAPITAL & WEAL?4 ,CAPITAL IS ! RESULT ( LABOR1 -- ?AT IS1 REALIZ$ 9TELLIG5CE & LIFE1 -- AS ANIMALS & PLANTS >E REALIZATIONS ( ! S\L ( ! UNIV]SE1 & AS ! *EFS D'OEUVRE ( ,HOM]1 ,RAPHAEL1 & ,ROSS9I >E EXPRESSIONS ( !IR IDEAS & S5TIM5TS4 ,VALUE IS ! PROPORTION 9 :I* ALL ! REALIZATIONS ( ! HUMAN S\L MU/ BALANCE EA* O!R 9 ORD] TO PRODUCE A H>MONI\S :OLE1 :I*1 BE+ WEAL?1 GIVES US WELL-BE+1 OR RA!R IS ! TOK51 NOT ! OBJECT1 ( \R HAPP9ESS4 

0,! PROPOSITION1 !RE IS NO MEASURE ( VALUE1 IS ILLOGICAL & CONTRADICTORY1 AS IS %[N BY ! V]Y >GUM5TS :I* HAVE BE5 (F]$ 9 ITS SUPPORT4 

0,! PROPOSITION1 LABOR IS ! PR9CIPLE ( PROPORTIONALITY ( VALUES1 NOT ONLY IS TRUE1 RESULT+ AS IT DOES FROM AN IRREFUTABLE ANALYSIS1 BUT IT IS ! OBJECT ( PROGRESS1 ! CONDITION & =M ( SOCIAL WELL-BE+1 ! BEG9N+ & 5D ( POLITICAL ECONOMY4 ,FROM ?IS PROPOSITION & ITS COROLL>IES1 EV]Y PRODUCT IS WOR? :AT IT CO/S1 & PRODUCTS >E B\<T ) PRODUCTS1 FOLL[S ! DOGMA ( EQUALITY ( CONDITIONS4 

0,! IDEA ( VALUE SOCIALLY CON/ITUT$1 OR ( PROPORTIONALITY ( VALUES1 S]VES TO EXPLA9 FUR!R3 7A7 H[ A ME*ANICAL 9V5TION1 NOT)/&+ ! PRIVILEGE :I* IT TEMPOR>ILY CREATES & ! DI/URBANCES :I* IT OCCASIONS1 ALWAYS PRODUCES 9 ! 5D A G5]AL AMELIORATION2 7B7 H[ ! VALUE ( AN ECONOMICAL PROCESS TO ITS DISCOV]] CAN NEV] EQUAL ! PR(IT :I* IT REALIZES = SOCIETY2 7C7 H[1 BY A S]IES ( OSCILLATIONS BETWE5 SUPPLY & DEM&1 ! VALUE ( EV]Y PRODUCT CON/ANTLY SEEKS A LEVEL ) CO/ & ) ! NE$S ( CONSUMPTION1 & CONSEQU5TLY T5DS TO E/ABLI% ITSELF 9 A FIX$ & POSITIVE MANN]2 7D7 H[1 COLLECTIVE PRODUCTION CONT9UALLY 9CREAS+ ! AM\NT ( CONSUMABLE ?+S1 & ! DAY'S WORK CON/ANTLY OBTA9+ HI<] & HI<] PAY1 LABOR MU/ LEAVE AN EXCESS = EA* PRODUC]2 7E7 H[ ! AM\NT ( WORK TO BE DONE1 9/EAD ( BE+ DIM9I%$ BY 9DU/RIAL PROGRESS1 EV] 9CREASES 9 BO? QUANTITY & QUALITY -- ?AT IS1 9 9T5SITY & DIFFICULTY -- 9 ALL BRAN*ES ( 9DU/RY2 7F7 H[ SOCIAL VALUE CONT9UALLY ELIM9ATES FICTITI\S VALUES1 -- 9 O!R WORDS1 H[ 9DU/RY EFFECTS ! SOCIALIZATION ( CAPITAL & PROP]TY2 7G7 F9ALLY1 H[ ! DI/RIBUTION ( PRODUCTS1 GR[+ 9 REGUL>ITY ) ! /R5G? ( ! MUTUAL GU>ANTEE RESULT+ FROM ! CON/ITUTION ( VALUE1 PU%ES SOCIETY ONW>D TO EQUALITY ( CONDITIONS & =TUNES4 

0,F9ALLY1 ! !ORY ( ! SUCCESSIVE CON/ITUTION ( ALL COMM]CIAL VALUES IMPLY+ ! 9F9ITE PROGRESS ( LABOR1 WEAL?1 & WELL-BE+1 ! OBJECT ( SOCIETY1 FROM ! ECONOMIC PO9T ( VIEW1 IS REVEAL$ TO US3 ,TO PRODUCE 9CESSANTLY1 ) !E LEA/ POSSIBLE AM\NT ( LABOR = EA* PRODUCT1 ! GREATE/ POSSIBLE QUANTITY & V>IETY ( VALUES1 9 SU* A WAY AS TO REALIZE1 = EA* 9DIVIDUAL1 ! GREATE/ AM\NT ( PHYSICAL1 MORAL1 & 9TELLECTUAL WELL-BE+1 &1 = ! RACE1 ! HI<E/ P]FECTION & 9F9ITE GLORY4 

,N[ ?AT WE HAVE DET]M9$1 NOT )\T DIFFICULTY1 ! MEAN+ ( ! QUE/ION ASK$ BY ! ,ACADEMY ( ,MORAL ,SCI5CES T\*+ ! OSCILLATIONS ( PR(IT & WAGES1 IT IS TIME TO BEG9 ! ESS5TIAL P>T ( \R WORK4 ,:]EV] LABOR HAS NOT BE5 SOCIALIZ$1 -- ?AT IS1 :]EV] VALUE IS NOT SYN!TICALLY DET]M9$1 -- !RE IS IRREGUL>ITY & DI%ONE/Y 9 EX*ANGE2 A W> ( /RATAGEMS & AMBUSCADES2 AN IMP$IM5T TO PRODUCTION1 CIRCULATION1 & CONSUMPTION2 UNPRODUCTIVE LABOR2 9SECURITY2 SPOLIATION2 9SOLID>ITY2 WANT2 LUXURY3 BUT AT ! SAME TIME AN EF=T ( ! G5IUS ( SOCIETY TO OBTA9 JU/ICE1 & A CON/ANT T5D5CY T[>D ASSOCIATION & ORD]4 ,POLITICAL ECONOMY IS SIMPLY ! HI/ORY ( ?IS GR& /RUGGLE4 ,ON ! ONE H&1 9DE$1 POLITICAL ECONOMY1 9 SO F> AS IT SANCTIONS & PRET5DS TO P]PETUATE ! ANOMALIES ( VALUE & ! PR]OGATIVES ( SELFI%NESS1 IS TRULY ! !ORY ( MIS=TUNE & ! ORGANIZATION ( MIS]Y2 BUT 9 SO F> AS IT EXPLA9S ! MEANS 9V5T$ BY CIVILIZATION TO ABOLI% POV]TY1 AL?\< !SE MEANS ALWAYS HAVE BE5 US$ EXCLUSIVELY 9 ! 9T]E/ ( MONOPOLY1 POLITICAL ECONOMY IS ! PREAMBLE ( ! ORGANIZATION ( WEAL?4 

,IT IS IMPORTANT1 !N1 ?AT WE %\LD RESUME ! /UDY ( ECONOMIC FACTS & PRACTICES1 DISCOV] !IR MEAN+1 & =MULATE !IR PHILOSOPHY4 ,UNTIL ?IS IS DONE1 NO KN[L$GE ( SOCIAL PROGRESS CAN BE ACQUIR$1 NO RE=M ATTEMPT$4 ,! ]ROR ( SOCIALISM HAS CONSI/$ HI!RTO 9 P]PETUAT+ RELIGI\S REV]IE BY LAUN*+ =W>D 9TO A FANTA/IC FUTURE 9/EAD ( SEIZ+ ! REALITY :I* IS CRU%+ IT2 AS ! WRONG ( ! ECONOMI/S HAS BE5 9 REG>D+ EV]Y ACCOMPLI%$ FACT AS AN 9JUNCTION AGA9/ ANY PROPOSAL ( RE=M4 

,= MY [N P>T1 SU* IS NOT MY CONCEPTION ( ECONOMIC SCI5CE1 ! TRUE SOCIAL SCI5CE4 ,9/EAD ( (F]+ A PRIORI >GUM5TS AS SOLUTIONS ( ! =MIDABLE PROBLEMS ( ! ORGANIZATION ( LABOR & ! DI/RIBUTION ( WEAL?1 ,I %ALL 9T]ROGATE POLITICAL ECONOMY AS ! DEPOSIT>Y ( ! SECRET ?\<TS ( HUMANITY2 ,I %ALL CAUSE IT TO DISCLOSE ! FACTS 9 ! ORD] ( !IR OCCURR5CE1 & %ALL RELATE !IR TE/IMONY )\T 9T]M+L+ IT ) MY [N4 ,IT WILL BE AT ONCE A TRIUMPHANT & A LAM5TABLE HI/ORY1 9 :I* ! ACTORS WILL BE IDEAS1 ! EPISODES !ORIES1 & ! DATES =MULAS4 

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