If there is one well-established truth in political economy, it is this:
That in all cases, for all commodities that serve to provide for the tangible or intangible needs of the consumer, it is in the consumer’s best interest that labor and trade remain free, because the freedom of labor and of trade have as their necessary and permanent result the maximum reduction of price.
That the interests of the consumer of any commodity whatsoever should always prevail over the interests of the producer.
Now in pursuing these principles, one arrives at this rigorous conclusion:
That the production of security should, in the interests of the consumers of this intangible commodity, remain subject to the law of free competition.
In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause – it is seen. The others unfold in succession – they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference – the one takes account of the visible effect; the other takes account both of the effects which are seen, and also of those which it is necessary to foresee. Now this difference is enormous, for it almost always happens that when the immediate consequence is favourable, the ultimate consequences are fatal, and the converse. Hence it follows that the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come, – at the risk of a small present evil.
The natural right of man in its primitive and most comprehensive sense is, the right which man has to whatever is advantageous to him; or, as the author, some of whose works I now publish, says, ‘the right which man has to whatever is necessary to his enjoyment.’
This right is subject, even by nature, to relations which vary its use so much, that we are obliged to define it in a very general manner, so as to embrace all the different states in which man can exist.
In order to meet a growing demand, the Institut Coppet designed and implemented a review entitled Laissons Faire. Our goal with this journal is to offer a relevant publication to challenge the economic misconceptions of our time, and increase awareness about the French Classical Liberal School. This is a new way for us to spread the message of liberty and highlight the lack of liberty-minded politicians in France. The Light from Paris. French Excellence in economics (Laissons Faire, n.1, June 2013) However limited the influence of French economists have been upon contemporary economical debates, the history of the birth and rise […]
Pierre de Boisguilbert (1646-1714) Hazel Van Dyke Roberts, Boisguilbert: economist of the reign of Louis XIV, New York, Columbia University Press, 1935 “Boisguilbert: An Early French Economist“, 1873, Westminster Review Vauban (1633-1707) A Project for a Royal Tythe, or General Tax, which by suppressing all the ancient funds and later projects for raising the public revenues, and for ever abolishing all exemptions, unequal assessments, and all rigours and oppressive distraining of people, will furnish the government a fixt and certain revenue, sufficient for all its exigencies and occasions, without oppressing the subjects, London, 1708 (see also the 1710 edition) Richard […]