The controversy between conservatives and reformers, still pending, finds its counterpart, in the history of philosophy, in the quarrel between realists and nominalists; it is almost useless to add that, on both sides, right and wrong are equal, and that the rivalry, narrowness, and intolerance of opinions have been the sole cause of the misunderstanding.
Thus two powers are contending for the government of the world, and cursing each other with the fervor of two hostile religions: political economy, or tradition; and socialism, or utopia.
What is, then, in more explicit terms, political economy? What is socialism?
Political economy is a collection of the observations thus far made in regard to the phenomena of the production and distribution of wealth; that is, in regard to the most common, most spontaneous, and therefore most genuine, forms of labor and exchange.
The economists have classified these observations as far as they were able; they have described the phenomena, and ascertained their contingencies and relations; they have observed in them, in many cases, a quality of necessity which has given them the name of LAWS; and this ensemble of information, gathered from the simplest manifestations of society, constitutes political economy.
Political economy is, therefore, the natural history of the most apparent and most universally accredited customs, traditions, practices, and methods of humanity in all that concerns the production and distribution of wealth. By this title, political economy considers itself legitimate in FACT and in RIGHT: in fact, because the phenomena which it studies are constant, spontaneous, and universal; in right, because these phenomena rest on the authority of the human race, the strongest authority possible. Consequently, political economy calls itself a SCIENCE; that is, a rational and systematic knowledge of regular and necessary facts.
Socialism, which, like the god Vishnu, ever dying and ever returning to life, has experienced within a score of years its ten-thousandth incarnation in the persons of five or six revelators,—socialism affirms the irregularity of the present constitution of society, and, consequently, of all its previous forms. It asserts, and proves, that the order of civilization is artificial, contradictory, inadequate; that it engenders oppression, misery, and crime; it denounces, not to say calumniates, the whole past of social life, and pushes on with all its might to a reformation of morals and institutions.
Socialism concludes by declaring political economy a false and sophistical hypothesis, devised to enable the few to exploit the many; and applying the maxim A fructibus cognoscetis, it ends with a demonstration of the impotence and emptiness of political economy by the list of human calamities for which it makes it responsible.
But if political economy is false, jurisprudence, which in all countries is the science of law and custom, is false also; since, founded on the distinction of thine and mine, it supposes the legitimacy of the facts described and classified by political economy. The theories of public and international law, with all the varieties of representative government, are also false, since they rest on the principle of individual appropriation and the absolute sovereignty of wills.
All these consequences socialism accepts. To it, political economy, regarded by many as the physiology of wealth, is but the organization of robbery and poverty; just as jurisprudence, honored by legists with the name of written reason, is, in its eyes, but a compilation of the rubrics of legal and official spoliation,—in a word, of property. Considered in their relations, these two pretended sciences, political economy and law, form, in the opinion of socialism, the complete theory of iniquity and discord. Passing then from negation to affirmation, socialism opposes the principle of property with that of association, and makes vigorous efforts to reconstruct social economy from top to bottom; that is, to establish a new code, a new political system, with institutions and morals diametrically opposed to the ancient forms.