Economists from France

"What is called music today is all too often only a disguise for the monologue of power. However, and this is the supreme irony of it all, never before have musicians tried so hard to communicate with their audience, and never before has that communication been so deceiving. Music now seems hardly more than a somewhat clumsy excuse for the self-glorification of musicians and the growth of a new industrial sector."

"The depopulation plan behind Covid goes back at least to the 1970’s when Jacques Attali, still today a key adviser to the French government, said in a public interview, “Useless eaters are good for the slaughter-house.” Hence the dangerous and deadly “vaccinations.”"

"L'État c'est la grande fiction à travers laquelle tout le monde s'efforce de vivre aux dépens de tout le monde."

"By virtue of exchange, one man's prosperity is beneficial to all others."

"The profit of the one is the profit of the other."

"Competition is merely the absence of oppression."

"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 only of the visible effect; the other takes account of both the effects which are seen and 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."

"Either fraternity is spontaneous, or it does not exist. To decree it is to annihilate it. The law can indeed force men to remain just; in vain would it try to force them to be self-sacrificing."

"If socialists mean that under extraordinary circumstances, for urgent cases, the State should set aside some resources to assist certain unfortunate people, to help them adjust to changing conditions, we will, of course, agree. This is done now; we desire that it be done better. There is however, a point on this road that must not be passed; it is the point where governmental foresight would step in to replace individual foresight and thus destroy it."

"[The socialists declare] that the State owes subsistence, well-being, and education to all its citizens; that it should be generous, charitable, involved in everything, devoted to everybody; ...that it should intervene directly to relieve all suffering, satisfy and anticipate all wants, furnish capital to all enterprises, enlightenment to all minds, balm for all wounds, asylums for all the unfortunate, and even aid to the point of shedding French blood, for all oppressed people on the face of the earth. Who would not like to see all these benefits flow forth upon the world from the law, as from an inexhaustible source? … But is it possible? … Whence does [the State] draw those resources that it is urged to dispense by way of benefits to individuals? Is it not from the individuals themselves? How, then, can these resources be increased by passing through the hands of a parasitic and voracious intermediary? ... Finally … we shall see the entire people transformed into petitioners. Landed property, agriculture, industry, commerce, shipping, industrial companies, all will bestir themselves to claim favors from the State. The public treasury will be literally pillaged. Everyone will have good reasons to prove that legal fraternity should be interpreted in this sense: "Let me have the benefits, and let others pay the costs." Everyone's effort will be directed toward snatching a scrap of fraternal privilege from the legislature. The suffering classes, although having the greatest claim, will not always have the greatest success."

"When under the pretext of fraternity, the legal code imposes mutual sacrifices on the citizens, human nature is not thereby abrogated. Everyone will then direct his efforts toward contributing little to, and taking much from, the common fund of sacrifices. Now, is it the most unfortunate who gains from this struggle? Certainly not, but rather the most influential and calculating."

"Lorsque la Spoliation est devenue le moyen d’existence d’une agglomération d’hommes unis entre eux par le lien social, ils se font bientôt une loi qui la sanctionne, une morale qui la glorifie."

"It is a rather singular argument to maintain that, because an abuse which has been permitted a temporary existence, cannot be corrected without wounding the interests of those who have profited by it, it ought, therefore, to claim perpetual duration."

"Life, faculties, production — in other words, individuality, liberty, property — this is man. And in spite of the cunning of artful political leaders, these three gifts from God precede all human legislation, and are superior to it. Life, liberty, and property do not exist because men have made laws. On the contrary, it was the fact that life, liberty, and property existed beforehand that caused men to make laws in the first place."

"It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder."

"When law and morality contradict each other, the citizen has the cruel alternative of either losing his moral sense or losing his respect for the law."

"Thus, if there exists a law which sanctions slavery or monopoly, oppression or robbery, in any form whatever, it must not even be mentioned. For how can it be mentioned without damaging the respect which it inspires? Still further, morality and political economy must be taught from the point of view of this law; from the supposition that it must be a just law merely because it is a law. Another effect of this tragic perversion of the law is that it gives an exaggerated importance to political passions and conflicts, and to politics in general."

"But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime."

"Legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on. All these plans as a whole — with their common aim of legal plunder — constitute socialism."

"No legal plunder: This is the principle of justice, peace, order, stability, harmony, and logic. Until the day of my death, I shall proclaim this principle with all the force of my lungs (which alas! is all too inadequate)."

"Essayez d’imaginer une forme de travail imposée par la Force, qui ne soit une atteinte à la Liberté ; une transmission de richesse imposée par la Force, qui ne soit une atteinte à la Propriété. Si vous n’y parvenez pas, convenez donc que la Loi ne peut organiser le travail et l’industrie sans organiser l’Injustice."

"Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its being done at all. We disapprove of state education. Then the socialists say that we are opposed to any education. We object to a state religion. Then the socialists say that we want no religion at all. We object to a state-enforced equality. Then they say that we are against equality. And so on, and so on. It is as if the socialists were to accuse us of not wanting persons to eat because we do not want the state to raise grain. I do not dispute their right to invent social combinations, to advertise them, to advocate them, and to try them upon themselves, at their own expense and risk. But I do dispute their right to impose these plans upon us by law – by force – and to compel us to pay for them with our taxes."

"If the natural tendencies of mankind are so bad that it is not safe to permit people to be free, how is it that the tendencies of these organizers are always good? Do not the legislators and their appointed agents also belong to the human race? Or do they believe that they themselves are made of a finer clay than the rest of mankind?"

"It seems to me that this is theoretically right, for whatever the question under discussion — whether religious, philosophical, political, or economic; whether it concerns prosperity, morality, equality, right, justice, progress, responsibility, cooperation, property, labor, trade, capital, wages, taxes, population, finance, or government — at whatever point on the scientific horizon I begin my researches, I invariably reach this one conclusion: The solution to the problems of human relationships is to be found in liberty."

"Le plus pressé, ce n'est pas que l'État enseigne, mais qu'il laisse enseigner. Tous les monopoles sont détestables, mais le pire de tous, c'est le monopole de l'enseignement."

"If (when) goods don’t cross borders, soldiers will."

"By the way, have you had time to read Bastiat's partly posthumous volume, 'Les Harmonies Economiques'? If not, do so; it will require a studious perusal, but will repay it. He has breathed a soul into the dry bones of political economy, and has vindicated his favourite science from the charge of inhumanity with all the fervour of a religious devotee."

"In three years every Frenchman can know how to read. Do you think that we shall be the better off? Imagine on the other hand that in each commune, there was ONE bourgeois, only one, who had read Bastiat, and that this bourgeois was respected, things would change."

"The shallowest and therefore the most successful representative of the apologists of vulgar economics."

"Bastiat...was not long in awakening to the fact that not Protection but Socialism was now the foe that menaced France. He turned round with admirable versatility, and brought to bear on the new monster the same keen and patient scrutiny, the same skilful dexterity in reasoning and illustration, which had done such good service against the more venerable heresy. The pamphlets which he wrote between 1848 and 1850 contain by much the most penetrating and effective examination that the great Socialist writers in France have ever received."

"When Sir Robert Peel had at last passed his famous measure [the repeal of the Corn Laws], Bastiat, a French economist and Cobden's friend, was gravely disappointed. It was not enough that the markets of England were thrown wide open to French commerce. "What you have to show France above all else," said Bastiat in an astounding letter, "is that freedom of exchange will cause the disappearance of those military perils which France apprehends. England ought seriously to disarm." It would be hard indeed to surpass the pedant naïveté of this French Free Trader. It was not enough that England should surrender her markets—she must surrender herself as well, or France would not believe in her sincerity!"

"Europe is a commercial giant and an economic power of the first rank, but it is a political dwarf. Political cooperation in the Community will grow. The question is whether the supply services will follow."

"I take what is good where I find it. I am for what the Anglo-Saxons call a 'policy mix' in the context of a mixed economy. ... I would simply say...without wishing to offend anyone, that you appreciate the distance which separates British Leyland from Renault. We want to have more Renaults. It is the difference between an industrial policy which succeeds and one which does not."

"Socialism was not the socialization of losses and the privatization of profits."

"My feeling is that we will not be able to take all the decisions which will be necessary from now until 1995 unless there is the embryo of a European government in one form or another."

"It is impossible to build Europe on only deregulation...1992 is much more than the creation of an internal market abolishing barriers to the free movement of goods services and investment...The internal market should be designed to benefit each and every citizen of the Community. It is therefore necessary to improve workers' living and working conditions, and to provide better protection for their health and safety at work...Europe needs you."

"My objective is that before the end of the millennium Europe should have a true federation. The Commission should become a political executive which can define essential common interests...responsible before the European Parliament and before the nation-states represented how you will, by the European Council or by a second chamber of national parliaments."

"The Americans should stop insulting us, I'm not going to be an accomplice to the depopulation of the land. It's not up to the Americans to tell us how to organise our farm policy and the balance of our society. Their attitude is to treat the EC as if it had the plague and then encourage the rest of the world to join in."

"The social and human balance of our societies depend on the farming world."

"It is not sufficient to have a strong economy to influence events. You also have to political and military power. ... A community limited to a big market refusing to resume its responsibilities and ambitions in the world will not be peaceful, will not be able to assure its children that they will live in security. [If Europe is to have political personality it would have to have] a common foreign policy in certain domains and military co-operation that will lead, before 1995, to the creation of a multilateral rapid intervention force."

"If we do not succeed with political union...then the historic decline of Europe which began with the First World War will resume."

"The crux is the reform of the treaty which would lead to common action. There must be a will to defend the central interests of Europe. If there is no majority voting, then the same level of impotence will continue."

"Federalism is a guideline, not a pornographic word, you can speak it out loud...We have been focusing too much on a country that has said no, no, no!"

"If we are really on the way towards a political entity with a common foreign policy on basic issues, then I consider that France's nuclear force should be available to serve that policy."

"Farmers have their dignity, just as others do. It is fine to make efforts to make them react to markets, but you cannot then tie their hands and take away their choices. That is putting them in a straitjacket. ... I have always felt that the Community should be able to say 'No' to its big brother [America]."

"[I criticise those] countries that used currency devaluation as a lever to win jobs. I would refer you to one member state of the Community without name it. Those who devalue in an extreme way will find health at the expense of the rest of the Community. It's like three people shipwrecked—one person floats for the sake of the other two going under."

"We must define the political Europe that we want. We must plead for the federal approach."

"Cars are free to circulate but still there are speed limits, therefore I do not see why, at the international level, we should not study ways to limit monetary movements. Bankers cannot act at will. ... Why should we not draw up some rules of the game?"

"He thinks I am the man of the past but I am still here. He is the man of the past."

"Europe will have 30 million unemployed by the end of the century if the continent's competitiveness and employment patterns are not rapidly changed. ... Europe's economic performance against America and Asia was declining and that the Community was faced with a choice between further decline and survival."

"What I see is European construction drifting towards a free-trade zone, that is to say an English-style Europe, which I reject. If we do nothing, this will lead in 15 years to a break-up. I reject a Europe that would be just a market, a free-trade zone without a soul, without a conscience, without political will, without a social dimension."

"[Greek voices] must not only be heard claiming their due but also contributing to the European Union."

"Politicians who attack the dream of a federal Europe are racist bigots intent on undermining the Continent's freedom and peace."

"What is perceived as a cost by some will turn out to be the competitive advantage of Europe by helping maintain a well-trained, secure workforce, open to change."

"I have a passion for reform, for the progress of man and society. I cannot stand the feeling of being useless."

"According to [John Major], the issue now is to build a greater Europe around a single market and some areas of co-operation, notably in the environment. Everything else is flexible. I call that Europe à la carte. This is not my thesis. Mine is: the fathers of the Treaty of Rome wanted not just peace among us, but also that Europe should be able to continue existing in a world in which they sensed profound change in the wind, without being able to describe it. In consequence, if we want our nations to keep their universal capacity together, they must unite politically, without nostalgia for the old order."

"The spirit of the Right is dominated by scepticism towards the possibility of profound change in society and above all towards the idea that man can achieve progress over himself. On the Left, on the other hand, there exists a belief in human and social progress."

"We have preserved social security and the welfare state, but at the expense of employment. Neo-liberalism, which put the emphasis on the market, manifested itself in Europe by the policies led by Margaret Thatcher, who sometimes had good reasons to prise off the shackles which were condemning British society to decline. But [Thatcherite policies] fell into an excess of laissez faire."

"[The European Union must be a] federal union with a common currency, a tightly co-ordinated economic policy and a foreign policy capable of common diplomatic and military action. ... Britain is refusing to face reality. Does England have a future outside Europe? No. But it is difficult for a great nation to bid farewell to its golden age."

"Socialism had defeated her brand of ultra-liberal economics. ... [Margaret Thatcher believed that] the law of the market could be applied in the place of politics. She underestimated the dignity and grandeur of politics, which is an attempt to combine, an attempt to convince, an attempt to listen to others, to try to find a society which is not better but less bad than the one in which we live today."

"[Only federalism] allows democratic control and can punish abuses of power. Only federalism can guarantee respect for national character and regional variety. ... The springtime of Europe is still before us."

"Europe needs an army to fight the resource wars of the twenty-first century."

"Up Yours Delors"

"I have five questions that I ask people who have power, and I recommend them to the House. If I see someone who is powerful, be it a traffic warden, Rupert Murdoch, the head of a trade union or a Member of Parliament, I ask myself these five questions: "What power have you got? Where did you get it? In whose interests do you exercise it? To whom are you accountable? How can we get rid of you?" That last question is crucial. We cannot get rid of Jacques Delors; we cannot get rid of the [European] Commission. We can get rid of a Government; but we cannot get rid of European legislation that a Government have entrenched during their period in office—be they a Labour Government with the Tories coming or the other way around."

"At the very moment the eastern bloc disintegrated, the EEC mooted a major step in the opposite direction. The commission’s head, Jacques Delors, proposed in 1990 that the EEC become an executive agent of the European Parliament, with the currently sovereign Council of Ministers as merely its senate. This would drastically increase the unelected commission’s authority and diminish national sovereignty. It was constitutionally–not to mention politically–explosive. The EU was becoming a state without a nation. Britain’s Thatcher reacted in the House of Commons, ‘No, no, no!’ She later added, ‘We have not successfully rolled back the frontiers of the state in Britain only to see them reimposed at a European level, with a European superstate exercising a new dominance from Brussels.’ The Delors initiative won little support and was scrapped, but Thatcher’s days were numbered. In November 1990 she was felled by a party coup and replaced by the Chancellor of the Exchequer, John Major."

"The President of the Commission, M. Delors, said at a press conference the other day that he wanted the European Parliament to be the democratic body of the Community, he wanted the Commission to be the Executive and he wanted the Council of Ministers to be the Senate. No. No. No."

"To understand a science it is necessary to know its history."

"The dead govern the living."

"Social positivism only accepts duties, for all and towards all. Its constant social viewpoint cannot include any notion of rights, for such notion always rests on individuality. We are born under a load of obligations of every kind, to our predecessors, to our successors, to our contemporaries. These obligations then increase or accumulate, for it is some time before we can return any service. … Any human right is therefore as absurd as immoral. Since there are no divine rights anymore, this concept must therefore disappear completely as related only to the preliminary regime and totally inconsistent with the final state where there are only duties based on functions."

"Men are not allowed to think freely about chemistry and biology: why should they be allowed to think freely about political philosophy?"

"Foreknowledge is power."

"Reorganisation, irrespectively of God or king, by the worship of Humanity, systematically adopted. Man’s only right is to do his duty. The Intellect should always be the servant of the Heart, and should never be its slave."

"The object of all true Philosophy is to frame a system which shall comprehend human life under every aspect, social as well as individual. It embraces, therefore, the three kinds of phenomena of which our life consists, Thoughts, Feelings, and Actions."

"The first condition of unity is a subjective principle; and this principle in the Positive system is the subordination of the intellect to the heart: Without this the unity that we seek can never be placed on a permanent basis, whether individually or collectively. It is essential to have some influence sufficiently powerful to produce convergence amid the heterogeneous and often antagonistic tendencies of so complex an organism as ours."

"It lays down, as is generally known, that our speculations upon all subjects whatsoever, pass necessarily through three successive stages: a Theological stage, in which free play is given to spontaneous fictions admitting of no proof; the Metaphysical stage, characterized by the prevalence of personified abstractions or entities; lastly, the Positive stage, based upon an exact view of the real facts of the case."

"And now I have explained the series of social and intellectual conditions by which the discovery of sociological laws, and consequently the foundation of Positivism, was fixed for the precise date at which I began my philosophical career: that is to say, one generation after the progressive dictatorship of the Convention, and almost immediately after the fall of the retrograde tyranny of Bonaparte."

"It was under Catholic Feudalism that they were first united; a union for which their incorporation into the Roman empire had prepared them, and which was finally organized by the incomparable genius of Charlemagne."

"There are three successive states of morality answering to the three principal stages of human life; the personal, the domestic, and the social stage."

"The principal means of realizing it will be the formation of an alliance between philosophers and the working classes, for which both are alike prepared by the negative and positive progress of the last five centuries. The direct object of their combined action will be to set in motion the force of Public Opinion."

"The errors of Communism must be rectified; but there is no necessity for giving up the name, which is a simple assertion of the paramount importance of Social Feeling. However, now that we have happily passed from monarchy to republicanism, the name of Communist is no longer indispensable; the word Republican expresses the meaning as well, and without the same danger. Positivism, then, has nothing to fear from Communism; on the contrary, it will probably be accepted by most Communists among the working classes, especially in France where abstractions have but little influence on minds thoroughly emancipated from theology. The people will gradually find that the solution of the great social problem which Positivism offers is better than the Communistic solution."

"Thus the social position of women is in this respect very similar to that of philosophers and of the working classes. And we now see why these three elements should be united. It is their combined action which constitutes the moral or modifying force of society."

"All classes, therefore, must be brought under women’s influence; for all require to be reminded constantly of the great truth that Reason and Activity are subordinate to Feeling. Of their influence upon philosophers I have spoken. If they are men worthy of their mission, they will be conscious of the tendency which their life has to harden them and lead them into useless speculation; and they will feel the need of renewing the ardour of their social sympathy at its native source. Feeling, when it is pure and deep, corrects its own errors, because they clash with the good to which it is ever tending. But erroneous use of the intellectual or practical faculties, cannot be even recognized, much less corrected, without the aid of Affection, which is the only part of our nature that suffers directly from such errors. Therefore whenever either the philosopher or the people deviate from duty, it will be the part of women to remonstrate with them gently, and recall them to the true social principles which are entrusted to their special charge."

"A common monetary standard will be established, with the consent of the various governments, by which industrial transactions will be greatly facilitated. Three spheres made respectively of gold, silver, and platinum, and each weighing fifty grammes, would differ sufficiently in value for the purpose. The sphere should have a small flattened base, and on the great circle parallel to it the Positivist motto would be inscribed. At the pole would be the image of the immortal Charlemagne, the founder of the Western Republic, and round the image his name would be engraved, in its Latin form, Carolus; that name, respected as it is by all nations of Europe alike, would be the common appellation of the universal monetary standard."

"Mathematical Analysis is... the true rational basis of the whole system of our positive knowledge."

"Every attempt to refer chemical questions to mathematical doctrines must be considered, now and always, profoundly irrational, as being contrary to the nature of the phenomena. . . . but if the employment of mathematical analysis should ever become so preponderant in chemistry (an aberration which is happily almost impossible) it would occasion vast and rapid retrogradation...."

"Language forms a kind of wealth, which all can make use of at once without causing any diminution of the store, and which thus admits a complete community of enjoyment; for all, freely participating in the general treasure, unconsciously aid in its preservation."

"Notwithstanding the eminent difficulties of the mathematical theory of sonorous vibrations, we owe to it such progress as has yet been made in acoustics. The formation of the differential equations proper to the phenomena is, independent of their integration, a very important acquisition, on account of the approximations which mathematical analysis allows between questions, otherwise heterogeneous, which lead to similar equations. This fundamental property, whose value we have so often to recognize, applies remarkably in the present case; and especially since the creation of mathematical thermology, whose principal equations are strongly analogous to those of vibratory motion. This means of investigation is all the more valuable on account of the difficulties in the way of direct inquiry into the phenomena of sound. We may decide the necessity of the atmospheric medium for the transmission of sonorous vibrations; and we may conceive of the possibility of determining by experiment the duration of the propagation, in the air, and then through other media; but the general laws of the vibrations of sonorous bodies escape immediate observation. We should know almost nothing of the whole case if the mathematical theory did not come in to connect the different phenomena of sound, enabling us to substitute for direct observation an equivalent examination of more favorable cases subjected to the same law. For instance, when the analysis of the problem of vibrating chords has shown us that, other things being equal, the number of oscillations is hi inverse proportion to the length of the chord, we see that the most rapid vibrations of a very short chord may be counted, since the law enables us to direct our attention to very slow vibrations. The same substitution is at our command in many cases in which it is less direct."

"In the final, positive state, the mind has given over the vain search after Abolute notions, the origin and destination of the universe, and the cause of phenomenon, and applies itself to the tudy of their laws, - that is, their invariable relations of succession and resemblance. Reasoning and observation, duly combined, are the means of this knowledge. What is now understood when we speak of an explanation of the facts is simply the establishment of a connection between single phenomena and some general facts, the number of which continually diminishes with the progress of science."

"After Montesquieu, the next great addition to Sociology (which is the term I may be allowed to invent to designate Social Physics) was made by Condorcet, proceeding on the views suggested by his illustrious friend Turgot."

"The mathematical thermology created by Fourier may tempt us to hope that, as he has estimated the temperature of the space in which we move, me may in time ascertain the mean temperature of the heavenly bodies: but I regard this order of facts as for ever excluded from our recognition. We can never learn their internal constitution, nor, in regard to some of them, how heat is absorbed by their atmosphere. We may therefore define Astronomy as the science by which we discover the laws of the geometrical and mechanical phenomena presented by the heavenly bodies."

"Catholicism minus Christianity."

"Comte began, like Hume, with the rejection of religion, but subsequently relapsed into fetichism."

"M. Comte, in particular, whose social system, as unfolded in his Systeme de Politique Positive, aims at establishing (though by moral more than by legal appliances) a despotism of society over the individual, surpassing anything contemplated in the political ideal of the most rigid disciplinarian among the ancient philosophers."

"Of M. Comte I have only read a few absurd passages."

"The philosopher Comte has made the statement that chemistry is a non-mathematical science. He also told us that astronomy had reached a stage when further progress was impossible. These remarks, coming after Dalton's atomic theory, and just before Guldberg and Waage were to lay the foundations of chemical dynamics, Kirchhoff to discover the reversal of lines in the solar spectrum, serve but to emphasize the folly of having "recourse to farfetched and abstracted Ratiocination," and should teach us to be "very far from the litigious humour of loving to wrangle about words or terms or notions as empty"."

"The only true and scientific method according to Comte is therefore the inductive method and science is only such as is based on experiment. Secondly, the aim and apex of science is the new science of the imaginary organism of humanity or of the super-organic being-humanity: this new imaginary science being sociology. From this view of science in general it appeared that all former knowledge was false, and the whole history of humanity's knowledge of itself fell into three, or really two, periods: # The theological and metaphysical periods, lasting from the commencement of the world until Comte # and the present period of true science — positivism — which began with Comte. This was all very nice; there was only one error, namely, that the whole edifice was built on the sand — on the arbitrary assertion that humanity is an organism. That assertion was arbitrary because we have no more right to acknowledge the existence of an organism of humanity not subject to observation than we have to acknowledge the existence of a triune God and similar theological propositions. That assertion was fallacious because to the conception of humanity, that is, of men, the definition of an organism was incorrectly affixed despite the fact that humanity lacks the essential sign of an organism, namely a centre of sensation and consciousness. We only call an elephant or a bacterium an 'organism' because, by analogy we attribute to those beings a similar unification of sensation and of consciousness to that we are conscious of in ourselves; but in human societies and in humanity this essential indication is lacking, and therefore, however many other indications we may detect that are common to humanity and to an organism, in the absence of that essential indication, the acknowledgement of humanity as an organism is incorrect. But despite the arbitrariness and incorrectness of its fundamental basis the positive philosophy was accepted most cordially by the so-called educated world, so important for that world was the justification this philosophy afforded to the existing order of things by regarding the present rule of violence among men as Just. What is remarkable in this connexion is that of Comte's works which consist of two parts — the positive philosophy and the positive politics — the learned world only accepted the first: the part which, on the new experimental basis, offered a justification for the existing evil of human societies; but the second part, dealing with the moral obligations of altruism resulting from acknowledging humanity as an organism, was considered not merely unimportant but even insignificant and unscientific."

"Kierkegaard was interested in the development of the existent, individual, concrete human personality. Its chief Kierkegaardian stages are the esthetic, the moral, and the religious, and they form a striking contrast to Comte’s trio: the theological, the metaphysical, and the scientific. For one thing Kierkegaard’s highest stage of human existence is the religious, while Comte’s is the scientific; for another, the Kierkegaardian personality’s journey through its stages is absolutely free."

"Eripuit Coelo fulmen, mox Sceptra Tyrannis."

"The fate of America is already decided — Behold her independent beyond recovery. — But will She be free and happy? — Can this new people, so advantageously placed for giving an example to the world of a constitution under which man may enjoy his rights, freely exercise all his faculties, and be governed only by nature, reason and justice — Can they form such a Constitution? — Can they establish it upon a never failing foundation, and guard against every source of division and corruption which may gradually undermine and destroy it? … It is impossible not to wish ardently that this people may attain to all the prosperity of which they are capable. They are the hope of the world. They may become a model to it. They may prove by fact that men can be free and yet tranquil; and that it is in their power to rescue themselves from the chains in which tyrants and knaves of all descriptions have presumed to bind them under the pretence of the public good. They may exhibit an example of political liberty, of religious liberty, of commercial liberty, and of industry. The Asylum they open to the oppressed of all nations should console the earth. The case with which the injured may escape from oppressive governments, will compel Princes to become just and cautious; and the rest of the world will gradually open their eyes upon the empty illusions with which they have been hitherto cheated by politicians. But for this purpose America must preserve herself from these illusions; and take care to avoid being what your ministerial writers are frequently saying She will be — an image of our Europe — a mass of divided powers contending for territory and commerce, and continually cementing the slavery of the people with their own blood."

"If the land was divided among all the inhabitants of a country, so that each of them possessed precisely the quantity necessary for his support, and nothing more; it is evident that all of them being equal, no one would work for another. Neither would any of them possess wherewith to pay another for his labour, for each person having only such a quantity of land as was necessary to produce a subsistence, would consume all he should gather, and would not have any thing to give in exchange for the labour of others."

"The earth has been cultivated before it has been divided; the cultivation itself having been the only motive for a division, and for that law which secures to every one his property. For the first persons who have employed themselves in cultivation, have probably worked as much land as their strength would permit, and, consequently, more than was necessary for their own nourishment."

"Every soil does not produce every material."

"The productions of the earth require long and difficult preparations, before they are rendered fit to supply the wants of men. The productions which the earth supplies to satisfy the different wants of man, will not, for the most part, administer to those wants, in the state nature affords them; it is necessary they should undergo different operations, and be prepared by art. Wheat must be converted into flour, then into bread; hides must be dressed or tanned; wool and cotton must be spun; silk must be taken from the cod; hemp and flax must be soaked, peeled, spun, and wove into different textures; then cut and sewed together again to make garments, &c. If the same man who cultivates on his own land these different articles, and who raises them to supply his wants, was obliged to perform all the intermediate operations himself, it is certain he would succeed very badly."

"All merchandize has the two essential properties of money, to measure and to represent all value: and in this sense all merchandize is money."

"All is more or less proper to serve as a common measure, in proportion as it is more or less in general use, of a more similar quality, and more easy to be divided into aliquot parts. All is more or less applicable for the purpose of a general pledge of exchange, in proportion as it is less susceptible of decay or alteration in quantity or quality."

"All money is essentially merchandize."

"Gold and silver are constituted, by the nature of things, money, and universal money, independent of all convention, and of all laws."

"Not only there does not exist, nor can exist, any other revenue than the clear produce of land, but it is the earth also that has furnished all capitals, that form the mass of all the advances of culture and commerce. It has produced, without culture, the first gross and indispensible advances of the first labourers; all the rest are the accumulated fruits of the œconomy of successive ages, since they have begun to cultivate the earth. This œconomy has effect not only on the revenues of proprietors, but also on the profits of all the members of laborious classes. It is even generally true, that, though the proprietors have more overplus, they spare less; for, having more treasure, they have more desires, and more passions; they think themselves better ensured of their fortune; and are more desirous of enjoying it contentedly, than to augment it; luxury is their pursuit. The stipendiary class, and he chiefly the undertakers of the other classes, receiving profits proportionate to their advances, talents, and activity, have, though they are not possessed of a revenue properly so called, a superfluity beyond their subsistence; but, absorbed as they generally are, only in their enterprizes, and anxious to increase their fortune; restrained by their labour from amusements and expensive passions; they save their whole superfluity, to re-convert it in other enterprizes, and augment it."

"Turgot was something more even than the best man of his party. He was the best worker. While Voltaire clamoured and wept for humanity, while d'Alembert thought, Grimm wrote, Diderot talked, and Condorcet dreamed and died, Turgot laboured. Broad and bold in aim, he was yet content to do what he could. … To do one's best here and now, with the wretched tools one has to hand, in the teeth of indolence, obstinacy, and the spirit of routine, to compromise where one cannot overcome, and instead of sitting picturing some golden future, to do at once the little one can — that was this statesman's policy."

"All men now allow that if any human power could have stemmed the avalanche of the French Revolution, it would have been the reforms of Turgot."

"Turgot was never dazzled; it was his greatness, if it was also his misfortune, to see men and the world exactly as they are."

"It was nothing to him that his own caste shot out the lip and scorned him. Cold and awkward in manner, regular and austere in habit, and as pure as a good woman, of course they hated him. But it was much to him that the clergy who ruled the people were also his foes, that that very people themselves were so dull and hopeless, that they too suspected his motives and concluded that because for them every change had always been for the worse, every change always would be. Slowly, gradually, he gained the favour of the priest and the love of the flock. He could not turn their hell into heaven: he could not make earth at all what Condorcet, uplifted in noble vision, would dream it yet might be. But he could do something."

"In his home-life Turgot remained most frugal and laborious, treating his servants with a benevolence then accounted contemptible, and working out his quiet schemes with an infinite patience and thoroughness. When he was offered the richer Intendancy of Lyons, he would not take it. Here, as he said of himself, though he was 'the compulsory instrument of great evil,' he was doing a little good. Only a little, it might be. But if every man did the little he could — what a different world!"

"Turgot could not save France from her Revolution, but he gave her, and all countries, practical, working theories on government, on the liberty of the press, on the best means of helping the poor, on the use of riches, on civil, political, and religious liberty, which are still invaluable. … He has been justly said to have founded modern political economy ; to have bequeathed to future generations ' the idea of the freedom of industry;' and to have made ready the way for the reforms which are the glory of our own day. Among Voltaire's fellow-workers there are far more dazzling personalities. But from their fiery words, exalted visions, and too glorious hopes one turns with a certain sense of relief to this quiet, strong, practical man, and understands why the people, whose instinct in judging the character of their rulers seldom betrays them in the long run, specially acclaimed Turgot as a friend."

"TURGOT ... I present today one of the three greatest statesmen who fought unreason in France between the close of the Middle Ages and the outbreak of the French Revolution —Louis XI and Richelieu being the two other. And not only this: were you to count the greatest men of the modern world upon your fingers, he would be of the number —a great thinker, writer, administrator, philanthropist, statesman, and above all, a great character and a great man. And yet, judged by ordinary standards, a failure. For he was thrown out of his culminating position, as Comptroller-General of France, after serving but twenty months, and then lived only long enough to see every leading measure to which he had devoted his life deliberately and malignantly undone; the flagrant abuses which he had abolished restored, apparently forever; the highways to national prosperity, peace, and influence, which he had opened, destroyed; and his country put under full headway toward the greatest catastrophe the modern world has seen."

"The greatness of Turgot now began to appear: while he performed all the duties of the seminary and studied thoroughly what was required, he gave himself to a wide range of other studies, and chiefly in two very different directions — to thought and work upon those problems in religion which transcend all theologies, and upon those problems in politics which are of vast importance in all countries, and which especially needed discussion in his own."

"The French philosophy of the eighteenth century was in full strength. Those were the years in which Voltaire ruled European opinion, and Turgot could not but take account of his influence. Yet no one could apparently be more unlike those who were especially named as the French philosophers of the eighteenth century. He remained reverential; he was never blasphemous, never blatant; he was careful to avoid giving needless pain or arousing fruitless discussion; and, while the tendency of his whole thinking was evidently removing him from the orthodoxy of the Church, his was a broader and deeper philosophy than that which was then dominant."

"His first important literary and scholastic effort was a treatise On the Existence of God. Few fragments of it remain, but we are helped to understand him when we learn that he asserted, and to the end of his life maintained, his belief in an Almighty Creator and Upholder of the Universe. It did, indeed, at a later period suit the purposes of his enemies, exasperated by his tolerant spirit and his reforming plans, to proclaim him an atheist; but that sort of charge has been the commonest of missiles against troublesome thinkers in all times."

"He now, in 1749, at the age of twenty two, wrote... a letter which has been an object of wonder among political thinkers ever since. Its subject was paper money. Discussing the ideas of John Law, and especially the essay of Terrasson which had supported them, he dissected them mercilessly, but in a way useful not only in those times but in these."

"Turgot's attempt... showed how the results that had followed Law's issues of paper money must follow all such issues. As regards currency inflation, Turgot saw that the issue of paper money beyond the point where it is convertible into coin is the beginning of disaster — that a standard of value must have value, just as a standard of length must have length, or a standard of capacity, capacity, or a standard of weight, weight. He showed that if a larger amount of the circulating medium is issued than is called for by the business of the country, it will begin to be discredited, and that paper, if its issue be not controlled by its relation to some real standard of value, inevitably depreciates no matter what stamp it bears. Turgot developed his argument with a depth, strength, clearness, and breadth, which have amazed every dispassionate reader from that day to this. It still remains one of the best presentations of this subject ever made; and what adds to our wonder is that it was not the result of a study of authorities, but was worked out wholly from his own observation and thought. Up to this time there were no authorities and no received doctrine on the subject; there were simply records of financial practice more or less vicious; it was reserved for this young student, in a letter not intended for publication, to lay down for the first time the great law in which the modern world, after all its puzzling and costly experiences, has found safety."

"La soumission aux données de l'expérience est la règle d'or qui domine toute discipline scientifique."

"Any author who uses mathematics should always express in ordinary language the meaning of the assumptions he admits, as well as the significance of the results obtained. The more abstract his theory, the more imperative this obligation. In fact, mathematics are and can only be a tool to explore reality. In this exploration, mathematics do not constitute an end in itself, they are and can only be a means."

"Anyone who dares to speak about an aether is regarded as an ignorant and backward mind and he can only lose his credibility in scientific circles, although in reality those who criticize him use the same concept of intermediate medium in other words, whether it be fields, an associated fluid, a probability fluid, a pilot fluid, a quantum fluid, etc."

"A theory is only as good as its assumptions. If the premises are false, the theory has no real scientific value. The only scientific criterion for judging the validity of a scientific theory is a confrontation with the data of experience."

"Too many theorists have a tendency to ignore facts that contradict their convictions."

"In fact, without any exaggeration, the current mechanism of money creation through credit is certainly the "cancer" that's irretrievably eroding market economies of private property."

"A science only advances with certainty, when the plan of inquiry and the object of our researches have been clearly defined; otherwise a small number of truths are loosely laid hold of, without their connexion being perceived, and numerous errors, without being enabled to detect their fallacy."

"The manner in which things exist and take place, constitutes what is called the nature of things; and a careful observation of the nature of things is the sole foundation of all truth."

"With respect to the present time, there are few persons who unite the qualifications of good observers with a situation favourable for accurate observation."

"Nothing can be more idle than the opposition of theory to practice!"

"Political economy has only become a science since it has been confined to the results of inductive investigation."

"What can we expect from nations still less advanced in civilization than the Greeks?"

"It is, perhaps, a well founded objection to Mr. Ricardo, that he sometimes reasons upon abstract principles to which he gives too great a generalization."

"How many other opinions, as universally prevailing and as much respected, will in like manner pass away?"

"The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labour of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants."

"But, is it possible for princes and ministers to be enlightened, when private individuals are not so?"

"With no fixed opinions in relation to the causes of public prosperity, the nation, like a ship without chart or compass, was driven about by the caprice of the winds and the folly of the pilot, alike ignorant of the place of her departure or destination."

"Still how unenlightened and ignorant are the very nations we term civilized!"

"The quantity of money, which is readily parted with to obtain a thing is called its price."

"No human being has the faculty of originally creating matter, which is more than nature itself can do. But any one may avail himself of the agents offered him by nature, to invest matter with utility."

"The wants of mankind are supplied and satisfied out of the gross values produced and created, and not out of the net values only."

"Capital in the hands of a national government forms a part of the gross national capital."

"Capital must work, as it were, in concert with industry; and this concurrence is what I call the productive agency of capital."

"When a tree, a natural product, is felled, is society put into possession of no greater produce than that of the mere labour of the woodman?"

"Labour, upon whichever of those operations it be bestowed, is productive, because it concurs in the creation of a product. Thus the labour of the philosopher, whether experimental or literary, is productive; the labour of the adventurer or master-manufacturer is productive, although he perform no actual manual work; the labour of every operative workman is productive, from the common day-labourer in agriculture, to the pilot that governs the motion of a ship."

"The celebrated Adam Smith was the first to point out the immense increase of production, and the superior perfection of products referable to this division of labour."

"To have never done anything but make the eighteenth part of a pin, is a sorry account for a human being to give of his existence."

"A shop-keeper in good business is quite as well off as a pedlar that travels the country with his wares on his back. Commercial jealousy is, after all, nothing but prejudice: it is a wild fruit, that will drop of itself when it has arrived at maturity."

"The love of domination never attains more than a factitious elevation, that is sure to make enemies of all its neighbours."

"There is no security of property, where a despotic authority can possess itself of the property of the subject against his consent. Neither is there such security, where the consent is merely nominal and delusive."

"A man who applies his labour to the investing of objects with value by the creation of utility of some sort, can not expect such a value to be appreciated and paid for, unless where other men have the means of purchasing it. Now, of what do these means consist? Of other values of other products, likewise the fruits of industry, capital, and land. Which leads us to a conclusion that may at first appear paradoxical, namely, that it is production which opens a demand for products."

"The United States will have the honour of proving experimentally, that true policy goes hand in hand with moderation and humanity."

"The encouragement of mere consumption is no benefit to commerce; for the difficulty lies in supplying the means, not in stimulating the desire of consumption; and we have seen that production alone, furnishes those means. Thus, it is the aim of good government to stimulate production, of bad government to encourage consumption."

"I have made no distinction between the circulation of goods and of money, because there really is none."

"The day will come, sooner or later, when people will wonder at the necessity of taking all this trouble to expose the folly of a system, so childish and absurd, and yet so often enforced at the point of a bayonet."

"A tax can never be favorable to the public welfare, except by the good use that is made of its proceeds."

"Freedoms and apprenticeships are likewise expedients of police,not of that wholesome branch of police, whose object is the maintenance of the public and private security, and which is neither costly nor vexatious; but of that sort of police which bad governments employ to preserve or extend their personal authority at any expense."

"regulation is useful and proper, when aimed at the prevention of fraud or contrivance, manifestly injurious to other kinds of production, or to the public safety, and not at prescribing the nature of the products and the methods of fabrication."

"Some writers maintain arithmetic to be only the only sure guide in political economy; for my part, I see so many detestable systems built upon arithmetical statements, that I am rather inclined to regard that science as the instrument of national calamity."

"Nothing is more dangerous in practice, than an obstinate, unbending adherence to a system, particularly in its application to the wants and errors of mankind."

"What is the motive which operates in every man's breast to counteract the impulse towards the gratification of his wants and appetites?"

"The ancients, by their system of colonization, made themselves friends all over the known world; the moderns have sought to make subjects, and therefore have made enemies."

"What would people think of a tradesman, that was to give a ball in his shop, hire performers, and hand refreshments about, with a view to benefit his business?"

"At Newfoundland, it is said, that dried cod performs the office of money,"

"And let no government imagine, that, to strip them of the power of defrauding their subjects, is to deprive them of a valuable privilege. A system of swindling can never be long lived, and must infallibly in the end produce much more loss than profit."

"Wherefore it is impossible to succeed in comparing wealth of different eras or different nations. This, in political economy, like squaring the circle in mathematics, is impracticable, for want of a common mean or measure to go by."

"Law has been unjustly charged with the whole blame of the calamities resulting from the scheme that bears his name."

"Valuation is vague and arbitrary, when there is no assurance that it will be generally acquiesced in by others."

"Demand and supply are the opposite extremes of the beam, whence depend the scales of dearness and cheapness; the price is the point of equilibrium, where the momentum of the one ceases, and that of the other begins."

"One product is always ultimately bought with another, even when paid for in the first instance with money."

"A much larger value is consumed in lettuces than in pineapples, throughout Europe at large; and the superb shawls of Cachemere are, in France, a very poor object in trade, in comparison with the plain cotton goods of Rouen."

"Whence it is evident that the remedy must be adapted to the particular cause of the mischief; consequently, the cause must be ascertained, before the remedy is devised."

"But what must be the character of that policy, which aims at national prosperity through the impoverishment of a large proportion of the home producers, with a view to supply foreigners at a cheaper rate, and give them all the benifet of the national privation and self denial?"

"The theory of interest was wrapped in utter obscurity, until Hume and Smith dispelled the vapor."

"capital cannot be more beneficially employed, then in strengthening and aiding the productive powers of nature."

"The sea and wind can at the same time convey my neighbour's vessel and my own."

"Capital can seldom be made productive, without undergoing several changes both of form and of place, the risk of which is always more or less alarming to persons unaccustomed to the operations of industry; whereas, on the contrary, landed property produces without any change of either quality or position."

"It is a melancholy but an undoubted fact, that, even in the most thriving countries, part of the population annually dies of mere want. Not that all who perish from want absolutely die of hunger; though this calamity is of more frequent occurrence than is generally supposed."

"The most effectual encouragement to population is, the activity of industry, and the consequent multiplication of the national products."

"All travellers agree that protestant are both richer and more populous than catholic countries;and the reason is, because the habits of the former are more conducive to production."

"Opulent, civilized, and industrious nations, are greater consumers than poor ones, because they are infinitely greater producers."

"In times of political confusion, and under an arbitrary government, many will prefer to keep their capital inactive, concealed, and unproductive, either of profit or gratification, rather than run the risk of its display. This latter evil is never felt under a good government."

"The luxury of ostentation affords a much less substantial and solid gratification, than the luxury of comfort, if I may be allowed the expression."

"A nation or an individual, will do wisely to direct consumption chiefly to those articles, that are longest time in wearing out, and the most frequently in use."

"The difficulty lies, not in finding a producer, but in finding a consumer."

"The government has, in all countries, a vast influence, in determining the character of the national consumption; not only because it absolutely directs the consumption of the state itself, but because a great proportion of the consumption of individuals is gained by its will and example."

"It is doubtless very desirable, that private persons should have a correct knowledge of their personal interests; but it must be infinitely more so, that governments should possess that knowledge."

"When war becomes a trade, it benefits, like all other trades, from the division of labour."

"Dominion by land or sea will appear equally destitute of attraction, when it comes to be generally understood, that all its advantages rest with the rulers, and that the subjects at large derive no benefit whatever."

"Every individual, from the common mechanic, that works in wood or clay, to the prime minister that regulates with the dash of his pen the agriculture, the breeding of cattle, the mining, or the commerce of a nation, will perform his business the better, the better he understands the nature of things,and the more his understanding is enlightened."

"An uniformity of weights and measures, arranged upon mathematical principles, would be a benefit to the whole commercial world, if it were wise enough to adopt such an expedient."

"If the community wish to have the benefit of more knowledge and intelligence in the labouring classes, it must dispense it at the public charge."

"The wealthy are generally impressed with an idea, that they shall never stand in need of public charitable relief; but a little less confidence would become them better."

"The best scheme of finance is, to spend as little as possible; and the best tax is always the lightest."

"Taxation being a burthen, must needs weigh lightest on each individual, when it bears upon all alike."

"The occupation of the stock-jobber yields no new or useful product; consequently having no product of his own to give in exchange, he has no revenue to subsist upon, but what he contrives to make out of the unskilfulness or ill-fortune of gamesters like himself."

"A treasure does not always contribute to the political security of its possessors. It rather invites attack, and very seldom is faithfully applied to the purpose for which it was destined."

"The command of a large sum is a dangerous temptation to a national administration. Though accumulated at their expense, the people rarely, if ever profit by it: yet in point of fact, all value, and consequently, all wealth, originates with the people."

"The optimist believes that this is the best of all possible worlds, and the pessimist fears that this might be the case."

"We do not discover mathematical truths; we remember them from our passages through this world outside our own."

"The world is full, at every scale, and every scale ignores the higher and lower ones."

"So every possible reality, once God gives it existence, will reveal its own identity. Its life will unfold slowly, whereas God encompasses it at a single glance."

"Nowadays, however, we are much more aware of the fact that the best proof in the world is worth no more than its premises: every scientific theory is transitory and provisional, in wait for a better one, and accepted only as long as the experimental results conform to its predictions."

"It is a testimony to the power of education that classical mechanics could operate for so long under a mistaken conception. Teaching and research concentrated on integrable systems, each feeding the other, until in the end we had no longer the tools nor the interest for studying nonintegrable systems."

"The transition from integrable to non integrable systems is quiet interesting to observe."

"If there is a God, he has left no tracks in the laws of physics; or if he has, he has covered them up very well."

"Chaos cuts with two edges. We have seen how it is impossible to retrieve past history from current observations. We will now show that it is impossible to predict future states from the current observations."

"Many great failures and many great successes are due to chance and not to human folly or ingenuity."

"An equilibrium is not always an optimum; it might not even be good. This may be the most important discovery of game theory."

"In the struggle for life, or in the struggle for power, there is no reason why their victory would make the world better than it was. There is no invisible hand guiding these processes, dealing out victory to the most deserving. Chance is their leader."

"The measurement of time was the first example of a scientific discovery changing the technology."

"The moment when the scientists became engineers was a historical turning point."

"The social world is not driven by natural laws and randomness alone, as the physical world is, but also by human wills."

"Power is no linger seen as inheriting its legitimacy from some divine authority; it is a mere convention which we adhere to because we are born and educated into it, and because we see others conform to it. Its strength lies in the fact that we believe that others believe in it: power is no more than the illusion of power. The exercise of power is a constant fight to keep up appearances."

"Well, it has been a long time since manna last fallen from heaven. We cannot live alone; we rely on others to produce the stuff of our material and intellectual life, and we have to organize society so that its members will cooperate toward the common good."

"What is needed is courage: it is always so much easier to accept what you are being told than to think for yourself."

"La politique est … la science de la production."

"No man has a right to free himself from the law of labour"

"True equality consists in each drawing benefits from society in exact proportion to his social outlay, that is to his real capacity, to the beneficent use he makes of his abilities. And this equality is the natural foundation of industrial society."

"Equality is the natural foundation of industrial society"

"In the old system Society is governed essentially by men; in the new it is governed only by principles"

"[A]ujourd'hui … [i]l est question, pour la première fois depuis l'existence des sociétés, d'organiser un système tout-à-fait nouveau, de remplacer le céleste par le terrestre, le vague par le positif, le poétique par le réel."

"[J]e me propose en m'adressant à différentes fractions de l'humanité, que je divise en trois classes: la première, celle à laquelle vous et moi avons l'honneur d'appartenir, marche sous l'étendard des progrès de l'esprit humain; elle marche sous l'étendard des progrès de l'esprit humain; elle est composée des savants, des artistes et de tous les hommes qui ont des idées libérales. Sur la bannière de la seconde il est écrit: point d'innovation; tous les propriétaires qui n'entrent point dans la première sont attachés à la seconde. La troisième, qui se rallie au mot égalité, renferme le surplus de l'humanité."

"Le philosophe se place au sommet de la pensée; de là il envisage ce qu'a été le monde et ce qu'il doit devenir. Il n'est pas seulement observateur, il est acteur; il est acteur du premier genre dans le monde moral, car ce sont ses opinions sur, car ce sont ses opinions sur ce que le monde doit devenir qui règlent la société humaine."

"La société tout entière repose sur l'industrie. L'industrie est la seule garantie de son existence, la source unique de toutes les richesses et de toutes les prospérités. L'état de choses le plus favorable à l'industrie est donc par cela seul le plus favorable à la Société."

"We regard society as the ensemble and union of men engaged in useful work. We can conceive of no other kind of society."

"Since governmental activity may be deemed a service which is useful to society, society should consent to pay for this service."

"It was in America, while I was fighting for the cause of industrial liberty, that I first felt the desire to see this plant from another world flower in my own country. This desire has since dominated all my thinking. Without respite I studied the course of advancement and further assured myself that the progress of civilisation could have no other end. And I invoked this aim of true liberty, true public happiness, with my most fervent hopes. For me every event that seemed to point in that direction was a new joy, a new hope. The French Revolution broke out, and at first it seemed to be thoroughly industrial. But it soon lost that character, and the many noble efforts which ought to have produced liberty resulted only in the tyranny of the Jacobins and military despotism. A happier age has now started to dawn for us: at last a government has been established which declares its own power to be based on the power of opinion. Ever since then France has yielded to common sense, that is, to the free discussion of its common interests."

"It may be argued that writers stick to their convictions and serve only the truth, and that they only approve and support governmental conduct when they judge it to be in the interests of the governed. We accept that. We know that even those writers working under the eyes and under the influence of the Government always work, or at least claim to work only for society as a whole, and would be offended if it were thought otherwise. Nevertheless, we are convinced that the governed know better than anyone what they want and what is in their interest. We believe that government is at least an unnecessary intermediary between those who think about the public interest and those who feel it, between political writers and industry."

"The progress of the human mind, the revolutions which occur in the development of knowledge, give each century its special character."

"The philosophy of the last century was revolutionary ; that of the nineteenth century must be constructive. Lack of institutions leads to the destruction of all society; outworn institutions prolong the ignorance and the prejudices of the times which produce them. Shall we be forced to choose between barbarism and stupidity? Writers of the nineteenth century, you alone can avert this frightful dilemma."

"After a violent convulsion Europe fears fresh disasters, and feel the end for a long repose; the sovereigns of all the European nations are assembled to give her peace. All of them seem to desire peace, all are famed for their wisdom, yet they will not reach their goal. I have asked myself why all the efforts of the statesmen are powerless against the evils which afflict Europe, and I have perceived that there is no salvation for Europe except through a general reorganization. I have thought out a plan of reorganization: the explanation of this plan is the subject of this work."

"To colonize the world with the European race, which is superior to every other race: to make the world accessible and habitable like Europe—such is the sort of enterprise by which the European Parliament should continually keep Europe active and happy"

"Saint-Simon was the founder of corporatism, or at least of technocracy. It is in Saint-Simon that we find the identification of the categories life, or society, with industry. Saint-Simon helps to generate a theme which subsequently pervades all socialist traditions, for he raises the issue of status or legitimacy of citizenship with reference to productivity. Saint-Simon's hoped-for world is not only one where those who do not work shall not eat; it is also a place where they absolutely shall not rule. As Paul Ricoeur points out, Saint-Simon leaves a legacy which affects all socialisms, for he introduces into social theory (he theme of idleness and parasitism as social problems consequent on the evasion of the central social responsibility ascribed to citizens: the duty to be productive. Saint-Simon then adds his second profound message – that the elimination of the social problem of parasitism can finally lead to the disappearance of the state. For the logic of Saint-Simon is that the only legitimate social functions are those of production, and those of the scholarship which aids production. It is no accident that this corporatist utopia is today defended by western labour movements, for it exhausts the contemporary utopic vision of citizenship – good citizens are those who either boost Gross National Product or who conduct Wissenschaft as part of that process. For Saint-Simon was indeed to argue that 'Politics is the science of production'; here there is a politics of economic interests, but no other politics. Thus the second legacy – for where there is no politics, there need be no state, or at least no state conventionally defined. Saint-Simon proposes that there ought henceforth to be three chambers of government, functionally defined and solely directed to the national productive task." Politics would thus become administration, society would become a technocratic utopia untroubled by the routine vicissitudes of everyday life as encountered by the 'unproductive' masses. Bourgeoisie and proletariat would be locked into perpetual embrace, while parasites rich and poor alike would wither and government along with them. For the new society would only have hands, head and heart, and the parasites would be expelled by the body corporate."

"Saint-Simon was the prophet of meritocracy, seeking to reorder society in the image of the new chessboard he had designed for revolutionary France, with a hierarchy in which the king was replaced by a figure called Talent."

"In contrast with Babeuf, the French theorist the Comte de Saint-Simon was no believer in equality, but he has some claim to be regarded as the ‘founder of modern theoretical socialism, conceived not merely as an ideal but as the outcome of a historical process’. Saint-Simon believed that free economic competition produced poverty and crises and that society was moving inexorably to a stage when its affairs would be planned in accordance with social needs. He was resolutely opposed to violence and held that the most educated section of society would become convinced of the necessity of the development of more rational administration, based upon the application of science, and that other social groups would be won over to an appreciation of such a development. Although Saint-Simon’s was the first form of socialism to which the young Karl Marx was introduced – by his future father-in-law, Ludwig von Westphalen – Marx was later to pour scorn on Saint-Simon’s followers on account of their utopianism, commitment to peaceful change and trust in the possibility of class cooperation rather than the inevitability of class struggle."

"[Count Henri de Saint-Simon] was for a time supported by his former valet, whose function had been—so the Saint-Simonian legend says, and it is not hard to believe—to rouse the count each day with the words, "Get up, my lord, you have great things to do today!""

"A religion of life had come to replace a religion of penance and emaciation, of fasting and prayer. The crucified body had risen in its turn and was no longer abashed Man had reached a harmonious unity: he had discovered that he is a single being not made, like a pendulum, of two different metals, that check each other; he realised that the foe in his members had ceased to exist."

"Of the "utopian socialists," to use Marx's label, Saint-Simon was the most accurate forecaster of the politics and economics of industry. Rational, worldwide territorial planning is implied in Saint-Simon's system..."

"Saint-Simon was the first to emphasize the efficiency of huge industrial undertakings and argued that the government should actively intervene in production, distribution, and commerce in the interest of promoting the welfare of the masses. He sanctioned both private property and its privileges as long as they were used to promote the welfare of the masses."

"The man who was born Claude Henri de Rouvroy, Comte de Saint-Simon, and who died in poverty surrounded by a group of young disciples who looked upon him as the prophet of a new religion, must be considered something of an eccentric, as was Fourier, his younger contemporary. But, unlike the latter, whose origins and behavior were utterly bourgeois, Saint-Simon led a life as a cavalier as the name he renounced."

"Yet ideas about forcible equalization of status and property were catching the imagination of others. Although Napoleon Bonaparte imposed a personal dictatorship in 1799, France remained a forcing bed for revolutionary ideas well into the nineteenth century. Among the influential figures was Henry de St Simon. He and his followers called for the gathering of ‘instruments of labour, land and capital in a social fund.’ Hereditary wealth was to be expropriated. St Simon aimed at creating a vast ‘association of toilers’ who would be organized from above. They would be assigned tasks according to their talent and rewarded according to their work. St Simon’ doctrine envisaged an end to war and the start of an endless era of plenty for humankind. This was meant to come about through dutiful propaganda."

"Wisdom, virtue, morality, all these have fallen out of fashion: everybody worships at the shrine of commerce."

"Nowhere is there more constancy and more unanimity than among the French to subordinate that sex which they pretend to honor so highly."

"Ignorant as regards the unity of man with himself, the world is still more ignorant in respect to the two other unities - unity of man with God and the universe."

"All repressed passion produces its counter-passion which is as malevolent as the natural passion would be beneficial."

"The familial union presents as well a mixture of inconvenient ages and characters that inhibit conversation. Morality engenders a frigid atmosphere, as in all places where it reigns."

"IF the passions and characters of man were not subject, like the material kingdoms, to distribution in series of groups, man would be out of unity with the universe; there would be duplicity of system in creation, and incoherence between the material and the passional worlds. If man would attain to social uniy, he should seek for the means in the serial order, to which God has subject all nature."

"Nothing is more opposed to concord than the present condition of the domestic and salaried classes. By reducing this poor multitude to a condition very like slavery, civilization, on the rebound, imposes chains upon those who seem to dominate. Thus notables do not dare to amuse themselves openly at times when the people suffer from poverty. The rich are subject to individual as well as collective servitude. A wealthy man is often the slave of his valets. However in harmony the valet himself enjoys complete independence, while the rich are served with an assiduity and a devotion of which one sees not a trace in civilization."

"When we see civilization elated with this declining and decrepit phase of its career, we are reminded of a faded belle who, boasting of her attractions in her fiftieth year, excites at once the remark that she was fairer at twenty-five. So it is with civilization, which, dreaming of perfection and progress, is constantly deteriorating, and which will find but too soon in its industrial achievements new sources of political oppression, crimes and commotions."

"To speak frankly, the family bond in the civilizee regime causes fathers to desire the death of their children and children to desire the death of their fathers."

"If children are a joy for the well-to-do, they are a torment for seven-eights of all civlizees, who cannot afford to maintain and educate them."

"Marriage and dependent children are a trap for the people! Morality carefully hides this distressing truth from us because it knows no remedy for the evil. But I , who bring a remedy must not dissimulate the woes from fathers, and I must not dissimulate from society its radical vice of pushing seven-eighths of all families into evil practices through poverty."

"Those who have taken the planets to be inanimate bodies without function, limited to traveling geometric paths, resemble idiots who would believe that the brain is inanimate because it has no visible function, or that the stomach is idle because it does no visible work as do our limbs. Civilizees have always been reproached for believing nature to be limited to known effects. If the planets were not animate creatures endowed with functions, God would then appear to be an advocate of laziness. He would have created universes furnished with large inert bodies spending eternity in purposeless meandering as do the idlers in our society."

"Hitherto men have speculated vaguely on the unity of universes; it is now about to be demonstrated by reasoning from the passional world to material, guided by the analogy which exists between the two."

"The seeds of heavenly bodies are deposited and cared for in the Milky Way, from which they emanate in swarms of comets that travel a ;long time and ordinarily gravitate towards various suns before becoming fixed in orbit."

"Agricultural association, which in all ages has been deemed impossible, would produce results of unbounded magnificence the rigorous demonstrations, the mathematical calculations by which these results will be verified, will not, however, prevent the picture of the future harmony and happiness which they present from repelling minds habituated to the miseries and wretchedness of our present civilization."

"This miracle of social concord would result not from direct conciliation, which would be impossible, but from the development of new interests, and especially from the amazement with which the minds of men would be filled on being convinced of the radical falseness of the civilized social order by comparison with the associative or combined, and of the errors in which the social world has been so long plunged - misled by speculative philosophy, which upholds and extols this order with all its defects to the entire neglect of the study of association."

"There is no idea more novel, more surprising, than that of associating three hundred families of different degrees of fortune, knowledge and capacity."

"The possibility of associating two or three hundred families in agricultural and manufacturing industry depends upon a system so entirely different from what now exists, that it will open to the reader a new social world. He must consequently, in the study which opens before him, follow the guide with confidence, bearing constantly in min the gigantic results which will flow from association. Such results are well worth the sacrifice of a few prejudices. Every sensible reader will be of this opinion, and will concur to follow the advice which I shall constantly give, namely, to neglect the form and style of presentation, and occupy himself solely with the substance of the theory, seeking to determine whether the process of association is really discovered or not."

"There is a class of writers who are ever boasting of the progress of civilization and of the human mind in modern times. If we were to credit their pretensions, we should be led to believe that the science of society had reached its highest degree of perfection, because old metaphysical and economic theories have been somewhat refined upon. In answer to their boasts of social progress, it is not sufficient to refer to the deeply-rooted social evils which exist, and which prey upon our boasted civilized social order. We will mention but a single one, the frightful increase of national debts and of taxation."

"Religious minds, which are distrustful of philosophic dogmas, fall into the error - inculcated by philosophy - of supposing that Providence is limited in its action; that is does not extend to the social world or the social relations of mankind, and that God has not determined upon any plan of social organization for the regulation of those relations. If they had a PROFOUND FAITH IN THE UNIVERSALITY OF PROVIDENCE, they would be convinced that all human needs must have been foreseen and provided for, and especially that the most urgent of them all could not have been overlooked - namely, the need of a social order for the regulation of our industrial and social relations."

"The Turks teach women that they have no souls, and are unworthy to enter paradise. The French would persuade them that they have no intellects, and are not made to engage in mental labors, and to tread the paths of art and science."

"Woman is degraded and made to believe that nature destined her exclusively to menial domestic labors, which in the combined order will be so abridged as to be performed without oppression to either sex."

"You complain that the nature withholds from you a knowledge of her laws; but if you have been unable, to to present time, to discover them, why do you hesitate to admit the insufficiency of your methods and to invoke a new science, a new guide? Either nature does not desire the happiness of man, or your methods are condemned by her, since they have been unable to west from her the secret of which you are in pursuit. Do we find her frustrating the efforts of the natural philosophers as she does yours? no, because they study her laws instead of dictating laws to her; while you only study the art of stifling the voice of nature stifling attraction which is her interpreter, and the synthesis of which leads in every sense to association. What a contrast between your blunders and the achievements of the positive sciences! Every day, philosophers, you add new errors to the errors of the past, whereas we see the physical sciences daily advancing in the path of truth, and shedding as much luster upon the present century as your baseless vision have cast opprobrium upon the eighteenth."

"IT is but too true, that for five and twenty centuries since the political and moral sciences have been cultivated, they have done nothing for the happiness of mankind. They have tended only to increase human perversity, to perpetuate indigence, and to reproduce the same evils under different forms. After all their fruitless attempts to ameliorate the social order, there remains to the authors of these sciences only the conviction their utter incompetency. The problem of human happiness is one which they have been wholly unable to solve. Meanwhile a universal restlessness attests that mankind has not attained to the destiny to which nature would lead it, and this restlessness would seem to presage some great event m which shall radically change its social condition. The nations of the earth harassed by misfortune, and so deceived by political empirics, still hope for a better future, and resemble the invalid who looks for a miraculous cure. Nature whispers in the ear of the human race, that for it is reserved a happiness, the means of attaining which are now unknown, and that some marvelous discovery will be made, which will suddenly dispel the darkness that now enshrouds the social world."

"As for civilization, from which at last we are about to escape, so far from being the social destiny of man, it is only a transient stage - a state of temporary evil with which globes are afflicted during the first ages of their career; it is for the human race a disease of infancy, like teething; but it is a disease which has been prolonged in our globe at least twenty centuries beyond its natural term, owing to the neglect on the part of the ancient philosophy to study association and passional attraction."

"There was very little that prevented the vandalism of 1793 from suddenly producing a second revolution as marvelous as the first was horrible. The whole human race was approaching its release; the civilized, barbarian, and savage order would have disappeared forever if the Convention, which trampled down all prejudices, had not bowed down before the only one that had to be destroyed, the institution of marriage."

"It is certain that nature inclines us toward the amorous orgy, just as much as toward the gastronomic orgy, and that while both are blameworthy in the excess, they would become praiseworthy in an order in which they could be equilibrated."

"An empire derives no advantage from the caresses of two turtledoves who spend a year cooing to each other in public meetings."

"Thirty years of lax budget policy (the Trente Dispendieuses) marked by soaring public spending in the 1980’s, the happy-go-lucky attitude of the 1990’s and finally, a policy of procrastination in the 2000’s characterised by the development of creative budgetary marketing strategies exclusively destined to delay the (always) socially and politically painful moment of addressing the accounts."

"At the end of the current five-year presidential term and the “Trente-Six Dispendieuses” (36 years of uninterrupted deficits from 1981 to 2017) far-reaching public expenditure reforms will be required. These will be all the more painful as they are far too late."

"The government is making another mistake, although purely ideological this time, by thinking about the responsibility pact in terms of contracts that would give rise to reciprocal concessions from companies. Indeed, the government cannot negotiate with companies because the decisions of business leaders are always individual. They are not civil servants working to orders, but free and lucid agents who make their decisions, particularly on investment and job creation, by individually assessing their risks based on the stability of the environment and the favourable outlook for returns on investment. By contrast, an effective government can, and must, create the right circumstances for investment decisions to generate the conditions for growth."

"Despite a relative control over expenditure in 2013, the persistence of a very high public deficit (4.3%) was mainly due to an unprecedented and unexpected drop in tax revenue which confirms the existence of a tax tolerance threshold, specific to each country, and which may have been reached in France. Above this threshold, any tax increase has a counterproductive effect as compulsory taxes stifle activity by further weakening the economy’s growth potential."

"In the developed world taxation is always a political construct, a living organism that is always changing due to endless modifications imposed by lawmakers who are themselves sensitive to the public mood and to changes in social ideology. This is a haphazard scaffolding without an architect that lacks rationality and coherency, with tax and social expenditures- referred to here as social and tax expenditures - constituting a superstructure that is all the more complex given its roots in a tax system whose benchmark standards are subject to innumerable exceptions."

"In developed countries, successive governments have always acted like firemen putting out fires instead of architects designing new buildings. The tax loopholes they have created are responses to emotions provoked by a given event, or an attempt to ease social tension caused by taxpayer exasperation (and/or reflecting their power). Any rational global management policy must satisfy two imperatives: simplicity; and stability."

"Structural reforms and respecting European treaties are the two pre-requisites to reduce deficits in the long-term and boost the economy’s potential growth rate which, at around 1%, is much lower than the government estimates (close to 4%). It is the French economy’s ‘corsets’ that are to blame for the country’s weak growth (both potential and recorded) which itself generates the deficits and not the austerity policies made necessary by galloping deficits as partisans of the so-called demand- led policy think. The French economy is primarily ill because of its public finances."

"Efficient financial regulation theories necessarily derive from lucid postulates about the general invariability of human nature, specifically where financial institution executives are involved (see the latest contributions from the field of evolutionary psychology). There is little chance that this will change much over the next few decades -but it is no use complaining, seeing as greed has always been (and will always be) one of the most powerful drivers of capitalist progress."

"An inherent paradox of intellectual activity is that reflection (i.e.the phase were a research project is trying to process a complex problem) can be very time-consuming . Unfortunately, it is only when researchers are driven by a sense of urgency that they can make real progress."

"The aptitudes needed to conduct a real research project are fundamentally different from the ones needed for purposes of scientific vulgarisation (like education). This is because above and beyond a capacity for understanding problems and thinking and expressing oneself clearly – something that every good teacher has –an enormous amount of perseverance and stamina is necessary, and above all a scientific approach rooted in real inventiveness."

"Common wisdom holds that the most complicated thing in the universe (asides fom the universe itself) is the human brain. In actual fact, however, other objects are even more complex – starting with human society, especially today’s hypermodern society, a product of thousands and even billions of human brains; not to forget globalisation and the Internet."

"Misapprehensions about the crucial question of whether Management constitutes a scientific discipline stem, in my view, from the multiplicity of perspectives involved: theoretical; normative; technical/educational; and practical. This makes is far too easy for critics to deride practical advice developed in this field, something they assimilate far too readily (and erroneously) with ready-made solutions, ignoring the epistemological vision underlying all management studies."

"Every measurable thing except numbers is imagined in the manner of a continuous quantity. Therefore, for the mensuration of such a thing, it is necessary that points, lines, and surfaces, or their properties, be imagined. For in them... measure or ratio is initially found... Therefore, every intensity which can be acquired successively ought to be imagined by a straight line perpendicularly erected on some point of the space or subject of the intensible thing, e.g., a quality... And since the quantity or ratio of lines is better known and is more readily conceived by us—nay the line is in the first species of continua, therefore such intensity ought to be imagined by lines... Therefore, equal intensities are designated by equal lines, a double intensity by a double line, and always in the same way if one proceeds proportionally."

"Since money belongs to the community … it would seem that the community may control it as it wills, and therefore may make as much profit from alteration as it likes, and treat money as its own property."

"I am of the opinion that the main and final cause why the prince pretends to the power of altering the coinage is the profit or gain which he can get from it."

"Whenever kingship approaches tyranny it is near its end, for by this it becomes ripe for division, change of dynasty, or total destruction, especially in a temperate climate … where men are habitually, morally and naturally free."

"People marvel at … things only because they rarely happen; but the causes for these are as apparent as for others … For example, at night a fearful man who sees a wolf in the fields, or a cat in his room, will immediately assert and judge that it is an enemy or a devil … because he fixes his imagination on these and fears them. And a person devout and rapt [in ecstasy] will judge that it is an angel … A vigorous imagining of a retained species, then, together with a small external appearance or with an imbalance of some internal disposition … produces marvelous appearances in healthy as well as in sick people."

"God in His infinite grandeur without any quantity and absolutely indivisible, which we call immensity, is necessarily all in every extension or space or place which exists or can be imagined."

"The heavenly bodies move with such regularity, orderliness, and symmetry that it is truly a marvel; and they continue always to act in this manner ceaselessly, following the established system, without increasing or reducing speed and continuing without respite, as the Scripture says: Summer and winter, night and day they never rest."

"It appears that here and there some of our modern ideas were anticipated by writers of the Middle Ages. Thus, Nicole Oresme... first conceived the notion of fractional powers, afterwards, rediscovered by Stevin, and suggested a notation [other than our modern notation]. Since 4^3 = 64 and 64^\frac{1}{2} = 8, Oresme concluded that 4^\frac{3}{2} = 8. Some of the mathematicians of the Middle Ages possessed some idea of a function. Oresme even attempted a graphic representation. But of a numeric dependence of one quantity upon another, as found in Descartes, there is no trace among them."

"Nicole Oresme introduced the important concept of graphical representations, or geometrical "configurations", of intensities of qualities. ...He proposes to measure the intensity of the quality at each point of the reference interval by a perpendicular line segment at that point, thereby constructing a graph with the reference interval as its base. ...He refers to the reference interval as its longitude, and its intensity at a point as its latitude or altitude there (perhaps adapting these terms from their geographical use). ...Oresme... provided the Merton Rule with a geometrical verification."

"Coordinates had been used in astronomy and geography since ... Oresme called his coordinates "longitude" and "latitude," but he seems to have been the first to use them to represent functions such as velocity as a function of time. Setting up the coordinates before determining the curve was Oresme's step beyond the Greeks, but he too lacked the algebra to go further."

"Perhaps the first to approach the fourth dimension from the side of physics, was the Frenchman, Nicole Oresme, of the fourteenth century. In a manuscript treatise, he sought a graphic representation of the Aristotelian forms, such as heat, velocity, sweetness, by laying down a line as a basis designated longitudo, and taking one of the forms to be represented by lines (straight or circular) perpendicular to this either as a latitudo or an altitudo. The form was thus represented graphically by a surface. Oresme extended this process by taking a surface as the basis which, together with the latitudo, formed a solid. Proceeding still further, he took a solid as a basis and upon each point of this solid he entered the increment. He saw that this process demanded a fourth dimension which he rejected; he overcame the difficulty by dividing the solid into numberless planes and treating each plane in the same manner as the plane above, thereby obtaining an infinite number of solids which reached over each other. He uses the phrase "fourth dimension" (4am dimensionem)."

"It is not true that on an exchange of commodities we give value for value. On the contrary, each of the two contracting parties in every case, gives a less for a greater value. … If we really exchanged equal values, neither party could make a profit. And yet, they both gain, or ought to gain. Why? The value of a thing consists solely in its relation to our wants. What is more to the one is less to the other, and vice versa. … It is not to be assumed that we offer for sale articles required for our own consumption. … We wish to part with a useless thing, in order to get one that we need; we want to give less for more. … It was natural to think that, in an exchange, value was given for value, whenever each of the articles exchanged was of equal value with the same quantity of gold. … But there is another point to be considered in our calculation. The question is, whether we both exchange something superfluous for something necessary."

"The art of reasoning is nothing more than a language well arranged."

"We shall not … begin this logic by definitions, axioms, or principles; we shall begin by observing the lessons which nature gives us."

"The tone in which an Englishman expresses anger would, in Italy, be only a mark of surprise."

"Our ideas are transformed sensations."

"To the eye of God there are no numbers: seeing all things at one time, he counts nothing."

"How do wealth- and capital-output ratios evolve in the long run, and why? Until recently it was difficult to properly address this question, for one simple reason: national accounts were mostly about flows, not stocks. Economists had at their disposal a large body of historical series on flows of output, income and consumption – but limited data on stocks of assets and liabilities. When needed, for example for growth accounting exercises, estimates of capital stocks were typically obtained by cumulating past flows of saving and investment. This is fine for some purposes, but severely limits the set of questions one can ask."

"I am trying to put the distributional question and the study of long-run trends back at the heart of economic analysis. In that sense, I am pursuing a tradition which was pioneered by the economists of the 19th century, including David Ricardo and Karl Marx. One key difference is that I have a lot more historical data. With the help of , , Facundo Alvaredo, Gilles Postel-Vinay, Jean-Laurent Rosenthal, Gabriel Zucman and many other scholars, we have been able to collect a unique set of data covering three centuries and over 20 countries. This is by far the most extensive database available in regard to the historical evolution of income and wealth. This book proposes an interpretative synthesis based upon this collective data collection project."

"We know something about billionaire consumption, but it is hard to measure some of it. Some billionaires are consuming politicians, others consume reporters, and some consume academics."

"In many ways, the US led the world toward the development of progressive taxation and the reduction of inequality at the global level during the first half of the 20th century... Unfortunately, one century later, in 2019, the rise of inequality creates new threats to liberal democracies. It is time to take a new step and to develop new policy instruments, in line with the challenges raised by global wealth trends."

"The distribution of wealth is one of today’s most widely discussed and controversial issues. But what do we really know about its evolution over the long term? Do the dynamics of private capital accumulation inevitably lead to the concentration of wealth in ever fewer hands, as Karl Marx believed in the nineteenth century? Or do the balancing forces of growth, competition, and technological progress lead in later stages of development to reduced inequality and greater harmony among the classes, as Simon Kuznets thought in the twentieth century? What do we really know about how wealth and income have evolved since the eighteenth century, and what lessons can we derive from that knowledge for the century now under way?"

"Modern economic growth and the diffusion of knowledge have made it possible to avoid the Marxist apocalypse but have not modified the deep structures of capital and inequality—or in any case not as much as one might have imagined in the optimistic decades following World War II."

"When the rate of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first, capitalism automatically generates arbitrary and unsustainable inequalities that radically undermine the meritocratic values on which democratic societies are based."

"Democracy will never be supplanted by a republic of experts – and that is a very good thing."

"Economists are all too often preoccupied with petty mathematical problems of interest only to themselves. This obsession with mathematics is an easy way of acquiring the appearance of scientificity without having to answer the far more complex questions posed by the world we live in."

"To put it bluntly, the discipline of economics has yet to get over its childish passion for mathematics."

"National income is defined as the sum of all income available to the residents of a given country in a given year, regardless of the legal classification of that income."

"Capital is defined as the sum total of nonhuman assets that can be owned and exchanged on some market."

"I can now present the first fundamental law of capitalism, which links the capital stock to the flow of income from capital. The capital/income ratio β is related in a simple way to the share of income from capital in national income, denoted α. The formula is"

"Broadly speaking, the rise of the supermanager is largely an Anglo-Saxon phenomenon."

"Whenever the rate of return on capital is significantly and durably higher than the growth rate of the economy, it is all but inevitable that inheritance (of fortunes accumulated in the past) predominates over saving (wealth accumulated in the present). ... The inequality r > g in one sense implies that the past tends to devour the future: wealth originating in the past automatically grows more rapidly, even without labor, than wealth stemming from work, which can be saved. Almost inevitably, this tends to give lasting disproportionate importance to inequalities created in the past, and therefore to inheritance."

"The overall importance of capital today, as noted, is not very different from what it was in the eighteenth century. Only its form has changed: capital was once mainly land but is now industrial, financial, and real estate. We also know that the concentration of wealth remains high, although it is noticeably less extreme than it was a century ago. The poorest half of the population still owns nothing, but there is now a patrimonial middle class that owns between a middle and a third of total wealth, and the wealthiest ten percent now own only-two thirds of what there is to own rather than nine-tenths."

"Let it be said at once: Trump’s victory is primarily due to the explosion in economic and geographic inequality in the United States over several decades and the inability of successive governments to deal with this."

"Both the Clinton and the Obama administrations frequently went along with the market liberalization launched under Reagan and both Bush presidencies. At times they even outdid them."

"The tragedy is that Trump’s program will only strengthen the trend towards inequality."

"The main lesson for Europe and the world is clear: as a matter of urgency, globalization must be fundamentally re-oriented. The main challenges of our times are the rise in inequality and global warming. We must therefore implement international treaties enabling us to respond to these challenges and to promote a model for fair and sustainable development. Agreements of a new type can, if necessary, include measures aimed at facilitating these exchanges. But the question of liberalizing trade should no longer be the main focus. Trade must once again become a means in the service of higher ends. It never should have become anything other than that."

"There should be no more signing of international agreements that reduce customs duties and other commercial barriers without including quantified and binding measures to combat fiscal and climate dumping in those same treaties."

"Ceta, the EU-Canada free trade deal, should be rejected. It is a treaty which belongs to another age. This strictly commercial treaty contains absolutely no restrictive measures concerning fiscal or climate issues. It does, however, contain a considerable reference to the “protection of investors”. This enables multinationals to sue states under private arbitration courts, bypassing the public tribunals available to one and all. The legal supervision proposed is clearly inadequate, in particular concerning the key question of the remuneration of the arbitrators-cum-referees and will lead to all sorts of abuses. At the very time when American legal imperialism is gaining in strength and imposing its rules and its dues on our companies, this decline in public justice is an aberration. The priority, on the contrary, should be the construction of strong public authorities, with the creation of a prosecutor, including a European state prosecutor, capable of enforcing their decisions."

"A balanced treaty between Canada and Europe, aimed at promoting a partnership for fair and sustainable development, should begin by specifying the emission targets of each signatory and the practical commitments to achieve these."

"It is time to change the political discourse on globalization: trade is a good thing, but fair and sustainable development also demands public services, infrastructure, health and education systems. In turn, these themselves demand fair taxation systems. If we fail to deliver these, Trumpism will prevail."

"The right seems unable to mount any kind of substantive counterattack to Mr. Piketty’s thesis. Instead, the response has been all about name-calling."

"Recently, prominent historians and economists, among them Walter Scheidel and Thomas Piketty, have argued persuasively that major wars can also act to narrow the gap between the rich and the poor and that the experience of the nations involved in the First and Second World Wars bears this out. Major wars stimulate employment; labour becomes more valuable so wages and benefits go up; and the rich pay higher taxes voluntarily, or find it harder to avoid doing so. At the end of destructive wars it is also easier to contemplate major programmes of reconstruction and social benefits and gain support for them. As William Beveridge, whose report laid the foundations for the British welfare state, wrote, ‘Now, when the war is abolishing landmarks of every kind, is the opportunity for using experience in a clear field. A revolutionary moment in the world’s history is a time for revolution, not for patching.’"

"L. Walras first formulated the state of the economic system at any point of time as the solution of a system of simultaneous equations representing the demand for goods by consumers, the supply of goods by producers and the equilibrium condition that supply equal demand on every market."

"Perhaps as important is the relation between the existence of solutions to a competitive equilibrium and the problems of normative or ."

"I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium."

"I say that things are useful whenever they can be put to any use at all; whenever they are seen to be capable of satisfying a want. In this connection, there is no need to consider the subtle shades of meaning classified in ordinary language under terms ranging from the necessary to the useful, from the useful to the agreeable, from the agreeable to the superfluous. For present purposes, necessary, useful, agreeable and superfluous simply mean more or less useful. Furthermore, we need not concern ourselves with the morality or immorality of any desire which a useful thing answers or serves to satisfy. From other points of view the question of whether a drug is wanted by a doctor to cure a patient, or by a murderer to kill his family is a very serious matter, but from our point of view, it is totally irrelevant. So far as we are concerned, the drug is useful in both cases, and may even be more so in the latter case than in the former."

"It took from a hundred to a hundred and fifty or two hundred years for the astronomy of Kepler to become the astronomy of Newton and Laplace, and for the mechanics of Galileo to become the mechanics of d'Alembert and Lagrange. On the other hand, less than a century has elapsed between the publication of Adam Smith’s work and the contributions of Cournot, Gossen, Jevons, and myself."

"L. Walras first formulated the state of the economic system at any point of time as the solution of a system of simultaneous equations representing the demand for goods by consumers, the supply of goods by producers and the equilibrium condition that supply equal demand on every market."

"The full recognition of the general equilibrium concept can unmistakably be attributed to Walras (1874-1877), although many of the elements of the neoclassical system were worked out independently by W. Stanley Jevons and by Carl Menger. In Walras' analysis, the economic system is made up of households and firms. Each household owns a set of resources, commodities useful in production or consumption, including different kinds of labor. For any given set of prices a household has an income from the sale of its resources, and with this income it can choose among all alternative bundles of consumers’ goods whose cost, at the given prices, does not exceed its income. Thus, Walras saw the demand by households for any consumers’ good as a function of the prices of both consumers’ goods and resources. The firms were — at least in the earlier versions — assumed to be operating under fixed coefficients. Then the demand for consumers’ goods determined the demand for resources; and the combined assumptions of fixed coefficients and zero profits for a competitive system implied relations between the prices of consumers’ goods and of resources. An equilibrium set of prices, then, was a set such that supply and demand were equated on each market; under the assumption of fixed coefficients of production, or more generally of constant returns to scale, this amounted to equating supply and demand on the resource markets, with prices constrained to satisfy the zero-profit conditions for firms. Subsequent work of Walras, J. B. Clark, Wicksteed, and others generalized the assumptions about production to include alternative methods of production, as expressed in a production function. In this context, the prices of resources were determined by marginal productivity considerations."

"I have now... part of the proofs of your work on the Theorie de la Ricliesse Sociale, which you have been so good as to send me... I cannot delay expressing the pleasure with which I find that we have by independent paths reached conclusions which are nearly if not quite the same. I flatter myself with the hope that... we have both reached the truth, which must be one. ...[A]fter seeing a full statement of your mode of arriving at the equations of exchange, I cannot for a moment entertain the least doubt of the entire independence of your own researches... As to the question of priority of publication, it is... of less importance than that of the truth of the theory... I have always... attached much importance to this mathematical theory of economy, believing it to be the only basis upon which an ultimate reform of the science... can be founded and a solution of many difficult problems effected. I cannot, therefore, help accepting your very kind offer to make known in the Journal des Economistes... that I had already gone over part of the same ground... in a different manner. ...I feel it to be most honourable in you, after seeing merely the brief sketch of my theory as printed in the Statistical Journal for 1866, to acknowledge at once my priority on some points; and I shall be glad to learn your opinion of the much fuller statement of my views contained in the Theory of Political Economy, of which I have lately posted you a copy. ...I shall have much pleasure in doing what I can to make known in England your own excellent statement of the theory of exchange ...I trust that the theory ...will thus become the origin ...between us of many friendly letters."

"In my opinion, Walras' theory of exchange and production is not the end and aim of his study but an overture to his general equilibrium theory of capital formation and circulation. Therefore, what we have to do first of all is to elaborate in economic, rather than mathematical terms his theory of growth and money, which in Walras' work was not complete. In reconsidering Walras from such a point of view, he appears as an economist who was comparable with Marx and who anticipated Keynes."

"The landmark figure in general equilibrium theory was French economist Léon Walras (1834–1910), whose complex simultaneous equations essentially created this branch of economics in the nineteenth century. Back in the eighteenth century, however, another Frenchman, François Quesnay (1694–1774), was groping toward some notion of general equilibrium with a complex table intersected by lines connecting various economic activities with one another. Karl Marx, in the second volume of Capital, likewise set forth various equations showing how particular parts of a market economy affected numerous other parts of that economy. In other words, Walras had predecessors, as most great discoverers do, but he was still the landmark figure in this field."

"Those skilled in mathematical analysis know that its object is not simply to calculate numbers, but that it is also employed to find the relations between magnitudes which cannot be expressed in numbers and between functions whose law is not capable of algebraic expression."

"The employment of mathematical symbols is perfectly natural when the relations between magnitudes are under discussion; and even if they are not rigorously necessary, it would hardly be reasonable to reject them, because they are not equally familiar to all readers and because they have sometimes been wrongly used, if they are able to facilitate the exposition of problems, to render it more concise, to open the way to more extended developments, and to avoid the digressions of vague argumentation."

"Anyone who understands algebraic notation, reads at a glance in an equation results reached arithmetically only with great labour and pains."

"In the act of exchange, as in the transmission of power by machinery, there is friction to be overcome, losses which must be borne, and limits which cannot be exceeded."

"So far we have studies how, for each commodity by itself, the law of demand in connection with the conditions of production of that commodity, determines the price of it and regulates the incomes of its producers. We considered as given and invariable the prices of other commodities and the incomes of other producers; but, in reality the economic system is a whole of which the parts are connected and react on each other. An increase in the incomes of the producers of commodity A will affect the demand for commodities Band C, etc., and the incomes of their producers, and, by its reaction will involve a change in the demand for A. It seems, therefore, as if, for a complete and rigorous solution of the problems relative to some parts of the economic system, it were indispensable to take the entire system into consideration. But this would surpass the powers of mathematical analysis and of our practical methods of calculation, even if the values of all the constants could be assigned to them numerically."

"There are many anticipators of marginal analysis. Three major names were Augustin Cournot (1801-1877), J. H. von Thünen (1783-1850), and H. H. Gossen (1810-1858). Cournot's originality and ingenuity can hardly be exaggerated. In 200 small pages, he described and defined the downward-sloping , completely analyzed the maximization of profit under conditions of monopoly, advanced an ingenious explanation of pricing, proved that equilibrium price occurred when equaled , and exactly defined the market from which we call perfect competition and he called "unlimited competition." And the book went unread."

"It took from a hundred to a hundred and fifty or two hundred years for the astronomy of Kepler to become the astronomy of Newton and Laplace, and for the mechanics of Galileo to become the mechanics of d'Alembert and Lagrange. On the other hand, less than a century has elapsed between the publication of Adam Smith’s work and the contributions of Cournot, Gossen, Jevons, and myself."

"Faith makes us live by showing us that life, although it is dependent upon reason, has its well spring and source of power elsewhere, in something supernatural and miraculous. Cournot the mathematician, a man of singularly well-balanced and scientifically equipped mind has said that it is this tendency towards the supernatural and miraculous that gives life, and that when it is lacking, all the speculations of reason lead to nothing but affliction of the spirit. ...And in truth we wish to live."

"In 1823 he took a license degree in mathematics at Sorbonne University. He then became the private secretary of a field marshal who required assistance in writing his memoirs. This position must have left Cournot with considerable time for his own pursuits, for in the course of his ten years in the field marshal's employment he took two doctoral degrees, one in mechanics and one in astronomy. In addition, he published a number of articles and even acquired a degree in law."

"The art of taxation consists in so plucking the goose as to procure the largest quantity of feathers with the least possible amount of hissing."

"It is simply, and solely, the abundance of money within a state [which] makes the difference in its grandeur and power."

"Que faut-il faire pour vous aider? Laissez-nous faire!"

"As a rigid logician, [Colbert] cannot object to the reduction of his principles to a logical absurdity, which may be stated thus. The growth of French industry and commerce requires that a high standard of quality in the products be maintained. This standard can only be secured by Government regulation: this regulation can only be forced on an unwilling people by search for and exposure of defective goods: this search injures the trade which it is desired to promote, and disheartens the merchants and others whose zealous cooperation is of the last importance for the success of French industry and commerce. Of course the fallacy lies in the first statement, the assumption that an absolute standard of excellence exists, and that the producer is a better judge of it than the consumer."

"Sans la certitude de la propriété, le territoire resterait inculte."

"You recognize but one rule of commerce; that is (to avail myself of your own terms) to allow free passage and freedom of action to all buyers and sellers whoever they may be."

"Calculations are to the economic science what bones are to the human body. Without them it will always be a vague and confused science, at the mercy of error and prejudice."

"To secure the greatest amount of pleasure with the least possible outlay should be the aim of all economic effort... when everyone does this the natural order, instead of being endangered, will be all the better assured."

"Mr. Smith was well known to M. Quesnai, the profound and original author of the Economical Table; a man (according to Mr. Smith's account of him) "of the greatest modesty and simplicity;" and whose system of political economy he has pronounced, "with all its imperfections," to be "the nearest approximation to the truth that has yet been published on the principles of that very important science." If he had not been prevented by Quesnai's death, Mr. Smith had once an intention (as he told me himself) to have inscribed to him his Wealth of Nations."

"François Quesnay was the leading figure of the Physiocrats, generally considered to be the first school of economic thinking. The name “Physiocrat” derives from the Greek words phýsis, meaning “nature,” and kràtos, meaning “power.” The Physiocrats believed that an economy’s power derived from its agricultural sector. They wanted the government of Louis XV, who ruled France from 1715 to 1774, to deregulate and reduce taxes on French agriculture so that poor France could emulate wealthier Britain, which had a relatively laissez-faire policy. Indeed, it was Quesnay who coined the term “laissez-faire, laissez-passer.”"

"I refuse to start from the assumption that the role of monetary policy is to control and stabilize inflation. The only acceptable way to start is, I believe, to think of the goal of monetary policy, together with fiscal policy,as the maximization of welfare."

"Crises feed uncertainty. And uncertainty affects behaviour, which feeds the crisis."

"Using the popular macroeconomic models of the time, Lucas and Sargent showed how replacing traditional assumptions about expectations formation by the assumption of rational expectations could fundamentally alter the results.... Most macroeconomists today use rational expectations as a working assumption in their models and analyses of policy. This is not because they believe that people always have rational expectations. Surely there are times when people, firms, or financial market participants lose sight of reality and become too optimistic or too pessimistic... But these are more the exception than the rule, and it is not clear that economists can say much about those times anyway. When thinking about the likely effects of a particular economic policy, the best assumption to make seems to be that financial markets, people, and firms will do the best they can to work out the implications of that policy. Designing a policy on the assumption that people will make systematic mistakes in responding to it is unwise."

"Lucas and Sargent’s main argument was that Keynesian economics had ignored the full implications of the effect of expectations on behavior. The way to proceed, they argued, was to assume that people formed expectations as rationally as they could, based on the information they had. Thinking of people as having rational expectations had three major implications, all highly damaging to Keynesian macroeconomics. ... The first implication was that existing macroeconomic models could not be used to help design policy. … The second implication was that when rational expectations were introduced in Keynesian models, these models actually delivered very un-Keynesian conclusions. … The third implication was that if people and firms had rational expectations, it was wrong to think of policy as the control of a complicated but passive system. Rather, the right way was to think of policy as a game between policy makers and the economy. … To summarize: When rational expectations were introduced, Keynesian models could not be used to determine policy; Keynesian models could not explain long-lasting deviations of output from the natural level of output; the theory of policy had to be redesigned, using the tools of game theory."

"I found myself obliged, through perhaps unique circumstances, to devote myself to my mathematical research, almost without help, advice or even books... Endlessly occupied by a thousand different matters and constrained my state duties, it is the work of an engineer that I herewith present and not the fruit of the meditations of a savant."

"It is to the director of workshops and factories that it is suitable to make, by means of geometry and applied mechanics, a special study of all the ways to economize the efforts of workers... For a man to be a director of others, manual work has only a secondary importance; it is his intellectual ability (force intellectuelle) that must put him in the top position, and it is in instruction such as that of the Conservatory of the Arts and Professions, that he must develop it."

"For 12 years I have had the honor of teaching geometry and mechanics applied to the arts, in favor of the industrial class... on the most important questions to the well-being, education, and morality of the workers, to the progress of national industry, to the development of all means of prosperity that work can produce for the splendor and happiness of our country."

"In the following work, I have endeavoured to exhibit the full extent of the Military and Naval Forces which the government of Great Britain can bring into the field, or launch upon the ocean. I have likewise described the connection of these forces with the government of the country, and also the discipline usually exercised in order to produce a hardihood in battle, invulnerable to fear and unassailable by cowardice. My observations on these subjects were derived from a residence of five years in England; during which time I was constantly employed in visiting and viewing every object and institution worthy of notice relative to the British Army and Navy."

"This is what it behoves us to know: as Frenchmen, for the advantage of France; as friends of all humanity, by that just and generous sentiment which makes us feel interest in the dignity, the peace, the independence, the happiness of all nations, on whatever spot of the globe nature may have placed their country."

"The successes obtained in the government of the arts, are similar to the successes obtained in the government of men. We may succeed for a time, by fraud, by surprise, by violence: we can succeed permanently only by means directly opposite. It is not alone the courage, the intelligence, the activity of the manufacturer and the merchant which maintain the superiority of the productions and the commerce of their country; it is far more their wisdom, their economy, above all their probity."

"If ever, in the British Islands, the useful citizen should lose these virtues, we may be sure, that for England as well as for any other country, notwithstanding the protection of the most formidable navy, notwithstanding the foresight and activity of diplomacy the most extended, and of political science the most profound, the vessels of a degenerate commerce, repulsed from every shore would speedily disappear from those seas whose surface they now cover with the treasures of the universe, bartered for the treasures of the industry of the three kingdoms."

"Amongst the important results of the recent attempts to extend Science to the labouring classes, maybe ranked the elementary treatises published by Baron Dupin. Possessing an extraordinary fund of scientific information, as well as of practical knowledge collected during a period of twenty years, in the workshops and manufacturing establishments of the most enlightened nations of Europe, combined with a singular degree of clearness, elegance, and ingenuity, in mathematical and physical expositions, this distinguished individual might have continued to delight and instruct inquirers of the highest description, by works classical and profound, but without having witnessed the occurrences alluded to, he might never have directed his attention and his efforts to this most interesting object, the improvement of humble and neglected intellect."

"The total extent to which steam power is applied in Great Britain was estimated by Baron Dupin, 1825, to be equivalent to the power of 320,000 horses in constant action; and since that period it has prodigiously increased, independently of our rapidly extending railways. To this immense command of power our country owes much of its commercial prosperity, besides a vast addition to the comforts and conveniences of life."

"Of the early management pioneers, history has provided us with the best records for four men: Robert Owen, Charles Babbage, Andrew Ure, and Charles Dupin... Ure knew the French engineer and management writer Charles Dupin, and when Dupin visited Great Britain in 1816–1818, Ure escorted him around the Glasgow factories. Dupin commented that many of the managers of these factories were Ure’s own students."

"The first appears to have been made by Baron Charles Dupin in 1826 to illustrate an address to the Conservatoire des Arts et Metiers in Paris. The map shows the number of persons per male child in school for each department and is the first moral ."

"In the 19th century, the French geometer Charles Pierre Dupin discovered a nonspherical surface with circular lines of curvature. He called it a cyclide in his book, Applications de Geometrie published in 1822. Recently, cyclides have been revived for use as surface patches in computer aided geometric design (CAGD). Other applications of eyelides in CAGD are possible (e.g., variable radius blending) and require a deep understanding of the geometry of the cyclide."

"Charles Dupin's Discourse on the Condition of the Workers (1873) introduced such concepts as time study and balanced ."

"The system in place in the countries of the historic imperialist triad (the United States, Western Europe, Japan) is based on the exercise of the absolute power of the national financial oligarchies concerned. They alone manage the whole of the national productive systems, having succeeded in reducing almost all small and medium-sized enterprises in agriculture, industry, and services to the status of subcontractors for the exclusive benefit of financial capital."

"These oligarchies alone manage the political systems inherited from bourgeois electoral and representative democracy, having succeeded in domesticating the right and left electoral political parties, at the price of eroding the legitimacy of the democratic practice concerned. These oligarchies alone control the propaganda apparatuses, having succeeded in reducing the directors of news organizations including public broadcasters to the status of media clergy in their exclusive service. None of these aspects of the dictatorship of the oligarchy is challenged by the social and political movements at work in the triad, especially not in the United States."

"We are told [that the West is threatened by] the terrorist threat of Islamic jihadism. Again, opinion is perfectly manipulated on the subject. Jihadism is merely the inevitable product of the triad's continued support of reactionary political Islam inspired and financed by Gulf Wahhabism. The exercise of this so-called Islamic power is the best guarantee of the total destruction of the ability of societies in the region to resist the dictates of liberal globalization. At the same time, it offers the best pretext for giving the appearance of legitimacy to the NATO's interventions."

"The debate concerns only some of the problems of society in the United States (anti-feminism and racism in particular). It does not call into question the economic foundations of the system that are the root cause of the degradations of social conditions in important segments of society. The sacredness of private property, including that of monopolies, remains intact; the fact that Trump is himself a billionaire was an asset and not an obstacle to his election."

"Bernie Sanders' election campaign had given rise to much hope. By daring to introduce a socialist perspective into the debate, Sanders initiated the sound politicization of public opinion, which is no more impossible in the United States than elsewhere. We can only deplore, under these conditions, Sanders' capitulation and his rallying to the support of Clinton."

"Will Trump go so far as to repeal NAFTA? If he did so he would render a great service to the peoples of Mexico and Canada by freeing them from their status as impotent vassals and encouraging them to engage in new directions based on the autonomy of their popular-sovereign projects. Unfortunately, it is unlikely that the vast majority of Republican and Democratic representatives in the House and the Senate, all of whom have demonstrated an unconditional support of the interests of the American oligarchies, will allow Trump to go that far."

"I... want to see the construction of a multipolar world, an that obviously means the defeat of Washington’s hegemonist project for military control of the planet. In my eyes it is an overweening project, criminal by its very nature, which is drawing the world into wars without end and stifling all hope of social and democratic advance, not only in the countries of the South but also, to a seemingly lesser degree, in those of the North."

"The hegemonist strategy of the United States, which operates within the framework of the new collective imperialism, seeks nothing less than to establish Washington’s military control over the entire planet. This is the means to ensure privileged access to all of the world’s natural resources, and to compel subaltern allies, Russia, China and the whole third world to swallow their status as vassals. Military control of the planet is the means to impose, as a last resort, the draining of ‘tribute’ through political violence – as a substitute for the ‘spontaneous’ flow of capital that offsets the American deficit, the Achilles heel of US hegemony."

"The creation of a front against hegemonism is the number one priority today, as the creation of an anti-Nazi alliance was the number one priority yesterday. No European project can make any progress unless the strategy of the United States is put to flight."

"The project of American hegemonism fits into the liberal logic of collective triad imperialism. It entails that the ‘sovereignty of US national interests’ should be placed above all other principles framing the legitimacy of political action. To be sure, the imperialisms of the past behaved no differently, and those who seek to mitigate the responsibilities of the US establishment today, or to find excuses for its criminal conduct, frequently invoke the undeniable historical antecedents. p.122"

"Washington’s propaganda apparatus has been foretelling an inevitable ‘clash of civilizations’ (actually of religions) as the dominant feature of the future world. In reality, it has managed to give a real face to such a clash by a number of systematic measures: the promotion of various communalisms on the pretext of respecting difference; an offensive against ‘outdated’ secularism; praise for religious obscurantisms, which postmodernists have placed on a par with any other ‘ideology’; systematic encouragement of nauseating ethnicist regimes (in the former Yugoslavia and elsewhere); various kinds of cynical manipulation (CIA support for terrorist groups against enemies of the USA, in Afghanistan, Chechnya and Algeria, among others); and a false and dishonest war on so-called ‘terrorism’ (where terror does not serve Washington’s interests). The so-called clash of civilizations is an integral part of the barbaric downhill slide of capitalism; in no way is it an obstacle to the unfurling of the US hegemonist project."

"Around the world we find institutions like the World Trade Organization (WTO), whose policies could mean starvation for three billion peasant farmers, according to Samir Amin, director of the Third World Forum in Senegal. Unable to grow foodstuffs that can compete with products imported from advanced countries, how can these people survive?"

"Cantillon has been a much neglected figure in economics. He is known primarily for his influence on Quesnay and the Physiocrats, and for developing the notion that money flows connect the different sectors of the economy. Yet the place of Cantillon in history is more important than this. His Essay can legitimately be regarded as the first real economic treatise. It envisioned the economy as an interrelated system, and explained how that system worked. For this reason, Cantillon probably deserves to be regarded as the first real economist."

"The necessity -from a technical point of view - for control and, consequently, for domination, can be overcome without too much difficulty in small and medium-sized enterprises; it cannot be overcome in large enterprises except by effecting changes which are all the more difficult to implement since they affect both the enterprise's hierarchical structure and its technical (and spatial) organization. William F. Whyte provides a number of examples to show that organizations can be modified so that workers enjoy their work, espouse the aims of the enterprise and mobilize the reserves of productivity and skill they usually keep to themselves. The success of this kind of reorganization necessarily presupposes, first, a relationship of between and organized labour, second, recognition of the workers' ability to organize themselves, take the initiative and participate in , and third, financial involvement of the workers in the results of their labour. Sooner or later, however, this policy of 'participation' or co-management - of which the Scanlon Plan was one of the best example; and one in advance of the 'quality circles' of thirty years later -meets with the following difficulty: for job security to be guaranteed, the volume of sales must increase at the same rate as the productivity of labour. A duly motivated , however, can achieve staggering increases in: productivity (increases of 20 per cent per annum over a period of several years in the examples cited by Whyte). The volume of sales, however, cannot continue to increase at such a rate. The point inevitably comes when management decides to reduce the workforce in order to reduce costs, thus regaining sole ownership of the enterprise's decision-making power. The 'partnership' of labour and capital is thus destroyed at one fell swoop; the workers realize their co-operation with the management has been a swindle; and antagonistic class relations are re-established."

"A system of co-operation between workers and management cannot survive, therefore, unless management effectively guarantees its employees job security, by which I mean employment for life. It is on this condition alone that there can be social integration on the Japanese model within the enterprise. Yet large Japanese firms are only able to guarantee their employees jobs for life by out the manufacturing and services which they, as , have no vital interest in undertaking themselves, to a vast network of satellite companies. These subcontracting enterprises cushion the parent company from fluctuations in economic conditions: they employ and dismiss their workers according to changes in demand, and the fact that their employees often have no union or whatsoever means this can be accomplished with great speed. Job security in the parent companies is matched by unstable employment and social insecurity throughout the rest of the economy. Employment for life and are privileges reserved for an elite (about 25 per cent of Japanese employees in 1987, a figure which is decreasing markedly as older workers are encouraged to retire early and are not replaced). They are only compatible with economic rationality within the framework of a dual society. This social division (or 'dualization') has been the dominant characteristic of all the industrialized societies since the mid seventies."

"The image of the enterprise as a place where employees can achieve personal fulfilment is therefore an essentially ideological invention. It conceals the real transformations that have taken place, namely that enterprises are replacing labour by machines, producing more and better with a decreasing percentage of the workforce previously employed, and offering privileges to a chosen elite of workers, which are accompanied by unemployment, precarious employment, de-skilling and lack of job security for the majority. The advance of technology has thus resulted in the segmentation and disintegration of the working class. An elite has been won over to collaboration with capital in the name of work ethic; the great mass of workers have become marginalized or lost their job security and serve as a reserve army for industry which wishes to be able to adjust its workforce rapidly according to fluctuations in demand."

"Enterprises are adopting a strategy of flexible response on two levels simultaneously: the firm's stable core of employees must be functionally flexible; the peripheral workforce, for its part, must be numerically flexible. In other words, 'around a core of stable workers with a wide range of skills, there is a fluctuating, peripheral workforce with a more restricted range of more basic skills, who are dependent on the chance play of economic forces. The stable core must accept occupational mobility, both in the short term (changing their positions and acquiring new skills) and in the long term (retraining and modifyi~g their career plans), in exchange for job security. Their skills are essentially company skills provided, enhanced and perfected by the firm by means of a process of continuous in-house training. The firm therefore relies heavily on the employees it has trained, and vice versa."

"This revaluation of the image of the worker rests, on the part of the employers, on a rational calculation: it is not only a question of winning. the loyalty of an elite of workers they cannot do without and integrating them into the enterprise; it also means cutting this elite off from its class of origin and from class organizations, by giving it a different social identity and a different sense of social worth. In a society cut in two ('dualized'), this elite necessarily belongs to the world of 'the fighters and winners' who deserve a different status from the work-shy masses. The members of this elite of workers will therefore be encouraged to form their own independent trade unions and their own forms of social insurance, co-financed by the enterprises in which they work. At the same time, the employers will have limited the ability of this elite to bargain or fight trade-union struggles, by isolating it and stressing its privileges: its members have been chosen from among a very large number of applicants; they enjoy job security, a steady income and the kind of work and possibilities of promotion that are envied by all. And above all they owe their status to the fact that they are, professionally, the most capable; economically, the most productive; and, individually, the most hard-working. Insofar as it corresponds in large part to the ideal of the sovereign, multi-skilled worker of the utopia of work, the employers' discourse and the strategy concealed within it, have brought about the most serious crisis in the history of the trade-union movement. If, as is the case in West Germany, trade-union organization derives its strength from its roots in the ranks of the skilled workers, the threat exists that it will rapidly degenerate into neo-corporatism. If, on the other hand, trade unionism is particularly strong among semi-skilled workers - as is the case in Italy where until recently there was practically no foreign workforce and where semi-skilled workers owe their job security to their trade-union organization -then the unions find themselves in the dangerous position of having strong support among a declining category of workers and weak backing from the two categories which are in rapid expansion: the mass of temporary workers, which is expanding but difficult to organize, the unemployed and 'odd jobbers'; and the new elite of 'reprofessionalized' workers, characterized by a marked tendency to defend their own specific interests by forming company unions or small craft unions."

"The ideology of work and the ethics of effort therefore become cover for ultra-competitive egoism and careerism: the best succeed, the others have only themselves to blame; hard work should be encouraged and rewarded, which therefore means we should not subsidize the unemployed, the poor and all the other 'layabouts'. This ideology (which in Europe finds its most overt expression in Thatcherism) is strictly rational, as far as capitalism is concerned: the aim to motivate a workforce which cannot easily be replaced (for the moment, at least) and control it ideologically for want of a means of controlling it physically. In order to do this, it must preserve the work-force's adherence to the work ethic, destroy the relations of solidarity that could bind it to the less fortunate, and persuade it that by doing as much work as possible it will best serve the collective interest as well as its own private interests. It will thus be necessary to conceal the fact that. there is an increasing structural glut of workers and an increasing structural shortage of secure, full-time jobs; in short, that the economy no longer needs everyone to work - and will do so less and less. And that; as a consequence, the 'society of work' is obsolete: work can no longer serve as the basis for social integration. But, to conceal these facts it is necessary to find alternative explanations for the rise in unemployment" and the decrease in job security. It will thus be asserted that casual labourers and the unemployed are not serious about looking for work; do not possess adequate skills, are encouraged to be idle by over~ generous dole payments and so on. And, it will be added, these people are all paid far too much for the little they are able to do, with the result that the economy, which is groaning under the weight of these excessive burdens, is no longer buoyant enough to create a growing number of jobs. And the conclusion will be reached that, 'To end unemployment, we have to work more.'"

"At the very point when a privileged fraction of the working class seems to be in a position to acquire multiple skills, to achieve workplace autonomy and continually widen their capacities for action - all of which are things that were ideals of the worker self-management currents within the labour movement - the meaning of this ideal is thus radically altered by the conditions in which it seems destined to be fulfilled. It is not the working class which is achieving these possibilities of self-organization and increasing technological power; it is a small core of privileged workers who are integrated into new-style enterprises at the expense of a mass of people who are marginalized and whose job security is destroyed -people shunted from one form of occasional, unrewarding and uninteresting employment to another, who are often reduced to competing for the privilege of selling personal services (including shoe-shining and house-cleaning) to those who retain a secure income."

"When the production process demands less work and distributes less and less wages, it gradually becomes obvious that the right to an income can no longer be reserved for those who have a job; nor, most importantly, can the level of incomes be made to depend on the quantity of work furnished by each person. Hence the idea of guaranteeing an income to every citizen which is not linked to work, or the quantity of work done."

"The Führer will be impressed only if the British and the French nations cure themselves of their present laxity and slovenliness. What has been achieved by Germany has been achieved only because the ceaseless effort of every German, man, woman, and child, has built up that platform of strength from which Herr Hitler speaks. If we do not show ourselves the equals of the Germans in patriotism, we shall be neither worthy foes nor desirable friends. The only logical sequel to Munich is the 52-hour week in French factories and conscription in England. Then we can talk as great nations. But not till then."

"Power changes its appearance but not its reality. Politics are about power; we cannot evade that truth or its consequences. We dream of a better world but it is in Utopia – that is, nowhere."

"Barbarian invasions would be superfluous: We are our own Huns."

"In later times, Power's growth has continued at an accelerated pace, and its extension has brought a corresponding extension of war. And now we no longer understand the process. We no longer protest, we no longer react. The quiescence of ours is a new thing for which Power has to thank the smokescreen in which it has wrapped itself. Formally, it could be seen manifest in the person of the king, who did not disclaim being the matter he was, and in whom human passions were discernible. Now masked in anonymity, it claims to have no existence of its own, and to be but the impersonal and passionless instrument of the general will. But that is clearly a fiction."

"Democracy, then, in the centralizing, pattern-making, absolutist shape which we have given to it is, it is clear, the time of tyranny's incubation."

"As we shall see, theories like those of Divine Right and Popular Sovereignty, which pass for opposites, stem in reality from the same trunk, the idea of sovereignty—the idea, that is, that somewhere there is a right to which all other rights must yield. It is not hard to discover behind this juridical concept a metaphysical one. A supreme Will, it runs, rules and disposes human societies, a Will which, being naturally good, it would be wrong to resist: this Will is either the Divine Will” or the “general will.” Power in being must be the emanation of this supreme sovereign, be it God or society; it must be the incarnation of this will. And its legitimacy is proportionate to its satisfaction of these conditions. Whether as delegate or mandatory, it can then exercise the right to rule. It is at this point that the two theories, in addition to their divergent conceptions as to the nature of the sovereign, become much differentiated. As to how, for instance, and to whom, and, above all, to what extent the right to rule is given. ...When can it be said, and by what signs can it be known, that Power, by betraying its trust, has lost its legitimacy, and, having now become no more than an observable fact, can no longer claim a right transcendent?"

"Ransack the history of revolutions, and it will be found that every fall of a regime has been presaged by a defiance which went unpunished. It is as true today as it was ten thousand years ago that a Power from which the magic virtue has gone out, falls."

"Command is a mountain top. The air breathed there is different, and the perspectives seen there are different, from those of the valley of obedience. The passion for order and the genius of construction, which are part of man’s natural endowment, get full play there. The man who has grown great sees from the top of his tower what he can make, if he so wills, of the swarming masses below him."

"If there is in Power's make-up an egoistical urge combined with the will to serve society, it is a natural supposition that, the weaker the former, the stronger will be the latter: perfection of government would consist in the complete elimination of the egoistical principle. The chimera of elimination has been unceasingly pursued by minds whose limited range is only equalled by their good intentions. They do not realize that the nature of man and the nature of society combine to make any such project chimerical. For without the egoistical principle Power would lack the inner strength which alone enables it to carry out its functions."

"As every advance of Power is useful for war, so war is useful for the advance of power; war is like a sheep-dog harrying the laggard Powers to catch up their smarter fellows in the totalitarian race."

"[A]ttempts at the limitation of armaments are, it is clear, a vain thing. Armaments are merely an expression of Power. They grow because Power grows. And yet those parties are loudest in demanding their limitation which, with unperceived inconsequence, are the most ardent supporters of Power’s expansion!"

"Power is linked with war, and a society wishing to limit war's ravages can find no other way than by limiting the scope of Power."

"All command other than its own, that is what irks Power. All energy, wherever it may be found, that is what nourishes it. If the human atom which contains this energy is confined in a social molecule, then Power must break down that molecule. Its levelling tendency, therefore, is not in the least, as is commonly thought, an acquired characteristic which it assumes on taking democratic form. It is a leveller in its own capacity of state, and because it is state. The leveling process need find no place in Power's programme: it is embedded in its destiny. From the moment that it seeks to lay hands on the resources latent in the community, it finds itself impelled to put down the mighty by its natural tendency as that which causes a bear in search of honey to break the cells of the hive. How will the common people, the dependents and the laborers, welcome Power's secular work of destruction? With joy, inevitably. Its work is that of demolishing feudal castles; ambition motivates it, but the former victims rejoice in their liberation. Its work is that of breaking the shell of petty private tyrannies so as to draw out the hoarded energy within; greed motivates it but the exploited rejoice in the downfall of their exploiters. The final result of this stupendous work of aggression, does not disclose itself till late. Visible, no doubt, is the displacement of many private dominions by one general dominion, of many aristocracies by one "statocracy." But at first, the common people can but applaud: the more capable among them are, in a continuous stream, enrolled in Power's army - the administration - there to become the masters of their former social superiors. It is the most natural thing, therefore, that the common people should be Power’s ally, should do its work in the expansion of the state—a process which they facilitate by their passivity and stir up by their appeals."

"We have just been seeing political power concerned to break a "clandom" which preceded it in time. Let us now see how it behaves in regard to a clandom which is its contemporary. It may be said in effect, paraphrasing Shakespeare: "Monarchy and feudal aristocracy are two lions born on the same day." There was something of an act of piracy about the foundation of the European states. The Franks who conquered Gaul, the Normans who conquered England and Sicily, and even the Crusaders who went to Palestine, all behaved like bands of adventurers, dividing the spoil. What was there to divide? First of all, the ready cash. Afterwards, there were the lands; no deserts, these, but furnished with men whose labor was to maintain the victor. To every man, then, his share in the prize. And there we have the man-at-arms turned baron. This is shown to the evolution of the world of the word baron, which in Germany meant "freeman" and in Gaul denoted the name of the class. There remains for seizure the apparatus of state, which there was one: naturally it is the share of the chief. But when a barbarian like Clovis found himself confronted with the administrative machine of the Late Empire, he did not understand it. All he saw in it was a system of suction pumps, bringing him a steady flow of riches on which he made merry with no thought for the public services for which these resources were intended. In the result, then, he divided up along among his foremost companions the treasure of the state, whether in the form of lands or fiscal revenues. In this way, civilized government was gradually brought to ruin, and Gaul of the ninth and 10th centuries, was reduced to the same condition as that in which William of Normandy was to find England of the 11th. ...By a slant common to the barbarian mind, or rather by an inclination which is natural to all men, but in barbarians encounters no opposing principle, these influential men soon confound their function with their property and exercise the former as though it were the latter. Each little local tyrant then becomes legislature, judge and administrator of a more or less extensive principality; and on the tribute paid by it he lives, along with his servants and his men-at-arms. Power thus expelled soon returns, however, under the spur of its requirements. The resources at his disposal are absurdly out of proportion to the area, which depends on it and to the population, which calls it the sovereign."

"Where will it all end? In the destruction of all other command for the benefit of one alone - that of the state. In each man's absolute freedom from every family and social authority, a freedom the price of which is complete submission to the state. In the complete equality as between themselves of all citizens, paid for by their equal abasement before the power of their absolute master - the state. In the disappearance of every constraint which does not emanate from the state, and in the denial of every pre-eminence which is not approved by the state. In a word, it ends in the atomization of society, and in the rupture of every private tie linking man and man, whose only bond is now their common bondage to the state. The extremes of individualism and socialism meet: that was their predestined course."

"Every historical society seems, by successive stages, to have dragged its slow length into a form of institutions in which all life is absorbed by, and all movement emanates from. Power. It is a despotic form; in it there is neither wealth, nor authority, nor even liberty, outside Power, which is in consequence the goal of all ambition; nor can its holders find shelter from the rivalry which breeds anarchy, except by buttressing themselves with divine status."

"The natural requirements of Power made the fortunes of the common people. All those “little people” ...no sooner found their niche in the state than they set about advancing their own fortunes along with their employers. At whose expense? The aristocrats’. With a boldness born of obscurity they encroached progressively on the taxing rights of the barons and transferred to the royal treasury the incomes of the great. As their invasions grew, the financial machine grew larger and more complicated. There might be new posts for their relations, they discovered new duties, so that whole families take their ease in a bureacracy that grew continually in numbers and authority. Spawning a whole hierarchy of underlings – deputies, clerks, registrars. So it was that everywhere the service of the state became the road to distinction, advancement, and authority of the common people. ...What a sight it is, the rise of the clerks, this swarming of busy bees who gradually devour the feudal splendour and leave it with nothing but its pomp and titles! Does it not leap to the eye that the state has made the fortunes of all these common people, just as they have made the state’s?"

"Historians of the sentimental school have sometimes regretted that royalty became absolute, while at the same time rejoicing that it installed plebeians in office. They deceive themselves. Royalty exalted plebeians just because it aimed at becoming absolute; it became absolute because it had exalted plebeians. It is always utterly impossible to build an aggressive Power with aristocrats. Care for family interests, class solidarity, educational influences, all combine to dissuade them from handing over to the state the independence and fortunes of their fellows. The march of absolutism, which subdues the diversity of customs to the uniformity of laws, wars against local attachments on of a concentration of loyalties on the state, douses all other fires of life that one may remain alight, and substitutes for the personal ascendancy of the notables the mechanical control of an administration – such a system is, I say, the natural destroyer of the traditions on which is founded the pride of aristocracies and of the patronage which gives them their strength Resistance is, therefore, the business of aristocracies."

"Divine law must not be confused with custom. Custom is the crystallization of the whole of a society’s habits. A people among whom custom is altogether sovereign endures the despotism of the dead. Law, on the other hand, while prescribing and fixing such habits as are essential to the preservation of society, does not bar the door to favourable variations: it acts, so to speak, as a discriminating filter."

"[O]nce man is declared “the measure of all things,” there is no longer a true, or a good, or a just, but only opinions of equal validity whose clash can be settled only by political or military force; and each force in turn enthrones in its hour of triumph a true, a good, and a just which will endure just as long as itself."

"Does thought preside over the successive transformations of human communities? Hegel asserted it did, and changes in the form of a state are for him only the shadows cast by the majestic march of ideas engendered by the world spirit which advances through an unceasing synthesis of opposites bred by itself. With Marx ideas are no longer queens but servants, the mere formal expressions of needs and feelings brought into being by situations: their effectiveness is not their own but has been lent them by the social impulsions which give them birth. Marx was wrong to deny the creative quality of the spirit, but Hegel misunderstood the way in which the mechanism of politics works. It is true that ideas are queens by birth: but they only gain favour when they enter the service of interests and instincts. Follow an idea through from its birth to its triumph, and it becomes clear that it came to power only at the price of an astounding degradation of itself. A reasoned structure of arguments ...does not as such make its way into the social consciousness: rather it has undergone pressures which have destroyed its internal architecture, and left in its place only a confused babel of concepts, the most magical of which wins credit for the others. In the result, it is not reason which has found a guide but passion which has found a flag. The history of the democratic doctrine furnishes a striking example... Born for the purpose of standing as a bulwark against Power, it ends by providing Power with the finest soil it has ever had in which to spread itself over the social field."

"[T]here are no institutions on earth which enable each separate person to have a hand in the exercise of Power, for Power is command, and everyone cannot command. Sovereignty of the people is, therefore, nothing but a fiction, and one which must in the long run prove destructive of individual liberties."

"It is passing strange that our philosophers of the Revolutionary period should have formed their conception of a free society by reference to societies where everyone was not free – where, in fact, the vast majority were not free. It is no less strange that they never stopped to ask whether perhaps the characters which they so much admired were not made possible by the existence of a class which was not free. Rousseau, in whose philosophy were many things, was fully conscious of this difficulty: "Must we say that liberty is possible only on a basis of slavery? Perhaps we must.”"

"It is as futile and dangerous to aim at making of society one large family, as sentimental socialism seeks to do, as to aim at making of it one large team, as positivist socialism seeks to do."

"The man who has dedicated himself to the success of the protect, the master builder, no longer has any freedom: his conduct is now determined altogether by the constraining force of the end. Logically, therefore, he is bound to require at every moment from his companions whatever will best serve that end, and he demands of them imperiously whatever he thinks is of that nature. This imperiousness, though to immediate view that of the master, springs ultimately from the project itself, for it is the project which is in command. In the eyes of those under him, however, it is the master who hustles them, and they think him inhuman by reason of his disregard of their moods and personalities and his inability to see them other than as servants of the project (like himself)."

"The modern absolutism, which we find the most natural thing in the world, would have been quite beyond the dreams of the most absolute of kings."

"Rejoicing in his absolute authority, the single egoist will exploit it methodically, whereas a mêlée of egoists will bring about a ruinous disorder and a disastrous cleavage, because the contrariety of the appetites to be satisfied will prevent the satisfaction of any single one. Clearly, then, the effect of the pursuit of private ends under cover of the public good will be worse if there are many with a hand in power than if there is only one."

"The idea so commonly found that scepticism leads to toleration arises from considering the effects of scepticism in the intellectual who takes no active part – not its effects in the man of action. In the man of action, moral relativism and scepticism as to the absolute and universal value of his principles are no obstacle to a fanatical belief in their immediate value as his own clan at the actual moment; they do not weaken in the least his will to impose his principles. How should he glimpse a soul of truth in the principles of others, entitling them to respect, when he does not believe in noble origins of this kind even for his own principles?"

"No century has been more concerned than ours to do away with war: it has proved signally unsuccessful. All too little attention has been given to the phenomenon that internal politics have become increasingly more warlike."

"The trend of our day is ... toward the reproduction of the medieval situation: Nul homme sans seigneur. It is appropriate here to recall that the so-called Dark Ages began with the flight of individuals into the protection of lords or chapters and came to an end when the individual again found it to his advantage to set forth on his own. We live at a time when everything conspires to push the individual into the fold."

"The more one considers the matter, the clearer it becomes that redistribution is in effect far less a redistribution of free income from the richer to the poorer, as we imagined, than a redistribution of power from the individual to the State."

"Why should we now restrict ourselves to the Jewish Pantheon when we have been illuminated by this light which has begun to spread right across the horizon? ... Should we only recognize in humanity that isolated branch which is called Christianity, the revelation of Moses and that of Jesus? No. We desire a more ample Pantheon, one which answers to the name, so recently coined, of HUMANITY... We are not sons of Jesus or of Moses; we are sons of humanity.... On what principle of distributive justice can you place all the great religious lawgivers of humanity at the feet of one of them who lived in a comparatively recent age? .."

"Debt distress, inflation and hunger in the world are linked to the Russian invasion of Ukraine."

"When it comes to risky assets (and emerging markets debt is considered a risky asset) risk and specifically credit risk gets priced in the yields of bonds issued by this country. When times are good, investors seem to be optimistic and the price of risk is very low across all kinds of assets. But when liquidity starts to be withdrawn, the price of these risky bonds in emerging or low-income countries goes up."

"More vulnerable countries have a much harder time borrowing. Sometimes, financial actors do not want to lend at all and we are faced with episodes of "sudden stops" of capital flows into emerging markets with no way to roll over the debt."

"China acts according to its interests, including on climate: short-term economic factors may dictate over anything else."

"The risk of social unrest in many countries should not be underestimated."

"When the banking system goes down the drain, the economy goes down with it (2008 is still very fresh in our minds)."