Bastiat's "Sophismes Economiques" was translated during the free-trade agitation in England, by Mr. Porter, the author of " Tho Progress of the Nation," and was widely circulated, under the title of " Popular Fallacies regarding General ...
Bastiat's "Sophismes Economiques" was translated during the free-trade agitation in England, by Mr. Porter, the author of " Tho Progress of the Nation," and was widely circulated, under the title of " Popular Fallacies regarding General ...
Which is better for man and for society-abundance or scarcity?
What! Can such a question be asked? Has it ever been pretended, is it possible to maintain, that scarcity is better than plenty?
Yes: not only has it been maintained, but it is still maintained. Congress says so; many of the newspapers (now happily diminishing in number) say so; a large portion of the public say so; indeed, the scarcity theory is by far the more popular one of the two.
Has not Congress passed laws which prohibit the importation of foreign productions by the maintenance of excessive duties? Does not the Tribune maintain that it is advantageous to limit the supply of iron manufactures and cotton fabrics, by restraining any one from bringing them to market, but the manufacturers in New England and Pennsylvania? Do we not hear it complained every day: Our importations are too large; We are buying too much from abroad? Is there not an Association of Ladies, who, though they have not kept their promise, still, promised each other not to wear any clothing which was manufactured in other countries?
Now tariffs can only raise prices by diminishing the quantity of goods offered for sale. Therefore, statesmen, editors, and the public generally, believe that scarcity is better than abundance.
But why is this; why should men be so blind as to maintain that scarcity is better than plenty?
Because they look at price, but forget quantity.
But let us see.
A man becomes rich in proportion to the remunerative nature of his labor; that is to say, in proportion as he sells his produce at a high price. The price of his produce is high in proportion to its scarcity. It is plain, then, that, so far as regards him at least, scarcity enriches him. Applying, in turn, this manner of reasoning to each class of laborers individually, the scarcity theory is deduced from it. To put this theory into practice, and in order to favor each class of labor, an artificial scarcity is produced in every kind of produce by prohibitory tariffs, by restrictive laws, by monopolies, and by other analogous measures.
In the same manner it is observed that when an article is abundant, it brings a small price. The gains of the producer are, of course, less. If this is the case with all produce, all producers are then poor. Abundance, then, ruins society; and as any strong conviction will always seek to force itself into practice, we see the laws of the country struggling to prevent abundance.
Now, what is the defect in this argument? Something tells us that it must be wrong; but where is it wrong? Is it false? No. And yet it is wrong? Yes. But how? It is incomplete.
Man produces in order to consume. He is at once producer and consumer. The argument given above, considers him only under the first point of view. Let us look at him in the second character, and the conclusion will be different. We may say:
The consumer is rich in proportion as he buys at a low price. He buys at a low price in proportion to the abundance of the articles in demand; abundance, then, enriches him. This reasoning, extended to all consumers, must lead to the theory of abundance.
Which theory is right?
Can we hesitate to say? Suppose that by following out the scarcity theory, suppose that through prohibitions and restrictions we were compelled not only to make our own iron, but to grow our own coffee; in short, to obtain everything with difficulty and great outlay of labor. We then take an account of stock and see what our savings are.
Afterward, to test the other theory, suppose we remove the duties on iron, the duties on coffee, and the duties on everything else, so that we shall obtain everything with as little difficulty and outlay of labor as possible. If we then take an account of stock, is it not certain that we shall find more iron in the country, more coffee, more everything else?
Choose then, fellow-countrymen, between scarcity and abundance, between much and little, between Protection and Free Trade. You now know which theory is the right one, for you know the fruits they each bear.
But, it will be answered, if we are inundated with foreign goods and produce, our specie, our precious product of California, our dollars, will leave the country.
Well, what of that? Man is not fed with coin. He does not dress in gold, nor warm himself with silver. What does it matter, then, whether there be more or less specie in the country, provided there be more bread in the cupboard, more meat in the larder, more clothes in the wardrobe, and more fuel in the cellar?
Again, it will be objected, if we accustom ourselves to depend upon England for iron, what shall we do in case of a war with that country?
To this I reply, we shall then be compelled to produce iron ourselves. But, again I am told, we will not be prepared; we will have no furnaces in blast, no forges ready. True; neither will there be any time when war shall occur that the country will not be already filled with all the iron we shall want until we can make it here. Did the Confederates in the late war lack for iron? Why, then, shall we manufacture our own staples and bolts because we may some day or other have a quarrel with our ironmonger!
To sum up:
A radical antagonism exists between the vender and the buyer.
The former wishes the article offered to be scarce, and the supply to be small, so that the price may be high.
The latter wishes it abundant and the supply to be large, so that the price may be low.
The laws, which should at least remain neutral, take part for the vender against the buyer; for the producer against the consumer; for high against low prices; for scarcity against abundance; for protection against free trade. They act, if not intentionally, at least logically, upon the principle that a nation is rich in proportion as it is in want of everything.
Kathryn was the true daughter, but Jolene stole her life and set her up for ruin. After a brutal kidnapping scheme, Kathryn's loyalty to her brothers and fiancé was met with cruel betrayal. Narrowly escaping, she chose to cut all ties and never forgive them. Then she shocked the world: the miracle doctor for the elite, a top-tier hacker, a financial mastermind, and now the untouchable star her family could only watch from afar. Her brothers begged, her parents pleaded, her ex wanted her back-Kathryn exposed them all. The world gasped as the richest man confessed his love for her.
Vivian clutched her Hermès bag, her doctor's words echoing: "Extremely high-risk pregnancy." She hoped the baby would save her cold marriage, but Julian wasn't in London as his schedule claimed. Instead, a paparazzi photo revealed his early return-with a blonde woman, not his wife, at the private airport exit. The next morning, Julian served divorce papers, callously ending their "duty" marriage for his ex, Serena. A horrifying contract clause gave him the right to terminate her pregnancy or seize their child. Humiliated, demoted, and forced to fake an ulcer, Vivian watched him parade his affair, openly discarding her while celebrating Serena. This was a calculated erasure, not heartbreak. He cared only for his image, confirming he would "handle" the baby himself. A primal rage ignited her. "Just us," she whispered to her stomach, vowing to sign the divorce on her terms, keep her secret safe, and walk away from Sterling Corp for good, ready to protect her child alone.
I had just survived a private jet crash, my body a map of violet bruises and my lungs still burning from the smoke. I woke up in a sterile hospital room, gasping for my husband's name, only to realize I was completely alone. While I was bleeding in a ditch, my husband, Adam, was on the news smiling at a ribbon-cutting ceremony. When I tracked him down at the hospital's VIP wing, I didn't find a grieving husband. I found him tenderly cradling his ex-girlfriend, Casie, in his arms, his face lit with a protective warmth he had never shown me as he carried her into the maternity ward. The betrayal went deeper than I could have imagined. Adam admitted the affair started on our third anniversary-the night he claimed he was stuck in London for a merger. Back at the manor, his mother had already filled our planned nursery with pink boutique bags for Casie's "little princess." When I demanded a divorce, Adam didn't flinch. He sneered that I was "gutter trash" from a foster home and that I'd be begging on the streets within a week. To trap me, he froze my bank accounts, cancelled my flight, and even called the police to report me for "theft" of company property. I realized then that I wasn't his partner; I was a charity case he had plucked from obscurity to manage his life. To the Hortons, I was just a servant who happened to sleep in the master bedroom, a "resilient" woman meant to endure his abuse in silence while the whole world laughed at the joke that was my marriage. Adam thought stripping me of his money would make me crawl back to him. He was wrong. I walked into his executive suite during his biggest deal of the year and poured a mug of sludge over his original ten-million-dollar contracts. Then, right in front of his board and his mistress, I stripped off every designer thread he had ever paid for until I was standing in nothing but my own silk camisole. "You can keep the clothes, Adam. They're as hollow as you are." I grabbed my passport, turned my back on his billions, and walked out of that glass tower barefoot, bleeding, and finally free.
Nadine reunited with her family, convinced she'd been discarded, rage simmering-only to find collapse: her mother unstable, her father poisoned; a pianist brother trapped in a sham marriage, a detective brother framed and jailed, the youngest dragged into a gang. While the fake daughter mocked and colluded, Nadine moved in secret-healing her mother, curing her father, ending the union, clearing charges, and lifting the youngest to leader. Rumors said she rode coattails, unworthy of Rhys, the unmatched magnate. Few knew she was a renowned healer, legendary assassin, mysterious tycoon... Rhys knelt. "Marry me! The entire empire is yours for the taking!"
The heavy thud of the release stamp was the only goodbye I got from the warden after five years in federal prison. I stepped out into the blinding sun, expecting the same flash of paparazzi bulbs that had seen me dragged away in handcuffs, but there was only a single black limousine idling on the shoulder of the road. Inside sat my mother and sister, clutching champagne and looking at my frayed coat with pure disgust. They didn't offer a welcome home; instead, they tossed a thick legal document onto the table and told me I was dead to the city. "Gavin and I are getting engaged," my sister Mia sneered, flicking a credit card at me like I was a stray dog. "He doesn't need a convict ex-fiancée hanging around." Even after I saved their lives from an armed kidnapping attempt by ramming the attackers off the road, they rewarded me by leaving me stranded in the dirt. When I finally ran into Gavin, the man who had framed me, he pinned me against a wall and threatened to send me back to a cell if I ever dared to show my face at their wedding. They had stolen my biotech research, ruined my name, and let me rot for half a decade while they lived off my brilliance. They thought they had broken me, leaving me with nothing but an expired chapstick and a few old photos in a plastic bag. What they didn't know was that I had spent those five years becoming "Dr. X," a shadow consultant with five hundred million dollars in crypto and a secret that would bring the city to its knees. I wasn't just a victim anymore; I was a weapon, and I was pregnant with the heir they thought they had erased. I walked into the Melton estate and made an offer to the most powerful man in New York. "I'll save your grandfather's life," I told Horatio Melton, staring him down. "But the price is your last name. I'm taking back what's mine, and I'm starting with the man who thinks he's marrying my sister."
Serena Vance, an unloved wife, clutched a custom-made red velvet cake to her chest, enduring the cold rain outside an exclusive Upper East Side club. She hoped this small gesture for her husband, Julian, would bridge the growing chasm between them on their third anniversary. But as she neared the VIP suite, her world shattered. Julian's cold, detached voice sliced through the laughter, revealing he considered her nothing more than a "signature on a piece of paper" for a trust fund, mocking her changed appearance and respecting only another woman, Elena. The indifference in his tone was a physical blow, a brutal severance, not heartbreak. She gently placed the forgotten cake on the floor, leaving her wedding ring and a diamond necklace as she prepared to abandon a marriage built on lies. Her old life, once a prison of quiet suffering and constant humiliation, now lay in ruins around her. Three years of trying to be seen, to be loved, were erased by a few cruel words. Why had she clung to a man who saw her as a clause in a will, a "creature," not a wife? The shame and rage hardened her heart, freezing her tears. Returning to an empty penthouse, she packed a single battered suitcase, leaving behind every symbol of her failed marriage. With a burner phone, she dialed a number she hadn't touched in a decade, whispering, "Godfather, I'm ready to come home."
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