Economic Sophisms/32

<pagequality level="4" user="Zoeannl" />style="background: #ececec; text-align: left; padding-left: 0.5em; font-weight: bold;" class="table-rh"cannot attract traffic but by conveying goods and passengers more cheaply; and they cannot convey them more cheaply but by diminishing the proportion which the effort employed bears to the result obtained, seeing that that is the very thing which constitutes cheapness. When, then, Baron Dupin deplores this diminution of the labour employed to effect a given result, it is the doctrine of sisyphism which he preaches. Logically, since he prefers the ship to the rail, he should prefer the cart to the ship, the pack-saddle to the cart, and the pannier to all other known means of conveyance, for it is the latter which exacts the most labour with the least result.

"Labour constitutes the wealth of a people," said M. de Saint-Cricq, that Minister of Commerce who has imposed so many restrictions upon trade. We must not suppose that this was an elliptical expression, meaning, "The results of labour constitute the wealth of a people." No, this economist distinctly intended to affirm that it is the intensity of labour which is the measure of wealth, and the proof of it is, that from consequence to consequence, from one restriction to another, he induced France (and in this he thought he was doing her good) to expend double the amount of labour, in order, for example, to provide herself with an equal quantity of iron. In England, iron was then at eight francs, while in France it cost sixteen francs. Taking a day's labour at one franc, it is clear that France could, by means of exchange, procure a quintal of iron by subtracting eight days' work from the aggregate national labour. In consequence of the restrictive measures of M. de Saint-Cricq, France was obliged to expend sixteen days' labour in order to provide herself with a quintal of iron by direct production. Double the labour for the same satisfaction, hence double the wealth. Then it follows that wealth is not measured by the result, but by the intensity of the labour. Is not this sisyphism in all its purity?

And in order that there may be no mistake as to his meaning, the Minister takes care afterwards to explain more fully his ideas; and as he had just before called the intensity of labour wealth, he goes on to call the more abundant results of that labour, or the more abundant supply of things proper to satisfy our wants, poverty. "Everywhere," he says, "machinery has