By Antoine Louis Claude Destutt de Tracy

A Treatise on Political Economy by Antonie Louis Claude Destutt de Tracy (1754-1836) is a foundational textual content of nineteenth-century, free-market monetary concept and is still one of many classics of nineteenth-century French fiscal liberalism. Destutt de Tracy used to be one of many founders of the classical liberal republican crew referred to as the Idéologues, which integrated Benjamin consistent, Jean-Baptiste Say, Marquis de Condorcet, and Madame de Staël.

In this quantity, Destutt de Tracy presents one of many clearest statements of the commercial ideas of the Idéologues. Breaking with the physiocratic orthodoxy of the eighteenth century, Destutt de Tracy denies that land is the resource of all efficient hard work and focuses his recognition upon production and brands because the manufacturers of software and, as a result, of worth and of wealth. putting the entrepreneur on the middle of his view of monetary activty, he argues opposed to sumptuous intake of the idle wealthy and recommends a industry economic system with low taxation and minimal country intervention.

Destutt de Tracy despatched the textual content of A Treatise on Political financial system to Thomas Jefferson in hopes of securing its translation within the usa. It was once met with enthusiastic approval. Jefferson wrote to the writer, "The advantage of this paintings will, i am hoping, position it within the palms of each reader in our country."

Jeremy Jennings is Professor of Political thought at Queen Mary, college of London.

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Let us distinguish the inequality of power om inequality of riches. Inequality of power is the most grievous. It is that which exists among savages. Society diminishes the inequality of power; but it augments that of riches, which carried to an extreme reproduces that of power. This inconvenience is more or less difficult to avoid, according to different circumstances. Thence the difference in the destinies of nations. It is this vicious circle which explains the connexion of many events which have been always spoken of in a manner very vague and very unexact.

The science of probability is not a part of logic, and ought not even to be regarded as forming a supplement to it. Logic teaches us to form just judgments, and to make series of judgments: that is to say, of reasonings which are consequent. Now, properly speaking, there are no judgments or series of judgments which are probable. When we judge that an opinion or a fact is probable, we judge it positively; and this judgment is just, false, or presumptuous, according as we have perfectly or imperfectly observed the principles of the art of logic.

If the question is on the probable results of a social institution, or of the deliberations of an assembly of men, the anterior facts are the details of the social organization, or of the intellectual dispositions and operations of these men:—thus it depends on social and moral science, or on ideology. Finally, when it is only to foresee the chances of the play of cross and pile, the data would be the construction of the piece, the manner of resistance of the medium in which it moves, that of the bodies against which it may strike, the motion proper to the arm which casts it, and which are more or less easy to it.

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