[175]Vladimir Ilyich [Lenin], Economic Studies and Essays, St. Petersburg, 1899.
[176]The article in the Edinburgh Review was really directed against Owen, sharply attacking on 24 pages of print the latter’s four treatises: (1) ‘A New View of Society, or Essays on the formation of Human Character’, (2) ‘Observations on the Effects of the Manufacturing System’, (3) ‘Two Memorials on Behalf of the Working Classes, Presented to the Governments of America and Europe’, and finally (4) ‘Three Tracts’ and ‘An Account of Public Proceedings relative to the Employment of the Poor’. ‘Anonymous’ here attempts a detailed proof that Owen’s reformist ideas by no means get down to the real causes of the misery of the English proletariat, these causes being: the transition to the cultivation of barren land (Ricardo’s theory of ground rent!), the corn laws and high taxation pressing upon farmer and manufacturer alike. Free trade and laissez-faire thus is his alpha and omega. Given unrestricted accumulation, all increase in production will create for itself an increase in demand. Owen is accused of ‘profound ignorance’ as regards Say and James Mill.—‘In his reasonings, as well as in his plans, Mr. Owen shows himself profoundly ignorant of all the laws which regulate the production and distribution of wealth.’—From Owen, the author proceeds to Sismondi and formulates the point of contention as follows: ‘He [Owen] conceives that when competition is unchecked by any artificial regulations, and industry permitted to flow in its natural channels, the use of machinery may increase the supply of the several articles of wealth beyond the demand for them, and by creating an excess of all commodities, throw the working classes out of employment. This is the position which we hold to be fundamentally erroneous; and as it is strongly insisted on by the celebrated M. de Sismondi in his Nouveaux Principes d’Économie Politique, we must entreat the indulgence of our readers while we endeavour to point out its fallacy, and to demonstrate, that the power of consuming necessarily increases with every increase in the power of producing’ (Edinburgh Review, Oct. 1819, p. 470).
[177]The original title is: Examen de cette question: Le pouvoir de consommer s’accroît-il toujours dans la société avec le pouvoir de produire? We have not been able to obtain a copy of Rossi’s Annales, but the essay as a whole was incorporated by Sismondi in the second edition of his Nouveaux Principes.
[178]At the time of writing, Sismondi was still in the dark as to the identity of ‘Anonymous’ in the Edinburgh Review.
[179]Sismondi, op. cit., vol. ii, pp. 376-8.
[180]MacCulloch, loc. cit., p. 470.
[181]Incidentally, Sismondi’s Leipsic Book Fair, as a microcosm of the capitalist world, has staged a come-back after 55 years—in Eugen Duehring’s ‘system’. Engels, in his devastating criticism of that unfortunate ‘universal genius’ adduces this idea as proof that Duehring, by attempting to elucidate a real industrial crisis by means of an imaginary one on the Leipsic Book Fair, a storm at sea by a storm in a teacup, has shown himself a ‘real German literatus’. But, as in many other instances exposed by Engels, the great thinker has simply borrowed here from someone else on the sly.
[182]Sismondi, op. cit., vol. ii, pp. 381-2.
[183]MacCulloch, loc. cit., p. 470.
[184]Sismondi, op. cit, vol. ii, p. 384.