Political economy has often been reproached with drawing all its deductions from the decidedly false principle, that the only incentive capable of forcing a man to augment his power of production is personal interest in its narrowest sense.

The reproach is perfectly true; so true that epochs of great industrial discoveries and true progress in industry are precisely those in which the happiness of all was inspiring men, and in which personal enrichment was least thought of. The great investigators in science and the great inventors aimed, above all, at giving greater freedom of mankind. And if Watt, Stephenson, Jacquard, etc., could have only foreseen what a state of misery their sleepless nights would bring to the workers, they certainly would have burned their designs and broken their models.

Another principle that pervades political economy is just as false. It is the tacit admission, common to all economists, that if there is often overproduction in certain branches, a society will nevertheless never have sufficient products to satisfy the wants of all, and that consequently the day will never come when nobody will be forced to sell his labour in exchange for wages. This tacit admission is found at the basis of all theories and all the so-called ‘laws’ taught by economists.