Proudhon

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  • The correspondence 1 of P. J. Proudhon, the first volumes of which we publish to-day, has been collected since his death by the faithful and intelligent labors of his daughter, aided by a few friends. It was incomplete when submitted to Sainte Beuve, but the portion with which the illustrious academician became acquainted was sufficient to allow him to estimate it as a whole with that soundness of judgment which characterized him as a literary critic.

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  • Most stock market speculation is based upon either random calculations or upon restricted information. The first group of speculations includes games and betting in all their forms, particularly the purchase and sale within the account that is often performed in precarious circumstances: purchase without the available funds when the trade is opened and sale without possessing at that date the contract for the asset concerned.

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  • Marx, it is often assumed, cared only about industrial growth and the development of economic forces. John Bellamy Foster examines Marx's neglected writings on capitalist agriculture and soil ecology, philosophical naturalism, and evolutionary theory. He shows that Marx, known as a powerful critic of capitalist society, was also deeply concerned with the changing human relationship to nature. Marx's Ecology covers many other thinkers, including Epicurus, Charles Darwin, Thomas Malthus, Ludwig Feuerbach, P. J. Proudhon, and William Paley.

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  • LABOR AS THE EFFICIENT CAUSE OF THE DOMAIN OF PROPERTY % 1. The Land cannot be appropriated. % 2. Universal Consent no Justification of Property. % 3. Prescription gives no Title to Property. % 4. Labor.—That Labor has no Inherent Power to appropriate Natural Wealth. % 5. That Labor leads to Equality of Property. % 6. That in Society all Wages are Equal. % 7. That Inequality of Powers is the Necessary Condition of Equality of Fortunes. % 8.

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  • Bài giảng Lịch sử các học thuyết kinh tế - Chuơng 5: Học thuyết kinh tế tiểu tư sản nêu lên hoàn cảnh ra đời của kinh tế học tiểu tư sản, đặc điểm của kinh tế học tiểu tư sản, học thuyết kinh tế của Sismondi, học thuyết kinh tế của Proudhon.

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  • This contribution is organised in the following manner - the first section is devoted to the development of Proudhon’s thought in relation to speculation. It is divided into two parts. The first part is dedicated to Pierre-Joseph Proudhon’s definitions of stock market speculation or gambling with shares that for him served no purpose either from a human or economic perspective and was therefore condemnable and to be contrasted with entrepreneurial speculation that, even though it is a highly-risky activity, involves the spirit of enterprise and provides the lifeblood of economic growth.

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  • Beginning with the third edition, Proudhon intends to consider doctrines on the stock market or the ―temple of speculation‖ that derive from his political and social writing. He wants to assess stock market speculation in relation to general social standards or ―public morals‖ and to ―economic development‖ of his era.

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  • Commercial existence shows that there exists extensive ―dependence and solidarity‖ to varying degrees between all speculative business. It must be remembered that speculation dominates the entire economic system since it underlies and drives work, lending and trade. Every rise or fall of asset values consequently affects the entire economic system (stock market, banks, companies, society) since all economic transactions are interconnected.

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  • Proudhon represents speculation as a type of production. However, like all human activity it can be misused – “unproductive speculation,” the stock market acting as, “the temple,” for this ritual. He adds that unproductive speculation is an inherent part of the economic system.

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  • All industrial, commercial and financial combinations are governed by chance: speculation thus involves some level of risk. The reward from the transaction is therefore two-fold: for the newly created utility there is the reward for a service and a speculative gain for the risk assumed. This second part, the jobbery, is the object of abuse: sought for its own sake, irrespective of any service supplied, this remuneration of risk can be classified as a game or even as a fraud. Speculation is thus the art of becoming rich “without working, capital, trade or genius.

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  • In an economic system that is based upon individual behaviour and not upon conformity, that is to say, it is based upon, “the absence of mutual interest amongst the factors of production” no law prohibiting abusive speculation is possible. The period of time between delivery and payment, being the condition of lending and of trade, produces a risk to production and to the transportation of goods.

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  • It is evident that Proudhon is more of a doctrinaire than a theorist: science is not concerned with morals and only studies facts. Society is a product of circumstances; its transformation is a political and not a scientific problem.

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