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By Edwin Cannan

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The most respectable of other kinds of labour only made productions more usable, or gave their value a duration which facilitated their accumulation. None of them added to the value of the material employed anything more than the value of the things consumed by the workers, together with the repayment or the interest on their advances. "He saw nothing in this but a simple, though useful, exchange of services against productions and an opportunity of earning a wage, where this wage, deserved by those who receive it, is inevitably paid out of riches already produced and belonging to somebody else;whereas the kind of work which is assisted by the fecundity of Nature and the bounty of heaven produces itself the subsistence and remuneration of those who do it, and gives, in addition to this remuneration and subsistence, all the raw goods and materials which are consumed by other men of all professions.

The merchants and manufacturers of France do not seem to have been attracted by de Gournay's slogan, but the cry for freedom from regimentation went very well with the cult of Nature which was becoming prevalent among the political thinkers; and as, of all the arts, agriculture seems nearest to Nature and was in France particularly oppressed by regimentation it is not surprising that the cry for freedom became coupled with the championship of the economic importance of agriculture as compared with other industries.

5 .. 10, ······-.. .. . 18 .. i}:oduce ne t .. :tlf .. fOduce ne t .. .. :·:::----. 0... 5 .. 10 :tiiP .. ~::::::::::::~.. o... 2 .. If. •.. .. .. ·:· o... 2 .. 11 ·na t .. .. -···--" o... 2 .. -;;..... o... r... s ·--- ...... r... s. ;;~-~~t ......... o... o... r... 5 &c. ·r ORIGINS OF ECONOMIC THEORY 32 [CH. I The idea of the zigzag seems to be that any given sum, say 6oo livres or 6oo,ooo,ooo livres, expended on agriculture, under the circumstances which ought to exist in a well-regulated state, will cause a net produce of equal amount to appear, which goes to the landlords as net product or revenue.

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A review of economic theory by Edwin Cannan

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