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?©d?©ric, 1801-1850

"Essays on Political Economy"

" This cannot be;
and those who tell us that capital is by nature unproductive, ought to
know that they are provoking a terrible and immediate struggle.
If, on the contrary, the interest of capital is natural, lawful,
consistent with the general good, as favourable to the borrower as to
the lender, the economists who deny it, the tribunes who traffic in this
pretended social wound, are leading the workmen into a senseless and
unjust struggle, which can have no other issue than the misfortune of
all. In fact, they are arming labour against capital. So much the
better, if these two powers are really antagonistic; and may the
struggle soon be ended! But, if they are in harmony, the struggle is the
greatest evil which can be inflicted on society. You see, then, workmen,
that there is not a more important question than this:--"Is the interest
of capital lawful or not?" In the former case, you must immediately
renounce the struggle to which you are being urged; in the second, you
must carry it on bravely, and to the end.
Productiveness of capital--perpetuity of interest. These are difficult
questions. I must endeavour to make myself clear. And for that purpose I
shall have recourse to example rather than to demonstration; or rather,
I shall place the demonstration in the example. I begin by acknowledging
that, at first sight, it may appear strange that capital should pretend
to a remuneration, and above all, to a perpetual remuneration.


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