2 10 12 https://www.arxiupmaragall.catalunyaeuropa.net/files/original/17/649/1978_EconomiaPoliticaCiudad_PM_Mecanoscrit.pdf e365e61205022ca61517012200a7bc2a PDF Text Text 1 �2 �3 �4 �5 �6 �7 �8 �9 �10 �11 �12 �13 �14 �15 �16 �17 �18 �19 �20 �21 �22 �23 �24 �25 �26 �27 �28 �29 �30 �31 �32 �33 �34 �35 �36 �37 �38 �39 �40 �41 �42 �43 �44 �45 �46 �47 �48 �49 �50 �51 �52 �53 �54 �55 �56 �57 �58 �59 �60 �61 �62 �63 �64 �65 �66 �67 �68 �69 �70 �71 �72 �73 �74 �75 �76 �77 �78 �79 �80 �81 �82 �83 �84 �85 �86 �87 �88 �89 �90 �91 �92 �93 �94 �95 �96 �97 �98 �99 �100 �101 �102 �103 �104 �105 �106 �107 �108 �109 �110 �111 �112 �113 �114 �115 �116 �117 �118 �119 �120 �121 �122 �123 �124 �125 �126 �127 �128 �129 �130 �131 �132 �133 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource 01.01.02. Activitat acadèmica Description An account of the resource Recull la documentació relacionada amb l'activitat acadèmica de Pasqual Maragall: - Escola primària: Escoles Virtèlia (1945-1957). - Llicenciatura en Dret: Facultat de Dret de la Universitat de Barcelona (1957-1964). - Llicenciatura en Econòmiques: Facultat d'Econòmiques de la Universitat de Barcelona (1958-1965). - Pràctiques de Dret Europeu (1963): estada a Estrasburg (França) per realitzar unes pràctiques de Dret Europeu a la Facultat Internacional de Dret Comparat. - Pràctiques a Roma (1964): beca per estudiar planificació regional a la SVIMEZ (Associazione per lo SVIluppo dell'industria nel MEZzogiorno). - Pràctiques amb Delors a París (gener-juny 1966): beca del Govern francès per l’estudi de planificació regional. Realitza unes pràctiques com a economista a l'Association pour l'organisation des STages En France (ASTEF) on obté el Diploma de planificació sectorial i regional. Les pràctiques les fa al Comissariat del Vè Pla amb el professor Jacques Delors. - Postgrau a la New School for Social Research, New York, amb beca Fulbright (setembre 1971-setembre 1973): Master of Arts en economia, especialitzat en economia internacional i economia urbana. - Doctorat (02/03/1979): en Ciències Econòmiques a la UAB. La tesi doctoral Els preus del sòl urbà. El cas de Barcelona (1948-1978), la va dirigir el catedràtic Josep Maria Vegara Carrió i va obtenir una valoració "Summa cum laude". Type The nature or genre of the resource Sèrie Date A point or period of time associated with an event in the lifecycle of the resource 1945-1979 No tenen tipus Tipo temporal para mapear las fichas sin tipo a la base resource template de Omeka S Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context 1619 Title A name given to the resource Economia política de la ciudad (mecanoscrit) Description An account of the resource 133 p. Format The file format, physical medium, or dimensions of the resource Textual Date A point or period of time associated with an event in the lifecycle of the resource 1978 Subject The topic of the resource Urbanisme Economia Política Barcelona Language A language of the resource Castellà Type The nature or genre of the resource Monografia Abstract A summary of the resource. Escrit a Baltimore durant la tardor 1978, durant la seva estada com a investigador i professor convidat al Center for Metropolitan Studies a la Johns Hopkins University de Baltimore. Dirigeix un seminari sobre economia urbana al departament de geografia i enginyeria mediambiental. Creator An entity primarily responsible for making the resource Maragall, Pasqual, 1941- EAD Archive The Encoded Archival Description is a common standard used to describe collections of small pieces and to create hierarchical and structured finding aids. Level The hierarchical level of the materials being described by the element (may be other level too). Document Note Note inside a the archival description or a component. No publicat, és còpia mecanoscrita. Conté correcions manuscrites (no és l'original). Arrangement Information on how the described materials have been subdivided into smaller units. UI 557 Articles https://www.arxiupmaragall.catalunyaeuropa.net/files/original/17/637/QuesnayandBeyond_1973.pdf 95bb7fb0d7bbf35da38d4078f692f583 PDF Text Text QUESNAY AND BEYOND (A R e f l e x i o n o n t h e O r i g i n of t h e C l a s s i c a l T h e o r y of Value, Capital and T r a d e ) Pascual Maragall New S c h o o l f o r S o c i a l Research J u l y , 1973. �0. INTRODUCTION AND BIBLIOGRAPHICAL NOTE Dans l a r e c h e r c h e d e l a v 6 r i t k p a r l e c a l c u l , toute l a c e r t i t u d e e s t d a n s l ' e v i d e n c e d e s donn6es. F. Quesnay (1888, p . 511 n . ) T h i s a r t i c l e t a k e s f o r g r a n t e d that the r e a d e r h a s a f a i r , though n o t n e c e s s a r i l y d e e p , acquaintance with what t h e d o c t r i n e s of the f i r s t people who called t h e m s e l v e s E c o n o m i s t s a r e a l l about. Yet i t can be r e a d , I hope, with s o m e benefit by anyone i n t e r e s t e d in going back to the b i r t h p l a c e of P o l i t i c a l Economy. F r a n q o i s (de) Simple o r extensive p r e s e n t a t i o n s of the working of Q u e s n a y ' s T a b l e a u Economique c a n b e found, in o r d e r of i n c r e a s i n g complexity and d e t a i l in A. P h i l i p s (1955), E n g e l s (1959) - whose c h a p t e r on the Tableau w a s w r i t t e n by M a r x , H. Woog (1950) and of c o u r s e M e e k ' s c l a s s i c (1963). M a r x ' s (1969) T h e o r i e s of S u r p l u s Value, T a bleau shows to what extent M a r x s t r u g g l e d with t h e - - a s i s stated in a l e t t e r t o Kugelman - in t h e s u m m e r of 1863 a n d how m u c h i t influenced h i s own c r i t i q u e of P o l i t i c a l Economy, D a s K a p i t a l , e s p e c i a l l y i n Volume I1 of t h e l a t t e r . T h e l a s t p a r a g r a p h i n M e e k ' s ' P r o b l e m s of the T a b l e a u E c o n o m i q u e l (in Meek, 1963) i s p e r h a p s the b e s t p l a c e t o go in o r d e r to g e t both a s u c c i n c t i d e a of t h e Tableau and of t h e m a i n d e b a t e s t h a t h a v e h i s t o r i c a l l y r e v o l v e d a r o u n d i t - s o m e of which a r e d e a l t with in t h e p r e s e n t a r t i c l e to t h e e x t e n t t h a t they p r o j e c t s o m e l i g h t on t h e m e a n i n g of Q u e s n a y ' s m o d e l in a b r o a d s e n s e . Of c o u r s e any of t h e c l a s s i c a l h i s t o r i e s of e c o n o m i c thought would do in this s e n s e . Also S. T s u r u l s Appendix t o Sweezy (1964) i s u s e f u l a s a n introduction to t h e f o r m a l a s p e c t s of the T a b l e a u (and i t s �r e l a t i o n to M a r x ' s and Keynes' m a c r o e c o n o m i c s ) . H. Woog (1950) c a n b e usefully c o n t r a s t e d to M e e k ' s g r e a t compendium, f o r he t a k e s opposite views in s e v e r a l of t h e debated q u e s t i o n s of d e t a i l in t h e Tableau, contains i n t e r e s t i n g c r i t i q u e s of M a r x ' s , B i l i m o v i c l s and O n c k e n ' s i n t e r p r e t a t i o n s and s u g g e s t s two p o i n t s which I have not developed i n t h i s a r t i c l e but which I think a r e of e x t r e m e i n t e r e s t : f i r s t , the hypothesis t h a t "one p e r i o d of c i r c u l a t i o n c o m p r e m i s e s one g e n e r a l p r o c e s s of production i n the a g r i c u l t u r a l s p h e r e and two consecutive a c t s of t r a n s f o r m a t i o n in the manufacturing sphere" ( s e e p. 65 n . ) - a n hypothesis worth c o n s i d e r i n g in t h e context of t h e p r o b l e m of i n t e r p r e t i n g the population s c a l e s in the Tableau; and second, a c o m p a r i s o n of Q u e s n a y ' s and M a r x ' s views of h o a r d i n g f r o m a k e y n e s i a n standpoint ( s e e p. 89 n . ) . T h e r e a r e a l s o v e r y i n t e r e s t i n g m a t e r i a l s on p a r t i c u l a r a s p e c t s of P h y s i o c r a c y s u c h a s Meek and Kuczynski's r e c e n t republication of the e l u s i v e 3 r d edition of the Tableau, found i n 1965 by the l a t t e r a u t h o r i n t h e a r c h i v e s of t h e Du Pont f a m i l y in D e l a w a r e . Also of s o m e b e a r i n g h e r e i s the d i s s e r t a t i o n p r e s e n t e d i n 1956 a t the New School f o r Social R e s e a r c h by I. L u n d b e r g (1964), on t h e s u b j e c t of S m i t h ' s debt to t h e l a t e P h y s i o c r a t Turgot, whose R e f l e x i o n s - the a u t h o r shows - w e r e anonymously t r a n s l a t e d by Adam S m i t h into English. V . F o l e y q s a r t i c l e (1973) on the r e l a t i o n of t h e Tableau to Q u e s n a y ' s p r e v i o u s w o r k on m e d i c i n e and blood c i r c u l a t i o n i s an exciting s a m p l e of c u r i o s i t y and d e t a i l e d work, though it l a c k s understanding of the economic s i g n i f i c a n c e of the Tableau. I t i s i n t e r e s t i n g , a t any r a t e , to follow the connection t h e r e t r a c e d out between the T a b l e a u , which i s s e e n a s t h e l a s t p r e - N e w t o n i a n a c c o m p l i s h m e n t i n e c o n o m i c s , and the C a r t e s i a n f r a m e of m i n d of the P h y s i o c r a t s . X X It i s a c o m m o n invective t o t r e a t n o n - m a t h e m a t i c a l e c o n o m i s t s a s p r e Newtonians. A p a r t f r o m t h e f a c t that s o m e people a r e beginning to think about Newton a s one of the l a n d m a r k s f r o m w h e r e on m a n y things went wrong with s o c i a l s c i e n c e s ( s e e the b e h a v i o r i s m v s . r a t i o n a l i s m d e b a t e i n l i n g u i s t i c s , f o r i n s t a n c e ) I b e t t h a t t h e link between C a r t e s i a n ' h o r l o g e r i e ' and W a l r a s - t y p e g e n e r a l e q u i l i b r i u m s - with i t s a u c t i o n e e r - e x - m a c h i n a a n d a l l - i s t h e e a s i e s t t o t r a c e out. �The v a s t world of F r e n c h economic l i t e r a t u r e on Quesnay i s n o t r e f e r r e d to in the p r e s e n t a r t i c l e . Also s e r i e s of a r t i c l e s w e r e w r i t t e n on the s a m e s u b j e c t between 1929 a n d 1932 in c e n t r a l E u r o p e , e s p e c i a l l y in G e r m a n y . (1950) c a n b e u s e d a s i n d i r e c t r e f e r e n c e f o r t h e s e . too a n i c e a r t i c l e by H. Woog To t h i s p e r i o d c o r r e s p o n d s N.J . W a r e i n AER (1931) showing the c l o s e r e l a t i o n s h i p between P h y s i o c r a c y and the new c o m m o n e r landowners i n XVIIIth F r a n c e - to which I r e f e r i n t h e text of the p r e s e n t a r t i c l e . G e n e r a l w o r k s on P h y s i o c r a c y p u b l i s h e d i n English a r e only l i m i t e d l y useful: Higgs (1968) a n d B e e r (1939) f o r i n s t a n c e -- t h e l a t t e r being a n e x a m p l e of what t h i s a r t i c l e t r i e s t o c o u n t e r a c t , t h a t i s , t h e reduction of P h y s i o c r a c y to m e d i e v a l i s m , s c h o l a s t i c i s m and even A r i s t o t e l i a n i s m . P o l a n y i would h a v e found h e r e a c a s e i n point f o r h i s p i t i l e s s a t t a c k on this kind of hindsight reductionism. The m o s t c o m p l e t e edition of Q u e s n a y i n English i s M e e k ' s (1963). Still i t l a c k s a g r e a t m a n y of Q u e s n a y ' s w r i t i n g s - among which t h e l a t t e r ' s works on the p r i m i t i v e Inca civilization and C h i n e s e d e s p o t i s m , which a r e not brought to b e a r i n t h e p r e s e n t a r t i c l e . �Much c a n be s a i d i n f a v o r of the study of F r a n ~ o i sQ u e s n a y ' s m o d e l of the c a p i t a l i s t economy a s the f i r s t s t e p i n t h e development of a c o m p l e t e a n a l y s i s of t h i s economy. X Quesnay was t h e f i r s t to view the l a t t e r a s a s t r u c t u r e c o n s t a n t l y reproducing i t s e l f , t h e f i r s t ( a s M a r x s a i d ) to c o n s i s t e n t l y r e i n t e g r a t e t h e e m e r g e n c e of value and s u r p l u s - v a l u e into the s p h e r e of p r o duction, w h e r e i t p r o p e r l y belongs, and out of the m a r k e t - p l a c e . Quesnay's Tableau would then stand in the p l a c e of t h a t " e a r l y and r u d e s t a t e of s o c i e t y ' ' o r t h e " s i m p l e commodity production s t a g e " to which c l a s s i c a l political e c o n o m i s t s r e f e r r e d to when building t h e i r b r o a d t h e o r e t i c a l svstems. T h i s i s no m e r e coincidence. T h i s p a p e r t r i e s to contribute to t h e t h e o r e t i c a l goal just s u g g e s t e d above i n s e v e r a l d i f f e r e n t ways. F i r s t , t h i s a r t i c l e will a r g u e t h a t Q u e s n a y ' s view of the economy i s i n e f f e c t t h a t of an e m e r g i n g c a p i t a l i s t economy - an a r g u m e n t which i s anything but new, yet which s e e m s worth making i n r e f e r e n c e to p a r t i c u l a r q u e s t i o n s that k e e p being m a d e a s a r e s u l t of the confusion between the feudal a p p e a r a n c e of the m o d e l a n d i t s c a p i t a l i s t s u b s t a n c e , q u e s t i o n s such a s t h a t of the p r o d u c t i v i t y of a g r i c u l t u r a l l a b o r , the n a t u r e of i n t e r e s t o r t h e content of t h e s e r v i c e s r e n d e r e d by l a n d l o r d s . Second, the point i s m a d e that the Tableau Economique, though c a p i t a l i s t i n e s s e n c e , h a s m u c h m o r e to t e l l about the f o r m a l a s p e c t s of c a p i t a l i s t p r o duction ( a s a p r o c e s s of e x t r a c t i o n of s u r p l u s - v a l u e and e c o n o m i c a l l y s u s t a i n e d r e p r o d u c t i o n ) than about the h i s t o r i c a l c a t e g o r i e s of c a p i t a l i s m , a s X T h i s i s t h e d i r e c t i o n taken a l r e a d y i n s o m e c o u r s e s p r e s e n t i n g a s e q u e n c e of s t r u c t u r a l m o d e l s of t h e economy - such a s T. V i e t o r i s z ' c o u r s e of E c o n o m i c Analysis a t the New School f o r Social R e s e a r c h , New Y o r k , w h e r e t h i s p a p e r w a s o r i g i n a t e d , a n d L. P a s i n e t t i ' s " T o p i c s in E c o n o m i c Analysis" ( C o l u m b i a , F a l l , 1971). �developed l a t e r on by the English p o l i t i c a l e c o n o m i s t s . This i s p r e c i s e l y t h e meaningful point of connection between Quesnay and M a r x ; t h a t i s to say, the ' t r a n s f o r m a t i o n ' linking the f o r m e r ' s t o the l a t t e r ' s s y s t e m i s a t r a n s f o r m a t i o n of t h e h i s t o r i c a l c a t e g o r i e s involved, leaving the f o r m a l s t r u c t u r e unchanged in p r i n c i p l e . T h i s i s a r a t h e r complex point and will be d e a l t with l a t e r i n t h i s a r t i c l e a n d , hopefully, i n s u c c e s s i v e o n e s . In t h i s s e c t i o n I will d i s c u s s s o m e d e t a i l s a l r e a d y d e a l t with by the well e s t a b l i s h e d i n t e r p r e t a t i o n s of the Tableau (Meek, 1963, and T s u r u , 1964) T h i r d , i t i s suggested that a r e - c o n s i d e r a t i o n should be m a d e of Q u e s n a y ' s p l a c e in the development of P o l i t i c a l Economy, n o t only in the s e n s e ( r e f e r r e d to above) of i t s being the s t a r t i n g point of what could b e c a l l e d the E c o n o m i c s of Reproduction, but a l s o i n t h e f i e l d of International T r a d e , i n which Q u e s n a y s t a n d s i n a s o r t of p a r a d i g m a t i c a n t i - R i c a r d o position whose t h e o r e t i c a l p o s s i b i l i t i e s a r e s t i l l unexplored - and which d e s e r v e e x p l o r a t i o n , I s u g g e s t , in view of s o m e c u r r e n t developments of the world economy. F i n a l l y , s o m e concluding c o m m e n t s , t h a t will p e r h a p s be found too t e n t a t i v e to d e s e r v e the heading of ' C o n c l u s i o n ' , a r e m a d e on the evolution of t h e t h e o r y of s u r p l u s - v a l u e a n d p r o f i t s f r o m Quesnay on to R i c a r d o and to M a r x . �I. C a p i t a l i s t Substance a n d F e u d a l A p p e a r a n c e i n Quesnay I a m not i n t e r e s t e d h e r e in the e t e r n a l l y puzzling question of t h e r e l a t i o n between m a t e r i a l s u r p l u s and v a l u e - s u r p l u s , t h a t i s , in exploring the e x t e n t and the s e n s e i n which a c e r t a i n technological s e t - u p can be deduced a s a n e c e s s a r y condition of o b s e r v e d value r e l a t i o n s h i p s ( c l a s s r e l a t i o n s h i p s i n the final a n a l y s i s ) . T h i s will be touched upon below. It i s well known that the e n t i r e e c o n o m i c m o d e l i s built by Q u e s n a y on t h e b a s i s of the p r o d u c t i v e n e s s of a g r i c u l t u r e , upon i t s being able to p r o d u c e m o r e than i t a b s o r b s a s m a t e r i a l expense. N e v e r m i n d ( f o r the m o m e n t ) . What I want t o s t r e s s h e r e i s the f a c t t h a t in Q u e s n a y ' s m o d e l two different s o c i a l and technological m o d e l s a r e c o m p a r e d , one c o r r e s p o n d i n g to a feudal, the o t h e r one t o a c a p i t a l i s t f r a m e w o r k . The choice of technique involves h e r e a choice of s o c i e t y , b r o a d l y speaking i s the whole 'mode of production'. - what i s i m p l i e d i n the a l t e r n a t i v e As we will s e e t h e c a p i t a l i s t s y s t e m a p p e a r s i n t h e a l t e r n a t i v e not a s full-fledged c a p i t a l i s m but a s a f r a g i l e c r e a t u r e , u n a b l e s t i l l t o stand on i t s two l e g s , a g r i c u l t u r e and i n d u s t r y . Yet Quesnay's c h o i c e i s unrnistakeable. Land m a y b e m a t e r i a l l y productive p e r s e , y e t what m a k e s i t a b l e to p r o d u c e n e t value i s l a r g e - s c a l e , c a p i t a l i s t a g r i c u l t u r e . t h i s point c l e a r l y . The following quotes m a k e I believe it useful t o quote t h i s m a t e r i a l h e r e s i n c e it belongs to t h e e a r l y a r t i c l e s f o r the Enciclopedie, s o m e of which h a s n o t even been t r a n s l a t e d into English. T h i s will allow u s to go f u r t h e r into t h e question of what n e t v a l u e i s i n Q u e s n a y ' s m i n d . A n e a t d i s t i n c t i o n i s m a d e i n the a r t i c l e on F a r m e r s between r i c h f a r m e r s who work with h o r s e s and poor land c u l t i v a t o r s working with oxen. p a r a l l e l i s m i n the f o r m adopted by land t e n u r e : There i s a in t h e f i r s t c a s e l a n d i s l e a s e d a g a i n s t a m o n e y r e n t (which i s fixed f o r t h e extent of the l e a s e ) ; i n the second t h e c r o p i s divided between the s h a r e - c r o p p e r and t h e p r o p i e t o r according to a fixed proportion. �What i s m o r e i m p o r t a n t , r i c h f a r m e r s a r e a s s u m e d to advance the working and even m o s t of t h e fixed c a p i t a l r e q u i r e d t o l a b o r t h e l a n d . The s h a r e - c r o p p e r s i n s t e a d work with s m a l l amounts of c a p i t a l , n a m e l y the value of t h e oxen, supplied by the proprietor of the land. "It i s n e c e s s a r y f o r t h e f a r m e r setting up h i s o p e r a t i o n with four h o r s e s t o spend a c o n s i d e r a b l e amount b e f o r e h e gets t h e f i r s t c r o p . . h e h a s m a d e t h e e x p e n d i t u r e s f o r the h o r s e s and o t h e r c a t t l e . . . h e s u p p l i e s the c o r n . . . (i. e . g r a i n ) . . . h e p a y s f o r t h e food of the d o m e s t i c s . . " ( ~ u e s n a p. ~ , 160) . . "In t h e r e g i o n s w h e r e t h e r e i s no f a r m e r a b l e t o a f f o r d t h e s e i n i t i a l e x p e n d i t u r e s , t h e p r o p r i e t o r s of land h a v e to r e l y on cultivation with oxen by l a b o r e r s t h a t give t h e m back half t h e c r o p . T h i s kind of land l a b o r r e q u i r e s a v e r y s m a l l amount of e x p e n d i t u r e s on the s i d e of the s h a r e c r o p p e r : t h e landowner supplies h i m with the oxen and t h e s e e d s ; the e x p e n s e s of t h e s h a r e c r o p p e r a r e r e d u c e d t o t h e l a b o r tools and h i s own food up to the f i r s t c r o p , and often t h e p r o p r i e t o r bid; m y t r a n s l a t i o n ) h a s to advance f o r t h e s e e x p e n d i t u r e s . " S h a r e c r o p p i n g w a s the p r e v a i l i n g mode of production i n F r a n c e i n Quesnay's time. Rich f a r m e r s accounted f o r 1/8 of a l l cultivated l a n d s . The r e s u l t of t h i s w a s "an e n o r m o u s d e g r a d a t i o n of a g r i c u l t u r e i n F r a n c e , b e c a u s e of t h e l a c k of f a r m e r s " ( " f a r m e r s " , u s e d h e r e to r e f e r to c a p i t a l i s t f a r m e r s ) . T h e r e were other c l a s s e s i n the F r e n c h countryside. H i r e d help, " c h a r r e t i e r s " ( c a r t e r s ) and p e a s a n t s a r e often cited. All s e e m t o c o r r e s - pond t o l a n d l e s s p e o p l e working i n a g r i c u l t u r e , though p e a s a n t s m i g h t p o s s e s s s m a l l p l o t s of l a n d w h e r e they could grow p a r t of t h e i r f a m i l y 2 s s u b s i s t e n c e - but n o t wheat. In t h i s p i c t u r e of F r e n c h a g r i c u l t u r e a l s o l a n d l o r d s h a d a n i m p o r t a n t r o l e . They financed c e r t a i n e x p e n s e s of production, n a m e l y i n f r a s t r u c t u r e s : r o a d s , c a n a l s , i r r i g a t i o n and s o on But the T a b l e a u i s a m o d e l w h e r e a l l t h e s e c o m p l i c a t i o n s w e r e s e t a s i d e to show r i c h f a r m e r s constituting t h e bulk of t h e c u l t i v a t o r s of land. Peasants �would b e fully employed by f a r m e r s , and o t h e r r u r a l w o r k e r s getting subs i s t e n c e wages. L a n d l o r d s w e r e a s s u m e d t o have m a d e a l l the m a j o r expenses f o r t h e conditioning of land f o r production a n d t h e r e f o r e w e r e thought to b e d i r e c t i n g a l l t h e i r r e v e n u e t o w a r d consumption e x p e n d i t u r e s - half on a g r i c u l t u r a l p r o d u c e , half on m a n u f a c t u r e s (any additional exp e n d i t u r e on food and the c o r r e s p o n d i n g c u t i n o t h e r expenditures being c o n s i d e r e d a s accumulation). The T a b l e a u i s b a s e d i n m o s t of i t s v e r s i o n s on the b a s i s of a m o n e y output of 5 billion l i v r e s . K The a c t u a l f i g u r e f o r F r a n c e w a s 2 billion (Quesnay, 1888, p . 216). T h i s d i f f e r e n c e w a s accounted f o r by a s e r i e s of t r a n s f o r m a t i o n s whose m a i n link w a s t h e e s t a b l i s h m e n t of c a p i t a l i s t agriculture in France. Two equilibria a r e i n f a c t c o m p a r e d . The existence and s t a b i l i t y conditions of the "optimum m o d e of production" choice a r e shown. XX ( H e r e the "stability conditions" have to be u n d e r s t o o d i n t h e s e n s e of b e h a v i o r a l and p r i c e p a t t e r n s allowing f o r the r e p r o d u c t i o n of the initial d i s t r i b u t i o n of r e s o u r c e s a t t h e end of the production p e r i o d ) . The p r e v i o u s q u o t e s a r e f r o m the a r t i c l e of F a r m e r s . KKK The a r t i c l e on C o r n i s not l e s s positive about t h e s a m e s u b j e c t : K F o r t h i s and a l l a s p e c t s of the T a b l e a u i n d e t a i l s e e Meek, 1963. Namely : 1 ) Abolition of i n d i r e c t taxation; 2) F r e e t r a d e of c o r n , bringing about a high p r i c e f o r i t in t e r m s of m a n u f a c t u r e s ; 3) A given p r o p o r t i o n between t h e p r o p e n s i t i e s to consume food and m a n u f a c t u r e s by t h e proprietors; and s o m e w h a t l e s s c l e a r l y : 4) R a t e of i n t e r e s t below t h e d e p r e c i a t i o n r a t e of a g r i c u l t u r a l capital. XKK I m a g i n e a r a d i c a l e c o n o m i s t c o m p a r i n g t h e p r e s e n t GNP of t h e U S to that which would be a t t a i n a b l e i f t h e h i e r a r c h i c a l c o n s t r a i n t s pushing t h e division of l a b o r i n t h e f a c t o r y beyond the point of efficiency w e r e suddenly r e m o v e d , and showing the conditions i n the d i s t r i b u t i o n of the p r o d u c t and i n t h e p o l i c i e s of the F e d e r a l g o v e r n m e n t which would allow f o r t h i s "optimum m o d e of p r o duction" to go on : t h i s i s the type of e x e r c i s e involved i n the Tableau. The question of how to value the GNP by a s t a n d a r d c o m m o n t o both e q u i l i b r i a of c o u r s e would a p p e a r a s a r e q u i r e m e n t of the c o m p a r i s o n - just a s i t a p p e a r s i n Quesnay the question of what n e t output i s , d e t e r m i n i n g i n t u r n the a n s w e r to "what p r o d u c t i v e n e s s i s " . XX �"We do n o t view t h e r i c h f a r m e r h e r e a s a w o r k e r who cultiv a t e s t h e land by h i m s e l f , but a s a n e n t r e p r e n e u r managing and enhancing the value of h i s e n t e r p r i s e by h i s knowledge and h i s f o r t u n e . . . . ( r i c h f a r m e r s ) a r e f r e e m e n a b l e t o afford t h e c o n s i d e r a b l e a d v a n c e s r e q u i r e d by the c u l t u r e of t h e land, and employing p e a s a n t s a g a i n s t t h e a s s u r a n c e of decent e a r n i n g s " . (Quesnay, 1888, p . 219). " T h e p e a s a n t i s n o t useful i n the country u n l e s s he p r o d u c e s and g e t s e a r n i n g s s o t h a t he c o n s u m e s good food and good clothing and c o n t r i b u t e s to k e e p food p r i c e s and commodity r e v e n u e s high, and to i n c r e a s e the n u m b e r s a n d the e a r n i n g s of the m a n u f a c t u r e r s and c r a f t s m e n , who will then b e able to pay p r o p o r t i o n a t e t a x e s to the King". ( I b i d . , p. 245). " T h e s t a g e of p r o s p e r i t y . . . w o u l d be l e s s the p r o d u c t of the c u l t i v a t o r ' s l a b o r than the product of the wealth which h e i s able t o e m p l o y i n t h e c u l t u r e of t h e land. M a n u r e p r o d u c e s r i c h c r o p s ; c a t t l e p r o d u c e s m a n u r e ; only money buys cattle and p a y s f o r t h e m e n that o p e r a t e t h e cattle". ( I b i d . , p . 243. My t r a n s l a t i o n ) . T h e s e quotes i n d i c a t e n o t only the c a p i t a l i s t e s s e n c e of Q u e s n a y ' s m o d e l ( m y m a i n point h e r e ) but a l s o , e s p e c i a l l y t h e s e c o n d quote, what t h e a f f a i r of value i s a l l about i n t h a t m o d e l . ( t h e King) g e t s . composed o f ? Net value i s t h e s u r p l u s t h a t the nation F o r what d o e s the King r e c e i v e t h e s u r p l u s ? What i s it T h e n a t i o n ' s s u r p l u s shouldn't b e c o m p o s e d of p r e c i o u s m e t a l s , a s t h e M e r c e n t i l i s t s had been advocating, but of excedent r a w produce. T h o s e excedents of c o r n ("an a c t i v e balance on r a w p r o d u c e " coupled with a " p a s s i v e b a l a n c e on m a n u f a c t u r e s " ) wouldn8t m a k e the c o u n t r y " a t r i b u t a r y of o t h e r nations" (in Meek, 1963, p . 247), though they c e r t a i n l y could involve a c o s t . On t h e c o n t r a r y , they would p r o v i d e t h e nation with the m e a n s to wage s u c c e s s f u l w a r s . " B a t t l e s which a r e won s i m p l y by k i l l i n g m e n , without causing any o t h e r d a m a g e , do l i t t l e to weaken the e n e m y if h e s t i l l h a s the w a g e s of t h e m e n h e h a s l o s t and i f they a r e high enough t o a t t r a c t o t h e r m e n . . Wealth s u s t a i n s t h e h o n o r of t h e t r o o p s " . (in Meek, 1963, p. 261). . . �T h i s point i s i m p o r t a n t i n r e l a t i o n to the i n t e r n a t i o n a l s i d e of Quesnay's political economy, which will be r e t u r n e d to l a t e r , but it i s a l s o e s s e n t i a l t o u n d e r s t a n d what value i s h e r e . Value h a s two a s p e c t s : g r o s s value i n c l u d e s the c o r n n e c e s s a r y to feed the e n t i r e population taking i t s m e m b e r s one by one; n e t value h a s t o do not with t h i s "individual by individual" s u b s i s t e n c e but with the s u b s i s t e n c e of the nation a s a whole in h e r p r o t r a c t e d s t r u g g l e a g a i n s t o t h e r nations. a good a r m y . A s u r p l u s of c o r n i s equivalent to The r e p r o d u c t i o n of society i n c l u d e s such c r u d e m a t t e r s . And t h i s i s definitely what counts to m a k e of a g r i c u l t u r e the unique p r o d u c t i o n , i n the s t r o n g e s t s e n s e of t h e w o r d ; that i t s p r o d u c t i s e s s e n t i a l , b a s i c , in c a s e of w a r . X It can be a r g u e d that n o t only the c o r n that t h e King c a n c o m m a n d i s p r o d u i t net. The l a n d l o r d s l i v e a l s o of t h e s u r p l u s . My point i s p r e c i s e l y t h a t t h i s i s a r a t h e r c o m p l e x s u b j e c t i n Quesnay, and t h a t the m u l t i - s i d e d c o n s t r a i n t s that t h e " s t a b i l i t y conditions" i m p o s e on t h e behavior of t h e l a n d l o r d amount i n t h e m o d e l t o a q u a s i - i n t e g r a t i o n of the l a t t e r into a b r o a d c a t e g o r y of a g r i c u l t u r a l e n t r e p r e n e u r s . i n r e l a t i o n to t h e n a t u r e of the 'output' I will d e a l with t h i s question supplied by the l a n d l o r d s when t h e Tableau i s i n t e r p r e t e d a s a n input-output m o d e l . It h a s been s u g g e s t e d t h a t the ' s e r v i c e s ' r e n d e r e d by the p r o p r i e t o r c l a s s (and that h a v e to a p p e a r i n t h e adequate r o w and column e n t r y i f t h e t a b l e h a s to balance a t a l l ) could be labeled "protection" o r something h he b a s i s of s o c i e t y i s the m e a n s of s u b s i s t e n c e and the wealth needed by t h e power t h a t i s t o defend them". Quesnay i n O b s e r v a t i o n s s u r l e D r o i t Nature1 d e s H o m m e s r g u n i s e n Socigtg, 1765. u o t e d by M. Kuczynski (1972, p. xxxiii). M. Kuczynski d r a w s f r o m t h i s s e n t e n c e t h e m i s l e a d i n g conclusion, i n m y view, t h a t "the p r i m a r y f a c t o r i n Quesnay w a s the economic b a s i s " w h e r e a s , s h e continues, in t h e M a x i m e s t h a t DuPont added to h i s edition of t h e T a b l e a u "the s u p e r s t r u c t u r e i s given p r e c e d e n c e over the basis". �similar. J( As long a s r e f e r e n c e i s m a d e to t h e S t a t e and the C h u r c h , t h e t e r m i s p e r h a p s n o t too bad - if e u p h e m i s t i c . But when i t c o m e s t o l a n d - o w n e r s it s u g g e s t s a typically f e u d a l t r a n s a c t i o n which i s v e r y f a r f r o m the enhancing of a g r i c u l t u r a l c a p i t a l and t h e new r e l a t i o n s between f a r m e r s and p r o p r i e t o r s t h a t Quesnay i s making a c a s e f o r . Quesnay wants the l a n d o w n e r s to behave i n a n e a t l y economic way a s r e g a r d s to land a n d i t s exploitation. the c a p i t a l i s t type of f a r m i n g . R e n t s would be h i g h e r if they f a v o u r e d Consequently, t a x e s would a l s o be higher. T h e position of the C h u r c h i s s e l d o m mentioned a s such. It i s p e r h a p s significant t h a t t h e " d b e " (tithe) o r 1/10 l e v y got by the " d k c i m a t e u r s " (Quesnay, 1888, p . 207) i s not c h a r g e d upon the s u r p l u s but c o n s i d e r e d a s a c o s t , though the i n i t i a l p a r a g r a p h s of the T a b l e a u include t h e "dgcim a t e u r s " (i. e. t h e c l e r g y ) in the p r o p r i e t a r y c l a s s . XX In s e v e r a l p a s s a g e s ( s e e e . g. Quesnay, 1888, p . 208), Quesnay advocates the conversion of t h e a r i s t o c r a t s into f a r m e r s . enough land to s e t a m o d e r n exploitation. Some feudal n o b l e s have not They should be allowed to h i r e land in o r d e r to i n c r e a s e t h e i r s c a l e of o p e r a t i o n , and t h e r e f o r e pay r e n t s and a l s o t a x e s (which they do not pay o t h e r w i s e ) . X After a l l , a r i s t o c r a t s M o r e c o m m o n i s t h e denomination " r e n t a l s e r v i c e s " , a s i n A. P h i l i p s , 1955. The a s s i m i l a t i o n of the c o r r e s p o n d i n g p a y m e n t to the p r o p r i e t o r s to a Ricardian surplus ( s e e I b i d . , p . 143) i s n o t l e g i t i m a t e , s i n c e no land s c a r c i t y i s i m p l i e d i n Q u e s n a y ' s m o d e l ; quite to t h e c o n t r a r y , the o p t i m u m m o d e of production i s c o m p a r e d t o a situation w h e r e l a n d i s s c a r c e l y populated and s c a r c e l y c a p i t a l i z e d and the s c a l e s of exploitation a r e too s m a l l (implying a l s o i n c r e a s i n g r e t u r n s to s c a l e ) . kIx So t h e p r o p r i e t o r c l a s s g e t s h e r e not only the s u r p l u s but the "dfrne" on the c r o p . T h i s i s a l s o t h e context that Meek t a k e s a s containing a Cantillonesque ' p r o f i t ' flowing to f a r m e r s , t h e only a r t i c l e w h e r e Quesnay c l e a r l y allows f o r i t : Net P r o d u c t = Rent 4. S t a t e T a x e s 4 P r o f i t . C o s t = P r o d u c t i o n E x p e n d i t u r e s C d i m e ( s e e Quesnay, 1888, p . 207). �l e a s e a p a r t m e n t s i n the towns. Why wouldn't they r e n t l a n d ? Quesnay t a l k s about the "imb6cile bourgeois" ("who thinks that i t i s sufficient to work the l a n d , to t o r t u r e i t to g e t good c r o p s out of it", Quesnay, 1888, p. 243). But h e d i s c u s s e s a s well the " i g n o r a n t cupidity of land- l o r d s " who p r e s s the State to tax c u l t i v a t o r s and w o r k e r s , i n s t e a d of t h e i r own r e v e n u e s , forgetting t h a t "men, whose p h y s i c a l constitution shows only n e e d s , a r e n o t able to p a y anything o u t of t h e m s e l v e s " , s o that the t a x f a l l s i n the l a s t i n s t a n c e upon the landowners' r e n t , s i n c e t h e s c a l e of t h e p r o c e s s , and t h e r e f o r e i t s n e t product, i s downgraded altogether ( Q u e s n a y , 1888, p. 704). I t m a y be a d m i t t e d that Q u e s n a y was in l i n e with t h e " r e t u r n to n a t u r e " m o v e m e n t of t h e f i r s t p a r t of the XVIIIth c e n t u r y . I t i s somewhat h a r d e r to swallow t h a t " P h y s i o c r a c y i s indeed a r a t i o n a l i z a t i o n of m e d i e v a l economic life" ( B e e r , 1939, p. 110) and even m o r e t h a t the "Tableau Economique i s the g r a p h i c r e p r e s e n t a t i o n of that life, and n o t a t a l l of F r a n c e in the XVIIIth century" (Ibid. ). T h i s i s the kind of s h e e r n o n s e n s e ( a s it should b e c l e a r a f t e r what w a s s a i d above, and indeed a f t e r what w a s a l r e a d y s a i d s o m e 120 y e a r s ago by M a r x ) t h a t h a s k e p t Quesnay out of s i g h t until f a i r l y r e c e n t t i m e s and which h a s p r e v e n t e d a complete understanding of h i s e c o n o m i c s until now. X A l i t t l e m o r e c o m p l i c a t e d to d e a l with i n t h i s context i s the m a t t e r of i n t e r e s t X It i s i n t e r e s t i n g to n o t e , h o w e v e r , t o what e x t e n t Q u e s n a y ' s c a t e g o r i e s , h i s language, can be viewed a s a s t r a i g h t f o r w a r d continuation of t h o s e of t h e p r e - c a p i t a l i s t t r a d i t i o n , f r o m t h e S c h o l a s t i c s down to A r i s t o t l e and h i s ' f a i r p r i c e ' ( s e e B e e r , 1939), e s p e c i a l l y i n r e l a t i o n to t h e t h e o r y of value. The i n c r e a s i n g a d v o c a t e s of t h e c u r r e n t ( i f not new) " r e t u r n to N a t u r e " will p r e f e r to c o n s i d e r Q u e s n a y i n this new p e r s p e c t i v e , which i s in m y opinion p a r t i a l and s e r i o u s l y misleading. �r a t e s i n Q u e s n a y ' s political economy. H e r e too a l l s o r t s of m e d i e v a l a n d antique p r e c e d e n t s c a n be c i t e d ( s e e B e e r , 1939, p . 116). The complication l i e s i n the f a c t that i n t e r e s t i s p r e s e n t i n the model. In f a c t t h e p u r c h a s e of the m e a n s of production a t the beginning of t h e e x ploitation w a s m a d e on a c r e d i t b a s i s , and a s such i t i s often a s s u m e d by Quesnay. In one i n s t a n c e , he gives an e x a m p l e implying a 5% i n t e r e s t on the p u r c h a s e of h o r s e s (Quesnay, 1888, p . 164). But c r e d i t w a s not developed enough to b a s e on i t a n account of what we could c a l l p r i m i t i v e o r i n i t i a l accumulation. themselves. It w a s n e c e s s a r y t h e r e f o r e " t h a t t h e f a r m e r s w e r e r i c h by . . (they) get back only t h e p r o f i t s ; the stock r e m a i n s a s c a p i t a l i n use" (Quesnay, 1888, p. 181). On the o t h e r hand, t h e only i n s t a n c e in which the p a y m e n t of t h e l a n d l o r d s ' revenue could b e c o n s i d e r e d a s m a d e a g a i n s t the advancement of m o n e y capital by t h e s a m e i s p r e c i s e l y l i m i t e d to t h e m o d e of production that Q u e s n a y e l i m i n a t e d f r o m t h e Tableau, that i s , s h a r e c r o p p i n g . "In s o m e c o u n t r i e s t h e l a n d l o r d s . . . do not s h a r e i n t h e c r o p s ; the s h a r e c r o p p e r s p a y t h e m a money r e v e n u e f o r t h e r e n t of t h e land and f o r t h e i n t e r e s t on the p r i c e of c a t t l e , but usually t h i s r e v e n u e i s v e r y s m a l l " (Quesnay, 1888, p. 161). In the a r t i c l e on i n t e r e s t ( Q u e s n a ~ ,1888, pp. 399-406) h e allows f o r t h e v e r y e x i s t e n c e of i n t e r e s t on the b a s i s of the p r o f i t t h a t the b o r r o w e d wealth i s able to r a i s e . It i s p r e c i s e l y t h i s p r o p o r t i o n of p r o f i t s to wealth (in a g r i c u l t u r e ) which s e t s the l i m i t to f a i r i n t e r e s t r a t e s . Quesnay hinted h e r e a t the t h e o r y of p r o f i t s developed l a t e r in the e a r l y R i c a r d o ( E s s a y on the Influence of a Low P r i c e of Corn on the P r o f i t s of Stock, 1815). I t i s difficult t o a s c e r t a i n X X the e x a c t m e n t a l p r o c e s s through which Quesnay See in t h i s s e n s e "The P h y s i o c r a t i c Concept of P r o f i t " i n Meek@,:!;'.'. �r e f r a i n e d f r o m e x t r a c t i n g the logical c o n s e q u e n c e s of the m e c h a n i s m s u g g e s t e d above - leading in the l a s t a n a l y s i s to t h e a c c e p t a n c e of equal r a t e s of p r o f i t i n a g r i c u l t u r e and i n d u s t r y . The section of the p r e s e n t p a p e r dealing with the question of the i n t e r n a l c i r c u l a t i o n of m a n u f a c t u r e s s h e d s s o m e i n d i r e c t l i g h t on t h i s p r o b l e m . In any c a s e , nothing s e e m s m o r e l o g i c a l t h a n the c i t e d justification of i n t e r e s t , given Q u e s n a y ' s e m p h a s i s on the r o l e of m o n e y c a p i t a l i n the a t t a i n m e n t of the o p t i m u m m o d e of production i n a g r i c u l t u r e . But t h e effects of too high a r a t e of i n t e r e s t a r e c r u c i a l ; Quesnay put t h e s e e f f e c t s on t h e s a m e footing a s t h e d a m a g e c a u s e d by t a x e s levied on c r o p s a s a g a i n s t those paid out of the r e v e n u e o r net product : "If t a x e s w e r e s e t upon the f a r m e r h i m s e l f , i f they took h i s p r o f i t s , a g r i c u l t u r e would languish. . . the l a n d l o r d s ' r e v e n u e s would go d o w n . . . they would s a v e on e x p e n d i t u r e s in m a n u f a c t u r e s , s e r v a n t s and s o o n . . . and t h e economic p r o c e s s would be d o w n g r a d e d . . . (The s a m e would happen) if the f a r m e r s w e r e ruined by t h e f i n a n c i e r . . . " (Quesnay, 1888, p . 244, m y e m p h a s i s ) . XXX S e v e r a l p r o v i s i o n a l c o n c l u s i o n s m a y b e s e t a t t h i s point : - Coupling what was s a i d on p . 3 about t h e i m p o r t a n c e of e s t a b l i s h i n g l a r g e s c a l e , c a p i t a l i s t a g r i c u l t u r e t o g e t a high l e v e l of s i m p l e r e p r o d u c t i o n ( m a x i m i z a t i o n of n e t value) with t h e connection r e f e r r e d to in p. 7 between n e t value and the s u r p l u s of c o r n available f o r t h e d e f e n s e of the nation a s a whole, we c o m e to u n d e r s t a n d t h a t Quesnay w a s making the c a s e f o r a g r i c u l t u r a l c a p i t a l i s m a s t h e m o d e of production b e s t suited to s e r v e t h e n e e d s of the nation a s a whole. T h i s a r g u m e n t would b e l a t e r on c o m p l e t e l y �i n v e r t e d (the State being good to the e x t e n t t h a t it s e r v e d c a p i t a l i s m ) , though this i s not y e t totally s o in Adam Smith, a g a i n s t what i s often believed, a s f o r Srnith, d e f e n s e w a s m o r e i m p o r t a n t t h a t opulence. - The extent to which, i n Quesnay, t h i s p r i m a c y of the i n t e r e s t s of t h e S t a t e c a r r i e s t h e i m p l i c a t i o n that t h e Ancien R e g i m e had to be s a v e d i s a complex issue. C e r t a i n l y the feudal nobility i s s e e n dissolving i t s e l f into a n e w a g r i - cultural capitalist c l a s s . If t h e a r i s t o c r a c y i s allowed t o enjoy a d i f f e r e n t i a l consumption m i x , t h e m o d e l n e v e r t h e l e s s s e v e r e l y p r e - d e t e r m i n e s it. But Quesnay w a s c l e a r l y u n a w a r e of the d e g r e e of i n t e r d e p e n d e n c e between s o c i o economic r e l a t i o n s h i p s and politics a s such, i. e . h e had no complete conception of t h e m o d e of production a s developed l a t e r on by M a r x o r even a s p e r c e i v e d i m p l i c i t l y i n R i c a r d o ' s P o l i t i c a l Economy. - Q u e s n a y ' s m o d e l can be s e e n a s a two-fold g e n e r a l e q u i l i b r i u m m o d e l , i n which the s t a b i l i t y conditions, given the s i m p l i c i t y of the a s s u m p t i o n s , a r e f o r m u l a t e d i n t e r m s of c l e a r - c u t , meaningful p o l i c y d e c i s i o n s and b e h a v i o r a l patterns. The c r u c i a l s i m p l i f i c a t i o n i s , of c o u r s e , t h e r e s t r i c t i v e conception of production i n t h e s t r o n g s e n s e , which allowed f o r a s t r a i g h t f o r w a r d aggregation ( t h e wiping out of t h e p r o b l e m i n f a c t ) . T h i s will b e d i s c u s s e d further later. - T h e m a i n w e a k n e s s of the m o d e l i n i t s own t i m e i s , i n m y opinion, the question m a r k l e f t open on the subject of the o r i g i n of p r i m i t i v e c a p i t a l i z a t i o n X ( o r "primitive advances" i n Quesnay's terminology ) . T h i s i s a l o g i c a l con- sequence of h i s r e j e c t i o n of t h e i d e a of i n t e r e s t on c a p i t a l , f o r t h e f a r m e r s , u n a s s i s t e d by f i n a n c i e r s , had t o be " r i c h on t h e i r own r i g h t 1 ' - and it i s n e v e r m a d e c l e a r how t h i s n e c e s s a r y wealth would c o m e about. Of c o u r s e i f c r e d i t had to play a n i m p o r t a n t r o l e , m a n u f a c t u r e r s a l s o could c l a i m t h e i r r i g h t to a n equal p r o f i t , c a p i t a l would flow t o t h e c i t i e s , the e m p l o y m e n t t h a t a g r i c u l t u r e X T h i s i s w h e r e , I would suppose, M a r x p i c k e d u p t h e t e r m " p r i m i t i v e accumulation". �r e q u i r e d to function on c a p i t a l i s t grounds would n e v e r flow back to t h e c o u n t r y s i d e , a n d the e n t i r e p r o c e s s of e m e r g e n c e of the new mode of p r o duction i n a g r i c u l t u r e , i n s t e a d of in the towns, would n e v e r o c c u r - a s i t did not. Q u e s n a y ' s clean, well-behaved c a p i t a l i s m n e v e r w a s . It c a n b e shown t h a t i t w a s logically faulty. - C o n s i s t e n t with t h i s b i a s i n Quesnay, c o r r e l a t i v e to Q u e s n a y ' s l a c k of r o o t s i n a sound, e m e r g i n g a g r i c u l t u r a l c a p i t a l i s t c l a s s , ( a s a g a i n s t the s t r o n g r e l a t i o n s h i p between R i c a r d o ' s political economy and t h e i n t e r e s t s of t h e p r o g r e s s i v e English b o u r g e o i s i e ) , was t h e " r e t u r n to n a t u r e " m o v e m e n t a f t e r the expulsion of the Huguenots ( p r o - i n d u s t r i a l P r o t e s t a n t s ) , the Spanish s u c c e s i o n w a r s and t h e c o l l a p s e of John Law's m o n e t a r y s y s t e m ( s e e B e e r , 1939). In 1753 R o u s s e a u opposed t h e f i r s t e n c l o s u r e of c o m m o n s and w r o t e : "Dieu t o u t - p u i s s a n t . . . , d e l i v r e - n o u s d e s l u m i k r e s e t d e s f u n e s t e s a r t s , e t r e n d - n o u s l ' i g n o r a n c e , l'innocence e t l a p a u v r & t & ,l e s s e u l s biens qui p u i s s e n t f a i r e n o t r e bonheur". ("Almighty God.. . , d e l i v e r u s f r o m enlightment and d r e a r y c r a f t s and g r a n t u s i g n o r a n c e , innocence and p o v e r t y , the only goods t h a t can m a k e o u r happiness". ) Bold i n t e l l e c t u a l d e c i s i o n s , n e w s i m p l i f i c a t i o n s of the e l e m e n t s composing the i m a g e of s o c i e t y h a v e to be undertaken f o r a new s c i e n c e to e m e r g e , yet i t m a y well be t h a t t h o s e d e c i s i o n s a r e n o t backed by h i s t o r y i f they do not c o r r e s p o n d to s t r o n g d e t e r m i n a t i o n s a c t u a l l y in g e r m in the gut of the s o c i a l system. Many p r o g r e s s i v e e c o n o m i s t s i n t h i s c o u n t r y would e n d o r s e today s o m e t h i n g s i m i l a r to R o u s s e a u ' s c l a i m above and t o Q u e s n a y ' s s t r i v i n g f o r a s y n t h e s i s between the n e w technological p o s s i b i l i t i e s and t h e avoidance of i t s s o c i a l connotations. P r o v i n g the n o n - n e c e s s i t y of t h e s e connotations, t h a t i s , unveiling the d e g r e e of f r e e d o m involved i n t h e d e t e r m i n a t i o n of t h e values adopted by t h e economic s y s t e m i s a l m o s t a f a s h i o n today - and i s c e r t a i n l y a useful f i r s t step. Yet the a n a l y s i s of Q u e s n a y ' s p o l i t i c a l economy i n �r e l a t i o n to h i s t o r y should t e l l u s t h a t t h i s i s not enough. Where the s t r e n g t h will c o m e f r o m to b a s e the new s t a r t i n g point (our " r i c h f a r m e r s " , s o to s p e a k ) should now be the m a i n question. �11. The F o r m a l Validity of Quesnay's Model I have always been shocked by the s t r i k i n g s i m i l a r i t y between the f o r m a l m e c h a n i s m s e t up in Q u e s n a y ' s T a b l e a u and F o r m u l e s and M a r x ' d e s c r i p t i o n of the p r o c e s s of production of s u r p l u s - v a l u e (Vol. I of Capital) and c i r c u l a t i o n of c a p i t a l (Vol. 11). Not that M a r x h a s concealed in any way h i s debt to Quesnay - h e acknowledges i t a t length both i n Vol. I1 of Capital and P a r t I of T h e o r i e s of S u r p l u s Value. Yet p r e c i s e l y t h e f a c t that Quesnay h a s come to be known m a i n l y through M a r x m a y explain t h e u s u a l l a c k of understanding of the deep connection between t h e two. The point h e r e i s t h a t i t i s not p o s s i b l e to a s k m o r e of Q u e s n a y than what h e can give. M a r x having indicated t h a t Quesnay w a s the f i r s t to g r a s p the e s s e n t i a l s of t h e new m o d e of production, it i s u n d e r s t a n d a b l e t h a t s o m e people have thought it t h e i r duty to d i s c o v e r i n Quesnay a hidden category of "profit" and o t h e r f a v o r i t e f e a t u r e s of c a p i t a l i s m - and to couple this r e s e a r c h with the examination of the m o s t appealing i n c o n s i s t e n c i e s i n the Tableau. I will r e t u r n to the p a r t i c u l a r question of p r o f i t s a t the e n d of t h i s a r t i c l e . Suffice to s a y h e r e t h a t what M a r x thought r e a l l y n e w i n Quesnay w a s h i s accounting f o r the e m e r g e n c e of s u r p l u s - v a l u e out of the s p h e r e of production, and a l s o h i s s p e c i f i c a t i o n of p a r t i c u l a r conditions of t h e c i r c u l a t i o n p r o c e s s (value r e l a t i o n s h i p s , consumption and taxing b e h a v i o r ) r e q u i r e d t o p r e s e r v e the r e p e a t e d o c c u r r e n c e of the i n i t i a l production " m i r a c l e 1 ' : m o r e c o m e s out than i s put in. This occurrence at f i r s t sight i s m e r e l y a m a t e r i a l (technological we would s a y today) d e t e r m i n a t i o n . But t h e f a c t t h a t additional d e t e r m i n a t i o n s c o n c e r n i n g the exchange c i r c u i t h a v e t o b e brought i n t o the p i c t u r e to a s s u r e i t s r e p e t i t i o n i s c r u c i a l , a n d shows t h a t w e s t a n d b e f o r e a surplus-v alue category. �The i m p o r t a n t thing h e r e i s that p r e c i s e l y those s e c o n d a r y d e t e r m i n a t i o n s r e - i n f o r c e t h e o r i g i n a l choice of what n e t value i s ( a f r e e d i s p o s i t i o n of c o r n by someone o t h e r than t h e p r o d u c e r ) , s i n c e this n e t e l e m e n t c a n only be m a x i m i z e d i f a c e r t a i n value-exchange r e l a t i o n s h i p p r e v a i l s i n t h e f i r s t p l a c e between c o r n a n d m a n u f a c t u r e s . This relationship ( a high p r i c e of c o r n in t e r m s of m a n u f a c t u r e s ) i m p l i e s t h a t t h e r a t e of p r o f i t ( o r s u r p l u s value) t e n d s to z e r o i n m a n u f a c t u r e s . I t i s a l s o i m p o r t a n t to s e e t h a t t h e extent to which n e t value e m e r g e s f r o m a g r i c u l t u r e i s a m e r e l y m a t e r i a l phenomenon only if one f o r g e t s that a c e r t a i n r e d i s t r i b u t i o n of r e s o u r c e s a c t s a s a n e c e s s a r y condition of such phenomenon, o r a t l e a s t of i t s extent. The distribution conditions Quesnay w a s a w a r e of : p r i c e , h e s a i d , i s but a r e g u l a t o r of d i s t r i b u t i o n . The p r i m i t i v e r e d i s t r i b u t i o n conditions h e f o r g o t a l m o s t c o m p l e t e l y , d e s p i t e h i s c l a i m i n f a v o r of t h e gentleman f a r m e r . political economy. T h e r e i s n o c l e a r path between the two e q u i l i b r i a i n h i s X I t i s quite s u r p r i s i n g that M a r x n e v e r m a d e m e n t i o n of t h i s question i n h i s c o m m e n t s on Quesnay, though the e l e m e n t s f o r such a n a r g u m e n t a r e p r e s e n t i n Capital (the c h a p t e r s on P r i m i t i v e Accumulation, Vol. I, and the chapter on L a w s of P r o d u c t i o n and L a w s of Distribution, Vol. 111). It i s n o t tota& s u r p r i s i n g , n e v e r t h e l e s s , i f one c o n s i d e r s that h i s t r e a t m e n t of P r i m i t i v e Accumulation i s m u c h m o r e s u c c e s s f u l in explaining t h e f o r m a t i o n of a p r o l e t a r i a n c l a s s , the f i r s t condition of t h e n e w m o d e of p r o d u c t i o n , than i n e x plaining the e m e r g e n c e of a c a p i t a l i s t c l a s s , the s e c o n d condition. As f o r Q u e s n a y ' s inability to d e a l e x p l i c i t l y with the conditions of a c t u a l a p p e a r a n c e i n h i s t o r y ( a s d i s t i n c t f r o m t h e l o g i c a l conditions of e x i s t e n c e o r X T h i s should sound f a m i l i a r t o m o d e r n e a r s . ( T o o f a m i l i a r , I m i g h t add, s i n c e t h e l a c k of any sound n e o c l a s s i c a l d y n a m i c s m i g h t v e r y well be g e n e r a l i z e d into the l a c k of any sound d y n a m i c s a t a l l ) . �e q u i l i b r i u m conditions) of the m o d e of production depicted i n the Tableau, i t s c o n s e q u e n c e s a r e worth analyzing. They not only d e p r i v e the m o d e l of r e a l h i s t o r i c a l i n t e r e s t , but could probably account f o r s o m e of i t s f o r m a l s h o r t c o m i n g s , i n the following s e n s e : Quesnay could have confused the genetic r e q u i r e m e n t s of the s y s t e m with i t s reproduction r e q u i r e m e n t s . The production and consumption of c o m m o n m a n u f a c t u r e d c o m m o d i t i e s was n o t g e n e r a l i z e d in F r a n c e i n t h e Ancien R g g i m e , t h e m a i n t h r u s t being d i r e c t e d d u r i n g the Colbertian p e r i o d t o w a r d s l u x u r y m a n u f a c t u r i n g i n o r d e r to get a s u b s t a n t i a l balance of s p e c i e i n f o r e i g n t r a d e . Thus i n t h e s t a t e of u n d e r - e m p l o y m e n t equilibrium of the p e r i o d , given the c o m p o s i t i o n of t h e m a n u f a c t u r e r s ' output, an i n t e r n a l flow of p u r c h a s e s and s a l e s i n t h e l a t t e r ' s s e c t o r w a s e i t h e r m e a n i n g l e s s o r e x p r e s s i n g a f u r t h e r d i v e r s i o n of r e s o u r c e s f r o m p r o d u c t i v e employment. Q u e s n a y h a d c e r t a i n l y t r o u b l e i n r e c o n c i l i n g t h e need f o r a c l e a r s t a t e m e n t of such evil with the c o h e r e n c e of h i s o p t i m u m mode of production m o d e l , where m a n u f a c t u r e s would n o t m e r e l y be l u x u r y goods and would c e r t a i n l y e n t e r into t h e s u b s i s t e n c e b a s k e t both of u r b a n and a g r i c u l t u r a l producers. T h e r e q u i r e m e n t s of c o h e r e n c e finally dominated i n the l a t e r v e r s i o n s of t h e Tableau, when t h e f a r m e r s ' p u r c h a s e of m a n u f a c t u r e s w a s c l e a r l y c o m p o s e d of consumption goods - but only a t t h e c o s t of d e - i n d u s t r i a l i z i n g the content of t h e d e p r e c i a t i o n flows ! The f i r s t p a r a g r a p h of t h e a r t i c l e on C o r n s e e m s v e r y helpful t o u n d e r s t a n d t h i s p a r t i c u l a r f e a t u r e of t h e T a b l e a u : " T h e m a n u f a c t u r e of t e x t i l e s and common f a b r i c s m a y i n c r e a s e g r e a t l y the value of linen and wool, and offer s u b s i s t e n c e t o m a n y people i f e m p l o y e d i n such productive a c t i v i t i e s . But one s e e s today that the production and t r a d e of m o s t of t h e s e goods i s a l m o s t a b o l i s h e d in F r a n c e . It i s a long t i m e s i n c e t h e l u x u r y m a n u f a c t u r e s h a v e seduced t h e n a t i o n : we do not h a v e e i t h e r the s i l k o r the wool t h a t a r e needed f o r t h e p r o duction of high quality t e x t i l e s and clothes; we h a v e c o m m i t e d o u r s e l v e s t o an i n d u s t r y which w a s f o r e i g n to u s ; we h a v e e m ployed in it a g r e a t m a n y people while t h e kingdom b e c a m e d e populated and the land w a s d e s e r t e d " . (Quesnay, 1888, p. 193). �T h e r e i s a v e r y c l e a r a n d often s t r e s s e d cpncept i n the T a b l e a u i n t h e s e n s e t h a t a l i m i t e x i s t s to the s c a l e of reproduction, n a m e l y the availability of n e c e s s a r i e s o r s u b s i s t e n c e goods. Tableau a r e directly All the flows i n the - o r i n d i r e c t l y r e l a t e d to this production and i t s r e a l i z a t i o n . T h o s e who do n o t p r o d u c e n e c e s s a r i e s can only i n c r e a s e t h e i r o p e r a t i o n s to t h e extent that t h e p r o d u c e r s of n e c e s s a r i e s ( o r the r e c e i v e r s of s u r p l u s ) i n c r e a s e t h e i r demand of n o n - n e c e s s a r i e s . (1) Why should they and how could they do s o ? The p r o d u c e r s of n e c e s s a r i e s could do s o only a s long a s they found i t u s e f u l to i n t r o d u c e n e w m a n u f a c t u r e d goods into t h e i r o p e r a t i o n s . But in the Tableau both working and fixed c a p i t a l come m a i n l y f r o m t h e v e r y p r o c e s s of a g r i c u l t u r a l production ( s e e d s , m a n u r e , food, fodder f o r t h e c a t t l e , the c a t t l e i t s e l f ) - and t h i s i s not always fully r e f l e c t e d i n t h e s u c c e s s i v e editions of the T a bleau, - s i n c e a p a r t of this c a p i t a l expense i s taken f o r g r a n t e d and n o t accounted f o r t h e r e . (2) T h e r e c e i v e r s of s u r p l u s could not expand t h e i r d e m a n d f o r m a n u f a c t u r e s without s a c r i f i c i n g p a r t of t h e i r demand f o r food (not s t r i c t l y ' n e c e s s a r y ' , a s noted above, but including r e f i n e d , expensive i t e m s ) . If they w e r e to do s o , the s c a l e of the s y s t e m would b e d a m a g e d s i n c e the productive c l a s s would not be a b l e t o g e t back t h e y e a r l y a d v a n c e s - while e n r i c h e d m a n u f a c t u r e r s would d i s p o s e of a l a r g e r p a r t of the s u r p l u s than t h a t r e q u i r e d to r e p r o d u c e t h e i r o p e r a t i o n s and would p r e s u m a b l y expand t h e m r a t h e r than indulge i n l u x u r y food consumption. M a n u f a c t u r e r s would only e x i s t to t h e extent t h a t s o m e o n e e l s e t r a n s f e r r e d to t h e m a c l a i m on t h e production of n e c e s s a r i e s with which t h e y a s well a s t h e i r w o r k e r s would s u b s i s t . If m a n u f a c t u r e r s w e r e to expand t h e i r o p e r a t i o n s by t r a d i n g with e a c h o t h e r , i. e . s e l l i n g m a n u f a c t u r e s to o t h e r m a n u f a c t u r e r s , o r t o t h e i r w o r k e r s , t h i s expansion would h a v e t o b e financied, s u p p o r t e d by a c o r r e l a t i v e expansion i n the production of n e c e s s a r i e s , s o m e t h i n g which i s not p r e s u m a b l y going to c o m e about u n d e r t h e s e conditions. Only ( a ) a saving of �the s u r p l u s r e c e i v e r s on t h e p u r c h a s e of m a n u f a c t u r e s ( c a n c e l l i n g t h e inc r e a s e d d e m a n d f o r the l a t t e r within t h e s e c t o r ) , o r (b) a h i g h e r productivity in a g r i c u l t u r e ( h a r d l y p o s s i b l e i n t h e o p t i m i z e d m o d e l of the Tableau), o r e l s e ( c ) a t r a n s f e r of working population f r o m towns to country (again making i m p o s s i b l e the expansion of i n d u s t r i a l production) - would a l l o w f o r t h a t i n c r e a s e i n m a t e r i a l s u p p o r t n e c e s s i t a t e d by expanding m a n u f a c t u r e s , while a t the s a m e t i m e killing the r e m a i n i n g conditions of t h e l a t t e r . No p r i c e s c a n b e d e r i v e d out of t h e Tableau. - The l a t t e r i s s e t in money t e r m s . No i n f o r m a t i o n i s given about the p h y s i c a l flows involved. But the additional d a t a i n t h e 'explanations' t e l l about the s c a l e s of t h e s e c t o r s , that i s , the population living and engaged i n e a c h of t h e m . If, t h e r e f o r e , c e r t a i n fixed co- efficients a r e a s s u m e d t o be p r e s e n t i n consumption - a s Quesnay himself a s s u m e s - then i t can be p o s s i b l e t o find a c e r t a i n s e t of exchange values which i s c o n s i s t e n t both with t h e m o n e y flows and t h e r e l a t i v e s c a l e s of p h y s i c a l consumption in the t h r e e c l a s s e s . Meek (1963) went halfway i n t h i s s e n s e and c a m e up with a solution f o r the unaccounted money flows in the T a b l e a u and t h e i r r e a l counterparts. The m a i n p r o b l e m w a s n o t only to give an a n s w e r to the a b s e n c e of any i n t e r n a l flow i n t h e m a n u f a c t u r i n g s e c t o r , but a l s o to couple t h a t with the annoying f a c t that a g r i c u l t u r a l population w a s a s s u m e d to be twice a s l a r g e a s population i n towns - engaged in t r a d e and m a n u f a c t u r i n g - while t h e i r r e s p e c t i v e consumption of food s e e m s a t f i r s t glance to be equal. As we s h a l l s e e , t h e r e i s n o c o m p l e t e l y s a t i s f a c t o r y way i n which t h i s d i s c r e p a n c y can be solved i n the T a b l e a u itself - another e x a m p l e of Q u e s n a y ' s confusion between t h e genetic c o n s t r a i n t s of the t r a n s i t i o n between t h e two e q u i l i b r i a ( n a m e l y , stopping f a r m e r s ' s o n s f r o m l e a v i n g the land) a n d the stability o r r e p r o d u c t i o n r e q u i r e m e n t s of the o p t i m u m mode of production. It i s high t i m e t h a t the a c t u a l f i g u r e s of t h e g a m e be known. A t o t a l of 5 billion l i v r e s worth of annual a g r i c u l t u r a l p r o d u c e i s d i s t r i b u t e d a m o n g the p r o p r i e t o r s ' c l a s s ( 1 billion food), t h e s t e r i l e c l a s s o r manufacturing c l a s s ( 1 billion food, �1 billion r a w m a t e r i a l s ) and t h e a g r i c u l t u r a l s e c t o r i t s e l f (1 billion food, 1 billion r a w m a t e r i a l s - m a i n l y s e e d s ) . p o r t i o n s 1/4, 1/4, Population i s d i s t r i b u t e d i n the p r o - 1/2 among t h e t h r e e c l a s s e s , in the s a m e o r d e r . The f a c t that t h e p r o p r i e t o r s get 1 billion food (i. e . 1/3 of a l l the food) f o r t h e consumption of 1 m i l l i o n f a m i l i e s out of a t o t a l of four m i l l i o n s , i s explained i n t e r m s of m o r e expensive i t e m s being c o n s u m e d by that c l a s s - which s e e m s to d i s p o s e of t h e hypothesis that the 2 billion worth of a g r i c u l t u r a l p r o d u c t s that r e m a i n within the s e c t o r a r e in f a c t food and only food, the s e e d s (in t h e r e j e c t e d c o n j e c t u r e ) being consumed i n n a t u r e and not accounted f o r in the T a b l e a u i t s e l f . M e e k ' s ingenious solution (1963, p. 279) of the p r o b l e m c o n s i s t s in c o n s i d e r i n g half t h e c o r n a v a i l a b l e i n t h e m a n u f a c t u r i n g and t r a d e s e c t o r a s food f o r e x p o r t and n o t f o r d i r e c t consumption - which r e d u c e s the l a t t e r t o 1/2 billion worth of c o r n , a f i g u r e c o n s i s t e n t with the population s c a l e s . The a c t u a l production i n t h e towns i s then w o r t h 1. 5 billion l i v r e s , to which 1/2 billion worth of i m p o r t e d p r o d u c t s h a s to be added and i s d i s t r i b u t e d t o g e t h e r with the p r e v i o u s 1. 5 billion to the p r o p r i e t o r s and f a r m e r s ( 1 billion to e a c h ) . T h i s i s a l s o c o n s i s t e n t with s e v e r a l p a s s a g e s w h e r e Quesnay a s s u m e s t h a t 1/10 of t h e annual production ( a g r i c u l t u r a l production) would b e e x p o r t e d - and allows f o r a n u n d e t e r m i n e d m e r c h a n t p r o f i t a c c r u e i n g to the towns which i s not r e g a r d e d a s damaging r e p r o duction, s i n c e i t would b e gained f r o m f o r e i g n c o u n t r i e s and n o t a t t h e e x p e n s e of f a r m e r s . X If t r a d e r s then should g e t m o r e than 1/2 billion worth of f o r e i g n m a n u f a c t u r e s a g a i n s t t h e i r 1 / 2 billion worth of e x p o r t s (in t e r m s of d o m e s t i c c o r n ) , they could spend the s u r p l u s i n luxury consumption within t h e i r c l a s s , o r e l s e expand t h e i r o p e r a t i o n s - a v e r y unlikely e v e n t s i n c e t h o s e i m p o r t s a r e not a s s u m e d to c o n s i s t of n e c e s s a r i e s . X This a l s o r e d u c e s (but d o e s not e l i m i n a t e ) the p r o b l e m T h i s M a r x called "the P h y s i o c r a t s r e v e r s i o n into M e r c a n t i l i s m " i n o r d e r to explain p r o f i t s i n the s t e r i l e c l a s s . The m e r c h a n t p r o f i t would be d e t e r m i n e d by the e x c e s s of value of i m p o r t s o v e r e x p o r t s i n t e r m s of c o r n . �of the s t e r i l e c l a s s ' consumption of i t s own p r o d u c t s , which i s r e p e a t e d l y taken a s m a t c h i n g food consumption - t h u s amounting not to 1 billion, but s t i l l to 1/2 billion both of m a n u f a c t u r e s a n d food. M a r x ' s solution following Badeau (in a v e r y quick mention of t h e question, M a r x , 1969, p. 379) i s t h a t in f a c t m a n u f a c t u r e r s s e l l a t p r i c e s above v a l u e s , that i s , h i g h e r t h a n t h e p r i c e s d e t e r m i n e d by the c o r n content of t h e i r p r o d u c t s , thus getting a s o r t of "profit upon alienation" (again of a m e r c a n t i l i s t n a t u r e ) which allows t h e m to spend in t h e i r own s e c t o r . In o t h e r w o r d s , i f t h e p r e v i o u s p i c t u r e would s u g g e s t a p r i c e of m a n u f a c t u r e s equal to t h e i r value ( o r 2 billion l i v r e s f o r whatever p h y s i c a l m e a s u r e of m a n u f a c t u r e s contains 2 billion worth of c o r n food a n d r a w m a t e r i a l s ) , now the 2 billion worth of m a n u f a c t u r e s t h a t a r e d i s t r i b u t e d in t h e Tableau to p r o p r i e t o r s and f a r m e r s would h a v e a d i r e c t c o r n content ( o r "value added") of 1. 33 billion l i v r e s , the r e m a i n i n g 0 . 6 6 billion of c o r n being s p e n t i n the m a n u f a c t u r i n g s e c t o r to f e e d w o r k e r s and provide f o r r a w m a t e r i a l s in the production of goods f o r i n t e r n a l consumption. not d i s p o s e of the p r o b l e m of population s c a l e s . ( T h i s , again, d o e s In t h i s l i g h t however, Q u e s n a y l s a l g e b r a i c i n c o n s i s t e n c y allows f o r a n i n t e r e s t i n g , a l m o s t conceptually "consistent", type of e r r o r : Quesnay would h a v e wiped out of the population p i c t u r e the a r t i s a n s o r m a n u f a c t u r e r s engaged i n t h e production of a r t i s a n a l i m p l e m e n t s . But even s o , a r e - a r r a n g e m e n t of the p r o p o r t i o n s i n which t h e two b r a n c h e s of the m a n u f a c t u r i n g s e c t o r should u s e c o r n - w a g e s and c o r n - r a w m a t e r i a l s would have to be p e r f o r m e d i n o r d e r t o g e t a v a l u e - s c a l e duality working c o h e r e n t l y ) . M e e k (1963, p . 282) r e j e c t s M a r x ' s explanation a s u t t e r l y c o n t r a d i c t i n g t h e P h y s i o c r a t i c notion t h a t the m a n u f a c t u r e r s ' p r o f i t s would be e r a s e d by competition - t h e s t e r i l e c l a s s being, p r e c i s e l y , unproductive, t h a t i s , getting n o p r o f i t s a t all in equilibrium. Yet M e e k ' s "ingenious solution" ( s e e a b o v e p . 20) m i g h t v e r y well be r e d u c e d to the s a m e exchange of l e s s c o r n ( e x p o r t s ) f o r m o r e c o r n equivalent ( i m p o r t s ) . �A c l o s e r look a t t h e i m p l i c a t i o n s of the above e x e r c i s e f o r m a n u f a c t u r i n g p r o - duction i n r e a l t e r m s t e l l s u s t h a t i n f a c t production, o r r a t h e r t h e p a r t of it which i s n e t and d i s t r i b u t e d to p r o p r i e t o r s and f a r m e r s , i s a c t u a l l y worth 2 billion l i v r e s , c o n s i d e r i n g both t h e d i r e c t and i n d i r e c t c o r n r e q u i r e m e n t s : i n o t h e r w o r d s , t h e c o r n that g o e s d i r e c t l y in the f o r m of wages and r a w m a t e r i a l s into the production of the 1. 3 3 billion m e a s u r e s of m a n u f a c t u r e s that get out of the s e c t o r , and t h e c o r n embodied in the 0. 6 6 billion m e a s u r e s consumed internally. - T h i s i s what M a r x w a s m o s t likely meaning when h e s a i d that t h e T a b l e a u was s e t i n value t e r m s (in E n g e l s , 1959, Chap. X, p. 258). It i s n o t that the p r i c e of m a n u f a c t u r e s , w h a t e v e r i t w a s , should b e h i g h e r than t h e i r value (only h i g h e r than the value added) a s a f o r m a l r e q u i r e m e n t of r e production i f a c c o u n t i s to be t a k e n of t h e f a c t that the s t e r i l e c l a s s sumes manufactures. con- It i s only t h a t t h e d i r e c t c o s t s (not p r i c e ) a r e l e s s than t o t a l c o s t s - and no p r o f i t a t a l l should a r i s e f r o m t h i s f a c t . Two i m p o r t a n t consequences can be d e r i v e d h e r e ; t h e f i r s t i s r a t h e r a parti pris a n d t h e second m o r e of a n i n t e r e s t i n g concept f o r t h e c o n s i d e r a t i o n of P o l i t i c a l Economy a s i t developed through t i m e : 1. C o r n i s the s t a n d a r d of value in the Tableau, and t h e r e f o r e i t i s t h e p r i c e of c o r n - not that of m a n u f a c t u r e s - the one which i n a s e n s e (which I will define in a m o m e n t ) h a s to be h i g h e r than value 2. T h e m o d e l we a r e dealing with i s one in which c a p i t a l i s n o t y e t a f u l l y developed commodity : i t i s m a i n l y p r o d u c e d within e a c h s e c t o r and d o e s n o t e n t e r c i r c u l a t i o n - c i r c u l a t i o n a m o n g c l a s s e s . ( T h i s i s why Quesnay w a s s o unconcerned about adding o r s u b s t r a c t i n g i n t e r n a l f l o w s , o r p a r t of t h e m , f r o m t h e whole p i c t u r e , ~ovided t h a t annual r e p r o d u c t i o n was a s s u m e d to f r e e l y r e g e n e r a t e t h o s e flows). As to t h e f i r s t question, the b a s i s of t h e P h y s i o c r a t i c t h e o r y of value i s the c o r n content of c o m m o d i t i e s - c o m m o d i t i e s being the p r o d u c t s exchanged between �classes. Corn i s the v a l u e - s u b s t a n c e h e r e . Thus the value of m a n u f a c t u r e s , a s we s a w , i s equal to t h e quantity of c o r n t h a t g o e s into i t s production, and no " d i r e c t c o r n " (i. e . n o c o r n to produce c o r n ) being used i n t h i s s e c t o r , the r a t e of s u r p l u s - v a l u e i s z e r o . Corn i t s e l f should be c o n s i d e r e d under two headings : c o r n a s s u b s t a n c e of value, which h a s by definition no value i t s e l f , and commodityc o r n , whose value i s equal to the amount of c o r n embodied i n i t s own production. The c o r n socially n e c e s s a r y to p r o d u c e a unit of n e t c o m m o d i t y - c o r n ( t h e amount, that i s , of s e e d - c o r n and w a g e s - c o r n u s e d up in an ideal input-output s y s t e m w h e r e m a n u f a c t u r i n g production would h a v e been s c a l e d down just a s m u c h a s i s needed n o t to p r o d u c e n e t m a n u f a c t u r e s f o r t h e p r o p r i e t o r s ' c l a s s ) h a s to be l e s s than unity, o r e l s e t h e s y s t e m would be unproductive. Q u e s n a y ' s r a t e s of r e - production : 100% n e t o r 150% g r o s s r e p r o d u c t i o n - including the i n t e r e s t on f i x e d c a p i t a l - s e e m t o i m p l y t h a t 1/1. 5 productive o r d i r e c t c o r n ( s e e d s and a g r i c u l t u r a l w a g e s ) g o e s into the production of one unit commodity c o r n . In M a r x ' s t e r m s : sc - - Vc seed corn Sc .! Cc = -- surplus corn + surplus corn wages c o r n - 1 - 1.5 1 + 1 + feed grain = seed corn 4 wages c o r n VC 2 -- 2 + 1 14-1 Now w e c a n calculate the c o r n - v a l u e of c o m m o d i t y - c o r n r e l a t i v e to t h e c o r n value of m a n u f a c t u r e s ( a s s u m i n g , a s above, that we a r e dealing with p h y s i c a l u n i t s of c o r n , s a y Q m s , and unit p h y s i c a l m e a s u r e s of m a n u f a c t u r e s ) : Xc = unit c o r n - v a l u e of c o m m o d i t y c o r n = total c o r n r e q u i r e m e n t s g r o s s output of c o r n - �Xm = - 2 total c o r n u s e d up in MNF - g r o s s output of M N F (amc) 3 (units MNF) = unit c o r n - v a l u e of M N F ' s cm Cm + (4 Vm + Vm = 4 Sm - Aggregate value of production in t e r m s of c o r n : 5 unitsof corn " Xc + 3 unitsMNF " Am = 5' 3 2 4 3'-- = 5(Qmc 5 3 R e l a t i v e exchange value of MNF in t e r m s of c o r n : A m Ac = ( Q m c o r n ) /(units M N F ) (Qm corn)/(a m corn) = ( a m corn) -- (unit MNF) 2/3 - = 1.11 3/5 Now, s i n c e the m o n e y value of both one Q m c o r n and a p h y s i c a l unit of M N F i s equal to unity (for t h i s i s what t h e p r o p r i e t o r s ' c l a s s g e t s a g a i n s t 2 u n i t s money rent) : ( ( R e n t = 2$ -- 1 $ = 1 unit M N F 1 $ = 1 Qm c o r n $/unit MNF $ / ~ mc o r n = = 1 1 D L Relative p r i c e = 2 PC = Qm c o r n unit MNF = 1 11 q . e. d. The s c h e m e i s p a r a l l e l to M a r x ' s dual t r e a t m e n t of l a b o u r , whose u s e value, a p p r o p r i a t e d by t h e c a p i t a l i s t i n production, e x c e e d s i t s exchange value. S i m i l a r l y f a r m e r s do not "pay back" t o land and a g r i c u l t u r a l l a b o u r in the f o r m of s e e d s and wages t h e f u l l amount of t h e i r value i n u s e . Soil and a g r i c u l t u r a l l a b o u r a p p e a r h e r e a s c o n t a i n e r s of p r o d u c t i v e c o r n , a s c o r n i n a t r a n s f o r m e d a p p e a r a n c e , j u s t a s the w o r k e r contains l a b o u r - p o w e r i n the M a r x i a n t h e o r y of value and g e t s a m e r e r e s t i t u t i o n of it a f t e r e x e r t i n g it i n t h e f o r m of living labour o r labour activity. Cm(Qm c o r n ) - 2 In f a c t m o r e s t r i c t would be C,(unit MNF) - 3 since no " d i r e c t corn" i s u s e d i n M N F production, s o t h a t V m = 0 and t h e r e f o r e Sm = 0 . X --- . �A s to t h e s e c o n d point mentioned above, in addition to h e 5 billion worth of c o r n annually p r o d u c e d i n a g r i c u l t u r e this s e c t o r p r o d u c e s a f u r t h e r billion, which i s n o t accounted f o r i n the Tableau ( a s Quesnay himself pointed out) in t h e f o r m of feed grain. X T h i s i t e m c a n s t a n d f o r o u r p u r p o s e s a s a r e p r e s e n t a t i v e of d i f f e r e n t t y p e s of fixed c a p i t a l annually u s e d up - c a t t l e being h e r e fixed capital and f e e d g r a i n a proxy f o r t h e d e p r e c i a t i o n flows and up-keep c o s t s a s s o c i a t e d to the f o r m e r . Q u e s n a y ' s point of view i s that t h i s constant c a p i t a l , s i n c e i t d o e s not c i r c u l a t e in t h e s t r o n g s e n s e , t h a t i s , between c l a s s e s , can b e d i s p e n s e d with in the accounting e x e r c i s e s , p r o v i d e d that i t s availability y e a r a f t e r y e a r i s a s s u r e d . The s a m e point i s m a d e , explicitly o r not, i n r e g a r d to the m a n u f a c t u r i n g s e c t o r , though t h e r e the e n t i r e i s s u e i s l e s s i m p o r t a n t ; m o s t a n a l y s e s h a v e i n t e r p r e t e d the point, in t h e context of manufacturing, a s r e f l e c t i n g the h i s t o r i c a l f a c t t h a t no m a c h i n e r y w a s a s s u m e d to be i n u s e t h e r e , o r , i n o t h e r w o r d s , that m a n u f a c t u r e s w e r e produced on a n a r t i s a n a l b a s i s . It should b e c l e a r i n t h e light of t h i s a r t i c l e , h o w e v e r , t h a t the "no m a c h i n e r y " c l a u s e i s n o t n e c e s s a r i l y implied i n t h e m o d e l , but only the f a c t t h a t m a c h i n e r y i s not p r o d u c e d outside the worlcshop t u r n i n g o v e r common manufactures. Q u e s n a y ' s s t a n d m i g h t be s u m m e d up in t h e t e r m s u s e d by M a r x a s c o r r e s p o n d i n g to a situation w h e r e fixed capital goods, e x i s t i n g o r not, h a v e n o t b e c o m e c o m m o d i t i e s and s c a r c e l y c i r c u l a t e within e a c h c l a s s (and not a t a l l between c l a s s e s ) . XX T h i s c o n s t i t u t e s an i n t e r e s t i n g clue f o r t h e c o r r e c t u n d e r s t a n d i n g of t h e developm e n t of P o l i t i c a l Economy; I will come back to t h i s s u b j e c t i n t h e l a s t s e c t i o n of this article. X Meek (1963, p . 2 8 3 and f f . ) c o n s t r u c t e d the accounting s y s t e m a p p r o p r i a t e to the c o r r e s p o n d i n g 6 billion r e p r o d u c t i o n . XX The p a s s a g e s w h e r e the d e p r e c i a t i o n flows i n t h e a g r i c u l t u r a l s e c t o r a r e m a d e out to b e c o m p o s e d of m a n u f a c t u r e s ( t o o l s , p a r t s ) h a v e t o be r u l e d o u t i n the context of the o v e r a l l m o d e l (Meek, 1963, p. 279, n. 5 ) . �111. Quesnay v e r s u s R i c a r d o on T r a d e T h e slogan " l a i s s e z f a i r e , l a i s s e z p a s s e r " i s u s u a l l y linked to the P h y s i o c r a t s though i t p r o b a b l y w a s f i r s t utilized by t h e p r e - P h y s i o c r a t Boisguillvert. What i s l e s s commonly r e a l i z e d i s t h a t the economic m e a n i n g of t h e slogan i s exactly t h e c o n t r a r y of what f r e e t r a d e h a s come to m e a n in the Anglo-Saxon t r a d i t i o n . F r e e T r a d e m e a n t f o r the P h y s i o c r a t s f r e e d o m within the nation (and of t r a d e -- i n t h i s they w e r e pointing to the s a m e integration o r unification of the n a t i o n a l m a r k e t to which the M e r c a n t i l i s t s referred) and f r e e e x p o r t of c o r n , not p r e c i s e l y f r e e import. N. J. W a r e (1931), who d r a w s e x t e n s i v e l y on L e M e r c i e r d e l a R i v i e r e , n e a t l y e m p h a s i z e d t h i s point. L e M e r c i e r went f u r t h e r than t h a t , f o r h e m a d e c l e a r t h a t a f t e r the o p t i m u m m o d e of production w a s a t t a i n e d foreign t r a d e would be u n n e c e s s a r y - although i t would have to b e a n open p o s s i b i l i t y in the way of a r e g u l a t o r of p r i c e . According to La M e r c i e r : "A nation, o n c e a r r i v e d a t the b e s t p o s s i b l e conditions, h a s no m o r e u s e f o r the h e l p of f o r e i g n t r a d e . . . i t s e x t e r n a l t r a d e d i m i n i s h e s in the s a m e r a t i o a s i t s i n t e r n a l t r a d e inx creases''. T h u s , i n t h e t r a n s i t i o n between the two e q u i l i b r i a , t r a d e p l a y s a leading r o l e ( s e e the P r e m i e r P r o b l ' e m e Economique, Quesnay, 1888). F r e e e x p o r t of c o r n p u s h e s g r a i n p r i c e s up s o t h a t the new c a p i t a l i s t f a r m e r i s a b l e to quickly r e c o v e r the a d v a n c e s n e c e s s a r y to s e t i n motion the n e w m o d e of production with h o r s e s and l a r g e s c a l e exploitation of land. At t h e s a m e t i m e , f r e e i m p o r t of m a n u f a c t u r e s c o m p e t e s away m a n u f a c t u r e r s ' p r o f i t s , s o t h a t the l a t t e r a r e not a b l e t o i m p a i r t h e s m o o t h r e p r o d u c t i o n of t h e huge c a p i t a l o u t l a y s m a d e i n t h e n e w m o d e of production. X L e M e r c i e r (quoted i n N. J . W a r e , 1931) s o u n d s v e r y m u c h lilce t h e Keynes of "On National Self-Sufficiency'' who s a i d : l e t p r o d u c t i o n b e h o m e - s p u n w h e n e v e r p o s s i b l e , a n d , a b o v e a l l , l e t finance b e p r i m a r i l y n a t i o n a l . Self-sufficiency, h e a d d e d , i s a c o s t we can afford. �Once t h i s new mode of p r o d u c t i o n ( c e r t a i n l y n o t a m e r e new "technique" s i n c e new s o c i a l r e l a t i o n s h i p s a r e involved i n t h e change) i s f i r m l y e s t a b l i s h e d , h o w e v e r , f r e e t r a d e m e a n s only that t h e new c o m m o n e r l a n d o w n e r s do not have to w o r r y x about a s h a r p f a l l i n c o r n p r i c e s when l a r g e e x c e d e n t s a r e obtained. Quesnay h a s o b s e r v e d t h a t a f t e r y e a r s of plenty, f a m i n e i n v a r i a b l y s e t in. F a r m e r s would c u t production down to the l e v e l s a t which t h e i r b a r e s u b s i s t e n c e w a s a s s u r e d and s c a r c i t y would e n s u e . (The s a m e kind of r e a s o n i n g s u s t a i n s m o d e r n p o l i c i e s of p r o t e c t i o n to a g r i c u l t u r e , in the f o r m of d i r e c t s u b s i d i e s to f a r m e r s and g u a r a n t e e d p u r c h a s e s of s u r p l u s c o r n by the State, a s well a s in the f o r m of i n c e n t i v e s to l i m i t cultivated l a n d . XX) The situation s t a n d s i n total c o n t r a s t with R i c a r d o ' s c o m p a r a t i v e c o s t d o c t r i n e , a t l e a s t a t f i r s t sight. E n g l a n d ' s population i n t e n s i t y put l a n d o w n e r s i n t h e position of r e a p i n g a l l the benefits of growth, eventually putting a d r a g on t h e latter. In a situation of d e c r e a s i n g r e t u r n s to l a b o r and c a p i t a l p a r a l l e l i n g pop- ulation growth a n d the exhaustion of land of good quality, the only way out f o r t h e English dominant c l a s s w a s t o r e l y in the expansion of m a n u f a c t u r i n g a g a i n s t t h e i n t e r e s t s of l a n d e d c l a s s e s , i . e . , abolishing t h e C o r n L a w s and getting c h e a p corn from abroad. Q u e s n a y ' s insight i s s t i l l v a l i d t h e r e , f o r f o r e i g n c o r n n o t being " s a f e c o r n " i n c a s e of w a r , w a r had t o p r e c e d e i t s d e l i v e r y - both ideo- l o g i c a l w a r ( E n g l i s h p o l i t i c a l e c o n o m i s t s t r y i n g t o convince a g r i c u l t u r a l n a t i o n s of t h e i r own i n t e r e s t i n s p e c i a l i a l i z i n g i n c o r n e x p o r t s to England) and v e r y m a t e r i a l x Could t h ~ sbe i n t e r p r e t e d a s a dynamic l i n e a r p r o g r a m f o r the t r a n s i t i o n p e r i o d ? After the o p t i m u m had been attained, then, e x t e r n a l m a r k e t s would b e brought to b e a r to i m p e d e p o s i t i v e s u r p l u s e s to b e c o m e f r e e goods which would o t h e r w i s e downgrade the s y s t e m back t o w a r d s the s t a r t i n g point, given the identification between s u r p l u s a p p r o p r i a t o r s and c o n t r o l of the e n t i r e p r o c e s s . XX P e r h a p s the m a i n d i f f e r e n c e between the P h y s i o c r a t i c p r e s c r i p t i o n and Nixon's c o n t r o l of wages and p r i c e s ( f a r f r o m the " l a i s s e z f a i r e , l a i s s e z p a s s e r " f o r m u l a , i n d e e d , but leaving f a r m p r i c e s f r e e to r i s e ) i s t h a t f o r t h e l a t t e r s u r p l u s c o r n i s v a l u e , not b e c a u s e t h e well-being of the m a s s e s and the m e a n s to wage s u c c e s s f u l w a r s have to be a s s u m e d , but b e c a u s e having l o s t a w a r t h e G o v e r n m e n t s t i l l h a s to p a y f o r the c o r r e s p o n d i n g f o r e i g n debt - and h e i s paying i t i n c o r n , a s e v e r y o n e knows. C o l b e r t - r e m e m b e r - had m a n a g e d t o wipe out t h e K i n g ' s debt b e f o r e the P h y s i o c r a t s w e r e writing. �w a r (the English F l e e t showing the f l a g i n the c o a s t s of P o r t u g a l e v e r y t i m e t h a t l o c a l p r o d u c e r s of clothes t r i e d to g e t s o m e p r o t e c t i o n f o r t h e i r e m e r g i n g i n dustries). Thus, even if the P h y s i o c r a t i c f o r m u l a m i g h t a p p e a r a s a p e r f e c t complement of R i c a r d o ' s d o c t r i n e s e e n f r o m t h e o t h e r s i d e of t r a d e , t h e r e v e r s i b i l i t y i s not completely legitimate. i n the l a s t r e s o r t . modities. The nation producing b a s i c c o m m o d i t i e s s t a n d s to gain basic comC o m m o d i t i e s a r e not produced t o u t c o u r t , but by - The Millian couching of t h i s duality in t e r m s of r e c i p r o c a l demand, and then in t e r m s of d i f f e r e n t e l a s t i c i t i e s of demand, d o e s not c a t c h , I think, the m i s s i n g link i n t h e o r i g i n a r y R i c a r d i a n a p p r o a c h : on the c o n t r a r y it adds to it f u r t h e r r e s t r i c t i o n s in f a c t (demand a g g r e g a t i o n ) . Everything i s fine f o r everybody s o long a s n a t i o n a s do n o t f e e l t h r e a t e n e d by e a c h o t h e r , e i t h e r by t h e i r p r e t e n s e of i m p r o v i n g t h e i r r e c i p r o c a l t e r m s of t r a d e o r by colliding i n t h e p r e t e n s e of s e c u r i n g domination o v e r t h i r d c o u n t r i e s ( t o obtain the l a t t e r ' s b a s i c s a s well a s s e c u r e t h e i r m a r k e t s ) . In Q u e s n a y ' s view, F r e n c h i n d u s t r y had to "pay a subsidy" to a g r i c u l t u r e ( i . e . r e n o u n c e n e t p r o f i t s ) s o t h a t the nation would be a b l e to peacefully e x e r c i s e in t r a d e the p o w e r given h e r by h e r abundant endowment of good land. The English b o u r g e o i s i e , i n s t e a d , had to be- c o m e i m p e r i a l i s t b e f o r e it w a s too l a t e , that i s , b e f o r e i t s r e a l w e a k n e s s a p p e a r e d . T h e r e a r e i n s t a n c e s w h e r e Quesnay s e e m e d to r e a l i z e to what extent the c o r n f r o m Pennsylvania was a t h r e a t to his entire doctrine. It w a s q u i t e c l e a r to the P h y s i o - c r a t s t h a t the m a r k e t value of production depended on d e m a n d n o r m of value ("so i s the m a r k e t , so i s reproduction"). - c o s t providing the Only with Turgot, X how- e v e r , did the P h y s i o c r a t s r e a l i z e that (not only t h e North A m e r i c a n English c o l o n i e s , but a l s o ) an i n n e r development of the v e r y c a p i t a l i s t m o d e of production they h e r a l d e d would definitively b l e s s the i n d u s t r i a l b o u r g e o i s i e - f i r s t of a l l i n X See I. C . Lundberg (1964) w h e r e i t i s c a r e f u l l y shown t h a t i t i s f r o m T u r g o t ' s work t h a t A. Smith b o r r o w e d n o t only g e n e r a l i n s p i r a t i o n but the v e r y t e r m 'capital'. �England - a s the c l a s s of t h e f u t u r e . F a r f r o m m a n u f a c t u r i n g becoming a b r a n c h of a g r i c u l t u r e , a s they p r e t e n d e d , a g r i c u l t u r e would i t s e l f become a branch of i n dustry. Q u e s n a y ' s l a s t writing on e c o n o m i c s ( L e t t r e du F e r m i e r a s o n P r o p i e t a i r e and L e t t r e du p r o p i e t a i r e a s o n f e r m i e r , 1768, in Quesnay, 1888) i s a d e s p e r a t e a t t e m p t to c o u n t e r a c t the a r g u m e n t , a l r e a d y p e r v a d i n g F r a n c e i t s e l f , that ' s a t i s l a c t i o n ' ("jouissance") w a s the b a s i s of value, s o that newly c r e a t e d n e e d s ( i . e. f o r m a n u f a c t u r e s ) should be welcome in a g r i c u l t u r e i t s e l f . Urban and r u r a l m a r k e t s would s t i m u l a t e e a c h o t h e r , once a g r i c u l t u r a l c a p i t a l i s m w a s e s t a b l i s h e d , to the e x t e n t that m a n u f a c t u r e s would become a n e c e s s a r y input in c o r n production; to the e x t e n t , that i s , t h a t t h e a g r i c u l t u r a l wages w e r e t r a n s f o r m e d , and s u b s i s t e n c e b e c a m e a h i s t o r i c a l l y changing s t a n d a r d r a t h e r than a p h y s i c a l i n v a r i a n t Quesnay himself w a s n e v e r totally c l e a r about the content of the f a r m e r ' s p u r c h a s e s of m a n u f a c t u r e s - g e n e r a l l y (and wrongly) i n t e r p r e t e d a s c o n s i s t i n g only of t o o l s . But, a s Malthus pointed out to R i c a r d o , X a s soon a s p e a s a n t s and f a r - m e r s s t a r t e d consuming m a n u f a c t u r e s , the o n e - c o m m o d i t y world of c o r n p r o ducing c o r n (and t h e r e f o r e t h e unambiguous c o r n r a t e of p r o f i t ) c e a s e d to m a k e sense. n e c e s s i t y of s u c h a development h a s to b e qualified i n the light of the Still, t h e f a c t that i t was England (not F r a n c e , "the a g r i c u l t u r a l country") w h e r e c a p i t a l i s m took the l e a d - and we know t h a t the t r a n s f o r m a t i o n of m a n u f a c t u r e s into i n t e r n a t i o n a l l y b a s i c c o m m o d i t i e s w a s the only way out f o r t h e English b o u r g e o i s i e . This i s not s a i d to imply t h a t c a p i t a l i s m could have p r o c e e d e d o t h e r w i s e ( I e m p h a s i z e d above t h e l o g i c a l a s well t h e h i s t o r i c a l weakness of P h y s i o c r a c y in i t s relation to t h e genetic conditions of a p r e d o m i n a t e l y a g r i c u l t u r a l c a p i t a l i s m , i t s l e a d o v e r r e a l d e v e l o p m e n t s , a s a g a i n s t t h e lag behind t h e m t h a t c h a r a c t e r i z e both Smith1s a n d R i c a r d o ' s d o c t r i n e s i n r e l a t i o n to t h e i r s o c i e t y and t i m e ) . X See S r a f f a (1970), p. xxxii But it i s i m p o r t a n t �t o b r i n g to b e a r the contingency of such developments on t h e a c t u a l path of the o v e r a l l development of c a p i t a l i s m , that i s , the s h o r t c u t s t h a t h i s t o r y finds and t h e l i k e l y consequence t h a t h i s t o r y a p p e a r s then m o r e obvious than i t a c t u a l l y i s i f I m a y put i t this way. A f t e r what h a s been s a i d , i t should be c l e a r why the English c l a s s i c i s t s (whose d o c t r i n e e x p r e s s e d an a l l i a n c e between b o u r g e o i s and w o r k e r a g a i n s t landowners h i p ) substituted l a b o u r f o r c o r n - o r l a b o u r f o r land a n d a g r i c u l t u r a l l a b o u r - a s t h e s t a n d a r d of value. M o r e p r e c i s e l y : i t should be c l e a r that t h i s t u r n of the - - h i s t o r v of economic thought i s not a m e r e logical m i r r o r of what t h e r e a l d e t e r jeii&re,"=.~P of- ih.?.w,?icle:krmir~ai-i/,r.;,i oi: *'lib..m.o$!i ..dp!:.~.ii+ : %:!?+?n. m i n a t i o n s of a pure c a p i t a l i s t m o d e of they developed i n a p a r t i c u l a r country. That i s , England h a d l a b o r and l a c k e d c o r n , w h e r e a s t h e situation of the F r e n c h countryside w a s t h e r e v e r s e . X Q u e s n a y , h o w e v e r , w a s contemptuous of the n e c e s s i t y of m e n ("whose p h y s i c a l constitution shows only n e e d s " ) and s t r e s s e d the p r i o r i t y of c a p i t a l . He was p e r - h a p s m o r e d i s t r e s s e d by t h e f a c t that the s o n s of the f a r m e r s fled t h e countryside taking s o m e of t h e f a m i l y ' s wealth with t h e m , than by t h e m e r e d e s e r t i o n of land by people. H i s r e m a r k s on what a good a r m y i s ( s e e above, p. 7 ) , XX a n d on the c a p i t a l - i n t e n s i v e c h a r a c t e r of l a r g e s c a l e a g r i c u l t u r e a r e equally definite in this respect. H i s value t h e o r y w a s then in a s e n s e m o r e " c a p i t a l i s t " than t h e English c l a s s i c a l theory T h i s i n t e r n a t i o n a l a s p e c t of t h e t h e o r y of value u n d e r c a p i t a l i s m , o r i n o t h e r w o r d s , the national s p e c i f i c i t y of c a p i t a l i s t development, and t h e r e f o r e of t h e d e v e l o p m e n t of P o l i t i c a l E c o n o m y , i s worth a d e d i c a t e d , s e r i o u s r e v i v a l - I X It would be i n t e r e s t i n g to r e - m a k e R i c a r d o ' s n u m e r i c a l e x e r c i s e on comp a r a t i v e advantage between, s a y , F r a n c e a n d England, not i n t e r m s of l a b o r v a l u e s , a s h e did, but in t e r m s of the c o r n content of c o m m o d i t i e s and i n v e s t i g a t e whether i t i s t r u e t h a t the r e l a t i v e efficiencies would s t a y t h e s a m e . XX S e e a l s o Quesnay, 1888, pp. 219-220 and 245. �s u g g e s t - e s p e c i a l l y in view of the m e s s into which the R i c a r d i a n o r i g i n s of the m a i n s t r e a m of e c o n o m i c s have l e d u s when the m o m e n t c o m e s to s a y anything m i n i m a l l y sound in the field of development economics and t r a d e . F o r one thing, t h e P h y s i o c r a t s , d e s p i t e a l l a g r i c u l t u r a l r e v o l u t i o n s , have p r o v e d r i g h t in the l a s t a n a l y s i s . T r a d i n g m a n u f a c t u r e s f o r c o r n w a s not the long run solution f o r England (though, who would deny i t , England h a s got a m o r e than f a i r run f o r h e r m o n e y ! ) . The Smithian a p p r o a c h of finding i n t r a d e "a vent f o r s u r p l u s " - a concept v e r y m u c h P h y s i o c r a t i c i n e s s e n c e - coupled with s p e c i a l i zation in h a r d - c o r e b a s i c s , whose s u r p l u s e s constitute p r e c i s e l y t h e b a s i s of t r a d e , i s proving t h e u l t i m a t e wisdom in the c o n t e m p o r a r y w o r l d . Of c o u r s e i t can be s a i d that, i f not e x a c t l y R i c a r d i a n , the e n t i r e a r g u m e n t f i t s p e r f e c t l y well the H e c k s h e r - O h l i n ( o r modified R i c a r d i a n ) f r a m e w o r k , w h e r e technology cannot b a s e advantage - s i n c e i t i s a s s u m e d equally a v a i l a b l e e v e r y where X - and t h e r e f o r e f a c t o r endowments h a v e t h e l a s t w o r d in t r a d e and specialization. Of c o u r s e , again, i t can be s a i d that England w a s s i m p l y too Q1'P s m a l l a n d had to wind up with a 5% of a g r i c u l t u r a l population in o r d e r t o p r o d u c e s o m e c o r n a t a l l , t h a t i s to s a y , in o r d e r to p r o d u c e the c a p i t a l goods n e e d e d to s u b s t i t u t e f o r the d i m i n i s h i n g quality of m a r g i n a l l a n d s . It i s m o r e f r u i t f u l , h o w e v e r , t o a p p r o a c h the question of the r e l a t i v e s c a l e s of s e c t o r a l population a s having to do with the B r i t i s h E m p i r e a n d the p o s s i b i l i t y of t h e r e b y getting cheap c o r n . The ' E m p i r e ' c l a u s e i s n o t t r i v i a l h e r e , s i n c e , a s I hinted b e f o r e , t h e c h e a p n e s s o r d e a r n e s s of f o r e i g n c o r n ( a t l e a s t of F r e n c h c o r n ) had to do with the f a c t t h a t the P h y s i o c r a t s wanted to build a s t r o n g a r m y upon i t . Thus any value t h e o r y , i f r e f e r r e d to a s o - c a l l e d closed e c o n o m y , h a s to b r e a k down when the f a l s i t y of the c l o s e d n e s s a s s u m p t i o n r e v e a l s i t s e l f i n one way o r X An a s s u m p t i o n a l s o p r e s e n t in the T a b l e a u , w h e r e r e t u r n s w e r e calculated on t h e b a s i s of m o r e advanced, c a p i t a l i s t E n g l i s h f a r m i n g . �another. X F u r t h e r : t h e r e i s a s e n s e (only one to be s u r e ) i n which the P h y s i o - c r a t i c t h e o r y of value w a s m o r e g e n e r a l than the c l a s s i c a l English l a b o u r t h e o r y of value. F o r t h e f o r m e r did n o t s t a n d i n contradiction with i t s own f o r m a l r e q u i r e m e n t s r e g a r d i n g t h e i n t e r n a t i o n a l economy, while the English l a b o r t h e o r y of value r e s t e d upon t h e falsification of t h e r e l a t i o n s h i p s between the p r o d u c t i v e n e s s of l a b o r a n d the behavior of a g g r e g a t e , s o c i a l c a p i t a l i n foreign countries. Thus, if t h e p r o d u c t i v e n e s s of m a n u f a c t u r i n g l a b o r i n a f o r e i g n c o u n t r y w a s l e s s than that of England (and it had to b e , given the i n i t i a l cond i t i o n s ) the f o r e i g n c o u n t r y had to buy i n England, and any a t t e m p t of f o r e i g n p r o d u c e r s to a c t a s c o l l e c t i v e capital and i m p o s e r e s t r i c t i o n s on t r a d e h a d to be impeded. T h i s i s what, i n d i f f e r e n t ways, both R i c a r d o ' s d o c t r i n e and the Royal F l e e t a c c o m p l i s h e d (the r e l a t i o n s h i p between d o c t r i n e and politics being a r a t h e r c o m p l e x one - I a m not s u g g e s t i n g that R i c a r d o convinced f o r e i g n c o u n t r i e s , f o r in t h i s c a s e , why the n e e d f o r a F l e e t ? ) . It can be s a i d that Q u e s n a y ' s high p r i c e of c o r n depended on the s a m e a s s u m p t i o n . But t h e r e i s a slight, c r u c i a l d i f f e r e n c e : any Input-Output t a b l e of the p e r i o d , i n c o r p o r a t i n g both m a t e r i a l i z e d and living l a b o r r e q u i r e m e n t s , would show why t h e a g r i c u l t u r a l - n a t i o n h a d t h e advantage of playing on t h e o t h e r ' s m o r e p r e s s i n g needs. XX I do not think that M a r x c o m p l e t e l y r e a l i z e d what w a s a t s t a k e h e r e . Firstly, h e s e t t l e d f o r the l a b o r t h e o r y of value b e c a u s e of i t s u n i v e r s a l i t y , b e c a u s e X Think of J. S. M i l l ' s c o n s i d e r a t i o n of t h e West Indies a s an ' i n t e r n a l s e c t o r ' of t h e B r i t i s h economy, a l o g i c a l r e q u i r e m e n t of the t h e o r e t i c a l a p p a r a t u s handled by the c l a s s i c i s t s . XX T o d a y ' s n e o - R i c a r d i a n , " l i m i t s to growth" b r a n d of d o c t r i n e s in the m o s t a d v a n c e d c o u n t r i e s , will hopefully be m a t c h e d by n e o - Q u e s n e y a n , neo-Smithian t h e o r i e s in the o i l , c o p p e r (and so on) p r o d u c i n g c o u n t r i e s . Yet the l a t t e r m a y o r m a y not r e a l i z e that t h e m i n i m u m s c a l e c o n s t r a i n t will r e d u c e t h e m to p o w e r l e s s t o y s in t h e h a n d s of the i m p e r i a l nations, e s p e c i a l l y s i n c e t h e i r c o m m o d i t i e s a r e not b a s i c s i n t h e i r own production m a t r i x . �l a b o r t i m e (and not c o r n and c e r t a i n l y not capital) i s t h e m e a s u r e of value f o r the m o s t universal c l a s s . But s e c o n d l y , the d i s c i p l i n e he methodically i m p o s e d on h i m s e l f a s to the sequence of h i s i n q u i r y , leaving the c o n c r e t e , complex aggregates - s t a t e , world t r a d e - until t h e v e r y l a s t (which n e v e r c a m e out), m a y account for this lacuna. Socially n e c e s s a r y l a b o r , t h e m e a s u r e of value, i s not the s a m e a s i n t e r n a t i o n a l l y n e c e s s a r y l a b o r , s o t h a t l a b o r s of equal d u r a t i o n s would not exchange equally i n world t r a d e . L e t m e advance a p r o - position which c e r t a i n l y r e q u i r e s m u c h m o r e than a l i n e to a c q u i r e total signi- *#?is f i c a n c e : the p r o b l e m i s t h c t \ ' u n i v e r s a l c l a s s ' i s p r e c i s e l y not u n i v e r s a l - in o t h e r w o r d s , that no s u c h thing a s the world p r o l e t a r i a t e x i s t s yet. In s o m e i n s t a n c e s M a r x c a m e c l o s e to the s u b j e c t a n d even r e p e a t e d word f o r word what Quesnay had to s a y about t h e effects on working p e o p l e ' s welfare of t h e p a i r "high s a l a r i e s - h i g h p r i c e of corn" a s a g a i n s t the not a s good "low s a l a r i e s - l o w corn" (not a s good b e c a u s e w o r k e r s ' s a v i n g s , if any, would be w o r t h m o r e m a n u f a c t u r e s in the f i r s t p a i r ) ( s e e Q u e s n a y , 1888, P r e mier P r o b l ' e m e Economique) - a n d he didn't acknowledge h e r e h i s s o u r c e , a v e r y r a r e behavior in M a r x . The f a c t i s t h a t M a r x clumped the c o n c e r n about a g g r e g a t e r e p r o d u c t i o n - not of a n y l a r g e s e c t o r s , but of the nation, of c a p i t a l a s a whole - which i s p r e s e n t i n the P h y s i o c r a t s , t o g e t h e r with e a r l i e r a p p e a r a n c e s of " t r a n s v e s t i t e " c a p i t a l i s m . T h e g e n e r a l , e s s e n t i a l f o r m of a p p e a r a n c e of c a p i t a l i s m would be that of the "representative" ( " s u r r o g a t e " s o m e would s a y ) individual c a p i t a l of C a p i t a l , Volume I $ a n d then, m o r e openly, t h a t of t h e B r i t i s h c a p i t a l i s t of Volume 111, s t r u g g l i n g not f o r s u r p l u s value but f o r p r o f i t s , and n e v e r a w a r e of h i s being a p a r t of a m o r e g e n e r a l c a t e g o r y - s o c i a l capital, national c a p i t a l - whose unique a i m w a s the snatching of s u r p l u s - v a l u e ( i t s own r e p r o d u c t i o n a s a s y s t e m ) . A p a r a g r a p h in t h e G e n e r a l Introduction (1857, s e c t i o n 3 , " T h e Method of P o l i t i c a l Economy") will h e l p h e r e to u n d e r s t a n d the t u r n of thought through which M a r x w a s caught in the t r a p and m i s s e d the point ( o r r e l e g a t e d i t to t h e end, i f �you p r e f e r ) of t h e r e a l , c o n c r e t e e x i s t e n c e of national, a g g r e g a t e c a p i t a l : " T h e concept of n a t i o n a l wealth which i s i m p e r c e p t i b l y f o r m e d i n the e c o n o m i s t s of t h e XVIIth and which i n p a r t continues to be e n t e r t a i n e d by t h o s e of the XVIIIth, i s that wealth i s p r o duced s o l e l y f o r the S t a t e , but t h a t the p o w e r of t h e l a t t e r i s p r o p o r t i o n a l to t h a t wealth. It w a s a s y e t a n unconsciously h y p o c r i t i c a l way in which wealth announced itself and i t s own production a s the a i m of m o d e r n s t a t e s , c o n s i d e r i n g the l a t t e r m e r e l y a s a m e a n s f o r the production of wealth. " (Quoted f r o m M c L e l l a n d l s edition of M a r x ' s C r u n d r i s s e , p . 4 2 . My e m p h a s i s ) . T h a t i s not m e r e l y a c u t e , but one of t h o s e i n s i g h t s which m a d e of M a r x t h e g r e a t e s t of the s c h o l a r s i n P o l i t i c a l Economy, s i n c e h i s f o c u s e m b r a c e d both p o l i t i c a l economy and p o l i t i c a l e c o n o m i s t s a s well in connection to the f o r m e r (ad not p u r e l y a s c h a r a c t e r s in a m o r e o r l e s s n i c e l y c o m p o s e d s u c c e s s i o n of i d e a s a n d schools - t h a t u n r e a l c a t e g o r y called ' t h e h i s t o r y of thought'). Yet, h e r e M a r x i s bound by the v e r y s a m e l i m i t s t h a t m a d e h i s G e n e r a l Introduction i n t o a n i m p a s s e , f o r h e w a s not able t h e r e to decide upon any g e n e r a l law a s t o t h e r e l a t i o n s h i p between d i f f e r e n t l a y e r s in the s t r u c t u r e of i n q u i r y ( f r o m s i m p l e , a b s t r a c t c a t e g o r i e s to m o r e c o n c r e t e , m u l t i s i d e d , c o m p l e x o n e s ) and the t i m i n g of t h e i r r e a l e m e r g e n c e a n d development a s phenomena in h i s t o r y . X What m a t t e r s h e r e i s t h a t , in t h i s c a s e , the concept of national wealth which t h e P h y s i o c r a t s w e r e a b l e to i n t e g r a t e in t h e i r m o d e l f o r t h e c a p i t a l i s t mode of p r o duction, did not d i s a p p e a r i n the c l a s s i c a l P o l i t i c a l E c o n o m y of the XIXth, and even, I would v e n t u r e , in t h a t of t h e XXth c e n t u r y (until i t s being r e s c u e d by Keynes f r o m what h e thought the R i c a r d i a n m u d - r e m e m b e r Keynes' p u r p o s e f u l r e h a b i l i t a t i o n of M e r c a n t i l i s m ) . T o the extent that t h e concept d i s a p p e a r e d it w a s a l s o an unconscious d e c e p t i o n - f o r i n f a c t it m a t t e r e d . - The concept of national wealth l i v e d p e r h a p s a s u b o r d i n a t e life ( a s M a r x h i m s e l f would h a v e put i t ) , X S o m e s i m p l e c a t e g o r i e s b e a r an ante-deluvian e x i s t e n c e a s c a t e g o r i e s , he s a i d . But do t h e i r r e a l , h i s t o r i c a l c o u n t e r p a r t s a c q u i r e a l s o t i m e p r e c e d e n c e o v e r m o r e complex, developed s e t s of s i m p l e c a t e g o r i e s ? Ca depend, w a s h i s a n s w e r . And he s e t t l e d then f o r a s t r u c t u r a l i s t view of s o c i a l f o r m a t i o n s . �i n t e g r a t e d i n a n d by t h e p e r v a d i n g , c a t e g o r i c a l e x i s t e n c e of c a p i t a l - whose a n a l y s t s m a d e l i t t l e , s c o r n f u l even, m e n t i o n of t h e State a s s u c h . M a r x , I hold, w a s l i a b l e h e r e of t h e s a m e contempt f o r the p a s t t h a t h e unveiled s o often in political e c o n o m i s t s . He saw t h e M e r c a n t i l i s t - P h y s i o c r a t i c p e r i o d , t h a t i s , a s a s i m p l i f i e d r e p l i c a of t h e c o n t e m p o r a r y , full-fledged P o l i t i c a l E c o n o m y of t h e XIXth. The lip s e r v i c e t h a t t h e P h y s i o c r a t s payed to t h e King a n d State w a s indeed a n "unconsciously h y p o c r i t i c a l way" in which c a p i t a l i s m announced itself b e f o r e swallowing both State and King (and i t could even be shown, probably, that the new c o m m o n e r l a n d o w n e r s e m e r g i n g f r o m the r a n k s of b u r e a u c r a c y , whose i n t e r e s t s t h e P h y s i o c r a t s p e r s o n i f i e d and defended, X n e e d e d the K i n g ' s s u p p o r t to b e a t down t h e feudal l a n d o w n e r s ' r e s i s t e n c e to t h e i r a s s e r t i o n a s a n hegemonic c l a s s ) . m a t t e r the King of England - But n e i t h e r the S t a t e - n o r f o r that c e a s e d to e x i s t i n s i d e c a p i t a l i s m . R a t h e r , they a c q u i r e d a new f o r m , to which c a p i t a l i s m r e s o r t e d once a n d a g a i n - a n d i n c r e a s i n g l y s o f r o m the 1 9 3 0 ' s on, down to the p r e s e n t wage and p r i c e c o n t r o l s . The sub- ordinate level acquires again p r e - eminence. But i n t h e p r o c e s s we a r e l e f t without a t h e o r y of a g g r e g a t e c a p i t a l , without a p o l i t i c a l economy of n a t i o n - s t a t e s and of t r a d e between t h e m . XX Thus any a t t e m p t to r o o t h i s t o r i c a l l y a t h e o r y of t h e i n t e r n a t i o n a l e c o n o m y h a s t o go a long w a y back to t h e point w h e r e the s u b j e c t s of s u c h a n i n q u i r y - the n a t i o n - s t a t e s w e r e s t i l l conceptually a l i v e . T h i s i s a n e c e s s a r y s t e p if a t l e a s t one wants to avoid t h e p u r e t r a n s p o s i t i o n of the behavior of m i c r o e c o n o m i c individuals d r e s s i n g X See t h i s point convincingly s t a t e d a s f a r back a s i n 1931 by N. J. W a r e . His a p p r o a c h , though, e m p h a s i z e s too heavily the c l a s s conflict s i d e of t h e a n a l y s i s t o catch the e n t i r e significance of P h y s i o c r a c y in the d e v e l o p m e n t of P o l i t i c a l Economy. XX I s t r o n g l y f e e l t h a t t h e w e a k n e s s of the M a r x i a n t h e o r y of i m p e r i a l i s m h a s i t s o r i g i n i n t h i s v e r y f a c t . The p e t t y - b o u r g e o i s ideology of the English working c l a s s ( E n g e l s ) , i t s o p p o r t u n i s m ( L e n i n ) , w a s linked by t h o s e M a r x i s t s to i m p e r i a l i s m , but n e v e r i n a totally s a t i s f a c t o r y way. I m p e r i a l i s m h a d to be e x plained i n a l m o s t m i c r o e c o n o m i c t e r m s (through the falling r a t e of p r o f i t and t h e l i k e ) - a h o p e l e s s e n t e r p r i s e . S e e , h o w e v e r , the wonderful E n g e l s ' P r e f a c e to t h e E n g l i s h edition of Utopian a n d Scientific S o c i a l i s m . �a s n a t i o n s in which the conventional t h e o r y of t r a d e c o n s i s t s ( a s i d e f r o m the t e c h n i c a l p r o b l e m s involved). In this t r a n s p o s i t i o n a f e w i m m o b i l i t y r e s t r i c t i o n s a r e added h e r e and t h e r e j u s t t o m a k e the g a m e w o r t h t r y i n g . obviously not enough. That's a l l - and �IV. Some Conclusions on Values, P r i c e s and P r o f i t s Quesnay introduced v a r i a t i o n s of r e l a t i v e p r i c e s in t h e study of d i s e q u i l i b r i u m - consist. e c o n o m i c s in which m a i n l y t h e two P r o b l b m e s Economiques But, a s I s a i d , p r i c e s cannot b e d e r i v e d out of t h e Tableau, which i s p r e s e n t e d in m o n e y value t e r m s . N e v e r t h e l e s s , c e r t a i n conditions of t h e p r i c e and value relation- s h i p s and t h e i r effects on the r a t e of p r o f i t can be i n v e s t i g a t e d i n t h e g e n e r a l In this s e c t i o n I will d e a l with both t h i s question e q u i l i b r i u m of the Tableau. a n d the meaning of the l i m i t e d c i r c u l a t i o n of c a p i t a l i n Q u e s n a y ' s w o r l d , in the context of t h e development of P o l i t i c a l Economy. XXX The f i r s t a p p e a r a n c e of t h e production m a t r i x o r Tableau in money t e r m s , omitting the i n t e r n a l flow in t h e m a n u f a c t u r i n g (MNF) s e c t o r a s well a s " i n t e r e s t goods" in a g r i c u l t u r e , i s the following : TWQ u n i t s worth of c o r n , including w a g e s , and one unit w o r t h of MNF a r e used u p i n a g r i c u l t u r e , whose output i s worth 5 u n i t s . Two u n i t s worth of c o r n a r e u s e d up i n the M N F s e c t o r p r o d u c i n g 2 u n i t s w o r t h of MNF. Assuming in principle two d i f f e r e n t r a t e s of p r o f i t : P r i c e s d i s a p p e a r f r o m t h e s y s t e m and r 2 , given the f i g u r e s , h a s to b e z e r o s i n c e the 2nd equation i s ( 2 + 0) (1 +r2) = 2. Then a r a t e of p r o f i t i s d e t e r - m i n e d in t h e c o r n s e c t o r independently of p r i c e s , f o r t h e f i r s t equation b e c o m e s �( 2 f 1 ) ( 1 C r l ) = 5. Thus the Tableau, a s it a p p e a r s , i m p l i e s the non- p r o d u c t i v e n e s s of t h e M N F s e c t o r , fulfilling t h e a s s u m p t i o n s of the P h y s i o c r a t i c t h e o r y , with independence of any s t a t e m e n t about p r i c e s - and a l s o a d e t e r m i n a t e productiveness in agriculture. The s t r o n g e s t a s s u m p t i o n in the obtention of t h i s r e s u l t i s of c o u r s e a22 = 0, t h e a b s e n c e of a n i n t e r n a l consumption of M N F within t h e s e c t o r which p r o d u c e s them. T h e only d e t e r m i n a t i o n s w e can g a t h e r about p r i c e s a r e d e r i v e d considering t h e -1 g e n e r a l input-output r e q u i r e m e n t that Ap = P Af P f o r a t a b l e in m o n e y t e r m s , where Ap, Py a r e t h e p r o d u c t i o n m a t r i c e s i n m o n e y and p h y s i c a l t e r m s r e s p e c t i v e - l y , and P i s the p r i c e v e c t o r ( t h e f i r s t m a t r i x only being known). In this c a s e : which g i v e s , s o t h a t if we m a k e p l = 1, we get p2 = a12, which t e l l s u s t h a t the p r i c e of MNF in t e r m s of c o r n i s equal t o the c o r n r e q u i r e m e n t in p r o d u c i n g a p h y s i c a l unit of M N F ( a l s o c o n s i s t e n t with the p h y s i o c r a t i c a s s u m p t i o n s and following f r o m a 2 =~ 0 ) . the M N F T h i s m i g h t b e t a k e n a s a n e x p r e s s i o n of Q u e s n a y ' s r e a s o n s i n o m i t t i n g --+ M N F flow i n t h e Tableau : i t g r e a t l y s i m p l i f i e s t h e c o n s i s t e n c y r e q u i r e m e n t s of h i s a s s u m p t i o n s . Now, going around the question of the o m i s s i o n of s u c h a flow, l e t u s c o n s i d e r what the effects a r e of taking the MNF s e c t o r a s n o n - p r o d u c t i v e . The e x e r c i s e will b r i n g about the r e l a t i o n s h i p between Q u e s n a y ' s m o d e l and t h a t of the e a r l y Ricardo. �A s s u m i n g the p h y s i c a l p r o d u c t i o n m a t r i x known a t two c a s e s can be c o n s i d e r e d : (a) r 2 = 0 , and ( b ) r 2 # 0. In t h i s c a s e t h e 2nd equation gives d i r e c t l y p /p - 1, and then r 2/3. 1 2 1= M o r e : i f a 2 1 ~ 1is m a d e e q u a l t o z e r o (i. e . , n o input of M N F i n a g r i c u l t u r e ) we do n o t n e e d to know p r i c e s to g e t d i r e c t l y to t h e r a t e of p r o f i t i n a g r i c u l t u r e = 3 corn/Z c o r n ) . T h i s i s one p o s s i b l e i n t e r p r e t a t i o n of Q u e s n a y ' s m o d e l , (11 a s s i m i l a r to R i c a r d o ' s , but not c o m p l e t e l y equivalent, a s the following c a s e will show. The consumption of MNF's by f a r m e r s should not then b e c o n s i d e r e d a s an input, but a s the f a r m e r ' s s h a r e i n s u r p l u s value. 2c T h e conflict between t h e i m p l i c a t i o n s of such a deduction ( n a m e l y that the e x change r a t i o farm corn would only count i n d e t e r m i n i n g t h e d i s t r i b u t i o n of the s u r p l u s but n o t i n s e t t i n g the r a t e of s u r p l u s - v a l u e - s e e footnote just above) a n d the g e n e r a l a s surnptions of t h e P h y s i o c r a t i c d o c t r i n e s e e m s obvious : f i r s t l y , b e c a u s e a c a p i t a l i s t p r o f i t would a p p e a r in f a r m i n g exploitations; and secondly, b e c a u s e n be Q u e s n a y a l w a y s e m p h a s i z e d t h a t a c e r t a i n exchange r a t i o M ~ ~ / c o rwould e s s e n t i a l i n leading t o w a r d s the optimum. Again the contradiction m i g h t be d i s - p o s e d of, i n m y view, r e s o r t i n g to Q u e s n a y ' s likely confusion between t h e genetic and t h e e x i s t e n c e conditions of e q u i l i b r i u m , f o r both f a r m e r s ' p r o f i t s and t h e low exchange value of M N F ' s in t e r m s of c o r n brought about by f r e e t r a d e , would c e a s e t o be of i m p o r t a n c e once the optimum m o d e of production w a s e s t a b l i s h e d . X T h i s i n t e r p r e t a t i o n , which I f e e l i s v e r y m u c h i n a c c o r d a n c e with s o m e of Q u e s n a y ' s indications, h a s n e v e r t h e l e s s t h e inconvenience of m a k i n g r l independent of t h e exchange r a t i o between M N F 1 s a n d c o r n (which i s n o t t h e s a m e a s saying, a s a b o v e , t h a t t h e T a b l e a u d o e s n o t s t a t e what t h i s r e l a t i o n s h i p i s , n o r d o e s i t a l l o w to d e r i v e i t ) . �H e r e the p r o b l e m h a s only a c o m p l e t e solution, a s we know, i f a g e n e r a l r a t e of p r o f i t i s f o r m e d throughout t h e economy ( r l = r 2 ) . E:; P2] and r = ( 1 :;I - A ) /A - = P/(l 4 F o r then : P2] l a m b d a being t h e e i g e n value a s s o c i a t e d to the A m a t r i x . But i f a Z 1 (input of M N F ' s in c o r n p r o d u c t i o n ) i s m a d e equal to z e r o , a s we t r i e d in c a s e ( a ) , then the a g r i c u l t u r a l equation g i v e s i m m e d i a t e l y the s a m e c o r n - c o r n r a t e of p r o f i t ( = 3/2), without rZ having to be z e r o ( o r M N F 1 i n g an unproductive a c t i v i t y ) . The a s s u m p t i o n of c a p i t a l m o b i l i t y between a g r i - c u l t u r e and i n d u s t r y i n t r o d u c e s then t h i s a g r i c u l t u r a l r a t e a s the one p r e v a i l i n g a l s o i n the l a t t e r s e c t o r . T h i s i s the e a r l y R i c a r d o ' s c o r n - c o r n r a t e of p r o f i t - = 0 i s the one t h a t Malthus denounced to h i m a s 21 R i c a r d i a n r e s t r i c t i o n s m a y then be s e e n h e r e a s l e s s n a r r o w than and the r e s t r i c t i o n a implausible. those i n Q u e s n a y ' s m o d e l a s p r e s e n t e d i n c a s e ( a ) - but r a t h e r s y m m e t r i c a l to Tableau, w h e r e s i m p l y a 2 2 = 0 i n s t e a d the p r e s e n t a t i o n of the l a t t e r m o d e l i n t h e = 0, though p r i c e s have t o "behave" t h e r e , a s we s a w , and a r e n o t 21 explicitly d e t e r m i n e d . of a Now we m a y r e t u r n to Q u e s n a y ' s c a s e ( a ) and s e e that the r a t e of p r o f i t i n a g r i c u l t u r e i s i n v e r s e l y r e l a t e d to the input coefficients i n t h a t s e c t o r - a s we m i g h t expect - and a l s o t h a t if MNF's a r e c o n s i d e r e d a s input i n c o r n production ( a Z 1 # O), the way through which p r i c e s d e t e r m i n e t h e r a t e of p r o f i t c o n s i s t s of an i n v e r s e r e l a t i o n s h i p between p 2 a n d r l because if r r = 2 ( t h e P r e m i e r P r o b l k m e point), = 0 : 1- a P1 - "1 1P1 - a2 lP2 al lPl a21P2 becomes r = 22 - a l l ( a12 all( ) ) - aZ1 a21 �Then i f a ? 21 (p2 const.) r : if f a r m e r s consume m o r e M N F ' s s i m p l e r e p r o d u c t i o n i s not a s s u r e d . if a l l ' ? ( p 2 const. ) r : i f the c o r n c o s t s of c o r n production a u g m e n t , we a r e way back to t h e s m a l l s c a l e m o d e of production leaving in t h e l i m i t no s u r p l u s value. r J. 1 : i f MNF's c o n s u m e m o r e c o r n p e r unit M N F , a "profit upon alienation" should be expected, down - the profit/profit t r a d e - o f f 1 in which t h e e m e r g e n c e of an a v e r a g e r a t e of driving r p r o f i t c o n s i s t s , explained in P h y s i o c r a t i c plus Mercantilist t e r m s . i f a 1 PZT 22 r 1 : C o m e s to the s a m e - only p r o f i t on f o r e i g n trade keeps r intact. T h e s a m e e x p r e s s i o n of t h e r a t e of p r o f i t in a g r i c u l t u r e b e c o m e s s i m p l i f i e d into a c o r n - c o r n r a t e if, a s b e f o r e , a21 = 0 (i. e . , no M N F input in a g r i c u l t u r e ) and it is : 1- a r 1 = a 11 11 - n e t c o r n in a g r i c u l t u r e corn used-up in agriculture It i s a l s o c l e a r then that i n t h e s e conditions t h e r e i s no d i f f e r e n c e whatever between s u r p l u s value and p r o f i t s , n o r between t h e r a t e of p r o f i t a n d r a t e of s u r p l u s value M a r x ' s s / v r a t e being equivalent t o Q u e s n a y ' s " n e t c o r n / c o r n u s e d up" r a t i o i n a g r i c u l t u r e , and MNF production being t r e a t e d by t h e l a t t e r a s M a r x would t r e a t t h e unproductive s e r v i c e s paid f o r by the c a p i t a l i s t s ' e x p e n d i t u r e of r e v e n u e . , 't An i n t e r e s t i n g deduction can be d r a w n o u t in t h i s context (and M a r x h i n t e d i t in T h e or i e s of S u r p l u s Value, Vol. I, pp. 382-383, following the t h r e a d of an anonymous English P h y s i o c r a t , whose i n s i g h t i s d e f i n i t e l y w o r t h c o n s i d e r a t i o n - �cf ibidem). It r e f e r s to Adam S m i t h S s t h e o r y of s a v i n g s , S m i t h ' s exhortations about the c o r r e c t expenditure of c a p i t a l i s t s * revenue a r e totally s y m m e t r i c a l to Quesnay's e m p h a s i s on t h e n e c e s s i t y of r e v e n u e s flowing back t o f a r m e r s to e n s u r e simple reproduction - though S m i t h g e n e r a l i z e d ' f a r m e r s ' into ' p r o - ductive l a b o r e r s ' a n d m a d e Q u e s n a y ' s s t e r i l e m a n u f a c t u r i n g into 'unproductive people' ( p r i e s t s , w a r r i o r s , a r t i s t s a n d s o o n ) . Yet t h i s g e n e r a l i z a t i o n allowed h i m to d e a l with a c c u m u l a t i o n in t h e v e r y s a m e f r a m e w o r k , s i n c e c a p i t a l i s t s r e f r a i n i n g f r o m s u c h unproductive consumption of s e r v i c e s m e a n t that t h e i r industry. s a v i n g s could b a s e the expansion of - Thus, a n a s y e t not c o n s i d e r e d s o u r c e of i n d u s t r i a l expansion, v e r y m u c h akin t o Q u e s n a y ' s s e t of a s s u m p t i o n s , appears here. S m i t h ' s t h e o r y of s a v i n g s a s a b s t i n e n c e f r o m unproductive con- sumption to a u g m e n t productive employment a n d the s c a l e of the s y s t e m , can b e i n t e r p r e t e d then a s an outgrowth of a P h y s i o c r a t i c c o n j e c t u r e in which m a n u f a c t u r e r s would get p r o f i t s (and s a v e ) o u t of a b e l o w - s u b s i s t e n c e l e v e l of p e r s o n a l consumption. H e r e l i e s the key of the Quesnay-Smith t r a n s f o r m a t i o n , of the t r a n s f o r m a t i o n of s t e r i l e into p ro d u c t i v e c a p i t a l in i n d u s t r y - a f a m i l y kinship m u c h m o r e than an opposition between c o n t r a d i c t o r y f r a m e s of m i n d , a s i t i s usually presented. Turning to the i n c o m p l e t e extent t o which fixed c a p i t a l goods e x i s t a s c o m m o d i t i e s i n Q u e s n a y ' s m o d e l , we find t h a t in t h e P r e m i e r P r o b l b m e Economique (Quesnay, 1888, p. 496 a n d f f . ) t h i s p r o v i s o i s extended to working c a p i t a l ( s e e d s ) and t h e i m p l i c a t i o n s of such a simplifying d e v i c e show up even m o r e clearly. When t h e c i r c u l a t i o n of c o n s t a n t c a p i t a l i s a s s u m e d a s an i n t e r n a l t r a n s a c t i o n between p r o d u c e r s i n a s e c t o r , that c a p i t a l c a n be t r e a t e d a s p u r e value, o r r e c k o n e d a t v a l u e i n r e p r o d u c t i o n . Thus a n i n c r e a s e i n the exchange �value of c o r n will i n t h e s e conditions d i r e c t l y i n c r e a s e the value of the s u r p l u s p r o d u c t , n o t only f o r t h e s a m e r e a s o n which l i e s behind t h e v e r y e x i s t e n c e of t h e l a t t e r (i. e . , the f a c t t h a t m o r e c o r n i s p r o d u c e d t h a n r e s t i t u t e d to land a n d l a b o r ) but a l s o due to the f a c t that s e e d - c o r n , being c i r c u l a t e d i n t e r n a l l y , i s not affected by t h e change in p r i c e . It i s meaningful t h a t i n the P r o b l b m e Quesnay d o e s t a k e into account t h i s change i n p r i c e a s i t a f f e c t s the wage-cost of a g r i c u l t u r a l production, the d i s tinction between s e e d - c o r n and c o r n - w a g e s being m a d e in t e r m s of consumption i n n a t u r e ( s e e d s ) v e r s u s money p a y m e n t ( w a g e s ) . The i s s u e i s t h e r e f o r e one of m o r e o r l e s s g e n e r a l i z e d c i r c u l a t i o n . In Q u e s n a y ' s m o d e l w a g e - l a b o r i s but a component of a l a r g e r c l a s s , yet t h e r e a r e o c c a s i o n s , such a s t h e one above, i n which i t s commodity c h a r a c t e r i s t i c s begin to e m e r g e , a t any r a t e in c o m p a r i s o n to c a p i t a l goods, whose c i r c u l a t i o n i s a s s u m e d in m o r e r e s t r i c t i v e t e r m s . M a r x ' s Capital t r e a t s both wage-labor and c a p i t a l goods a s c o m m o d i t i e s - the s i m u l t a n e i t y being i n e s c a p a b l e on logical g r o u n d s , s i n c e w a g e - l a b o r i s b o r n o u t of t h e s e p a r a t i o n of d i r e c t p r o d u c e r s f r o m t h e i r m e a n s of production, t h e l a t t e r t h e r e f o r e b r e a k i n g l o o s e of any d i r e c t a p p r o p r i a t i o n and n e c e s s a r i l y being obtained i n exchange. c i a l commodity, But M a r x ' s i n s i s t e n c e on t h e 9 e- l a b o r - p o w e r , whose exchange f o r c a p i t a l c o n c e a l s t h e a s y m m e t r i c a l n a t u r e of t h e e n t i r e m o d e of p r o d u c t i o n , s u b t r a c t s a good d e a l of e m p h a s i s t o h i s a n a l y s i s of t h e effects of c h a n g e s i n t h e p r i c e s of c a p i t a l - g o o d s on the l e v e l and the r a t e of p r o f i t s . T h i s i s s p e c i f i c a l l y t r u e of h i s m u c h d e b a t e d n u m e r i c a l e x e r c i s e on %" t h e t r a n s f o r m a t i o n of v a l u e s into p r i c e s . T h e i m p o r t a n t point h e r e i s that, a s in Quesnay, any t r a n s a c t i o n o c c u r r i n g "among fellow c a p i t a l i s t s " w a s thought a s r e d u c i b l e to the s t a t u s of a n i n v a r i a n t X S e e i n this s e n s e A. Shaikh, 1973, and a l s o Shane Mage, 1963. �i n r e l a t i o n to p r i c e changes. X C a p i t a l i s t s , a s it w e r e , would c h a r g e e a c h o t h e r value of t h e i r m u t u a l t r a n s a c t i o n s , whatever the p r i c e . the - In the c a s e of Quesnay t h e a s s u m p t i o n s e e m s a t any r a t e m o r e sound, s i n c e capital goods a r e m o r e e a s i l y s e e n a s produced not only within the c l a s s but within t h e f a r m ( o r t h e workshop) i t s e l f . To what extent t h i s a s s u m p t i o n p e r v a d e s , l e s s l e g i t i - m a t e l y p e r h a p s , f u r t h e r developments of P o l i t i c a l E c o n o m y (including M a r x ' s t r a n s f o r m a t i o n e x e r c i s e ) i s a long question, whose a n s w e r would supply i n f o r m a t i o n to d e c i d e upon the r e l a t i o n of P o l i t i c a l E c o n o m y to c a p i t a l i s m i n i t s s u c c e s s i v e s t a g e s of evolution. In a way t h e path of economic development, a s r e p r e s e n t e d by t h e changing s y s t e m s of economic thought, i s closely r e l a t e d t o t h i s e v e r l a r g e r a w a r e n e s s of the c o s t s being g e n e r a t e d i n the p r o c e s s of s o c i a l production, i n c r e a s i n g a w a r e n e s s which r u n s p a r a l l e l to the extension of the concept of value - while unit values tend to f a l l , a c c o r d i n g t o the i n c r e a s e in productivity defined i n a r i g i d , unchanged f r a m e w o r k , w h e r e and if t h i s conceptual extension i s n o t p e r formed. T h u s the point of view adopted by Quesnay in t r e a t i n g f e e d g r a i n ( o r t h e fodder of h o r s e s , a s the c a s e m a y b e - s e e Meek, iq 6Q ) a s a f r e e gift not of n a t u r e but of the p r o c e s s of r e l a t i o n with n a t u r e i n which s o c i a l production cons i s t s , i s t h e s a m e t r a d i t i o n a l l y adopted i n m o d e r n e c o n o m i c s , and indeed in s o c i a l l i f e , in dealing with r e s o u r c e s whose conditions of reproduction a r e t a k e n f o r g r a n t e d , such a s a i r , w a t e r , open s p a c e s , e t c . . to t a k e c a r e of t h e m s e l v e s , s o t o speak. They a r e a s s u m e d But the i n c r e a s i n g s c o p e of the m e r - c a n t i l i z a t i o n of s o c i a l l i f e of which M a r x talked i n t h e f i r s t p a r a g r a p h of Capital h a s by n o m e a n s c o m e to a c l o s e . X At the s a m e t i m e , h o w e v e r , t h a t c o n s t a n t The question of the l e g i t i m a c y of one o r a n o t h e r i n v a r i a n c e choice in d e r i v i n g p r i c e s o u t of v a l u e s i s brought about in J . M . V e g a r a (1973) and D. L a i b m a n (1973) T h e f o r m e r s t a t e s t h e f o r m a l conditions of t h i s l e g i t i m a c y ; the l a t t e r a r g u e s that the point of view of t h e labouring c l a s s e s can be taken a s the b a s i s f o r a r a t i o n a l choice. I hold t h a t Q u e s n a y ' s m o d e l p r o v i d e s a good e x a m p l e of this type of c h o i c e s i n c e i t m a k e s c l e a r that a s p e c i f i c accounting s y s t e m follows logically f r o m the adoption of t h e point of view of c o m m o n e r l a n d o w n e r s o r f a r m e r - capitalists. �c a p i t a l i s bound to c o v e r a n i n c r e a s i n g collection of i t e m s newly a c q u i r i n g e x change value, the c a p i t a l i s t m o d e of production h a s evolved i n t h e s e n s e of socializing and d r a w i n g out of the m a r k e t - p l a c e a p a r t of t h e r e q u i r e m e n t s e i t h e r of t h i s e n l a r g e d concept of reproduction o r ( m o r e often, I would s u g g e s t ) t h o s e of the r e p r o d u c t i o n of the l a b o r i n g c l a s s e s t h e m s e l v e s - education, h e a l t h , welf a r e s y s t e m s - a s well in the s t r i c t p h y s i c a l a s i n t h e s o c i a l and ideological s e n s e ( p r e d i s p o s i t i o n to engage in productive a c t i v i t y , m a i n t e n a n c e of a c e r t a i n d e g r e e of s t r a t a differentiation and s o o n ) . X I would l i k e t o c l o s e t h i s a r t i c l e with the suggestion that a r e a s o n f o r t h e a c t u a l s e q u e n c e of a n a l y s i s i n M a r x ' s Capital can be found in t e r m s of the a u t h o r ' s r e l a t i o n both to the P h y s i o c r a t i c school and S m i t h ' s and R i c a r d o ' s E n g l i s h P o l i t i c a l Economy. Quesnay, M a r x r e p e a t e d l y pointed out, w a s m u c h m o r e conscious than the l a t t e r ( e s p e c i a l l y S m i t h ) of the r e q u i r e m e n t s of r e p r o d u c t i o n , n a m e l y t h a t constant c a p i t a l h a d t o be m a d e a p a r t of the value account. Wages, p r o f i t s a n d r e n t s constitute value added - a s Smith w r o t e - but they do not e x h a u s t the e n t i r e t y of the value p r o d u c e d in a unit p e r i o d . R i c a r d o d e v i s e d a s i m p l i f i e d solu- t i o n of the p r o b l e m when h e s u c c e s s i v e l y s t a t e d t h e conditions of production upon which t h e c o n s t a n t c a p i t a l c o n s t r a i n t would not g r e a t l y affect t h e f o r m a t i o n of values. Yet M a r x w a s n o t s a t i s f i e d with a t h e o r y that would adequately d e a l with d i s t r i b u t i o n , i. e . , a t h e o r y of p r o f i t s ( a g a i n s t what i s now and again w r i t t e n ) , but extended h i s i n q u i r y into the varying conditions of r e p r o d u c t i o n , i n t h e s e n s e of a t h e o r y of growth. X The l a t t e r c a n only b e t r e a t e d a s an e m e r g i n g , n o t totally d i s t i n c t phenomenon, e s p e c i a l l y f e l t i n t h e p e a k p h a s e s of t h e c y c l e i n the m o s t advanced c o u n t r i e s w h e r e r a d i c a l a n a l y s e s devote a good d e a l of a t t e n t i o n to i t , while a t t h e s a m e t i m e conventional g e n e r a l equilibrium m o d e l s begin to w o r r y about the n e c e s s i t y of devising the conditions upon which individuals c a n be thought a s effectively r e s p o n s i v e to the e x i s t i n g s t i m u l a e to e n t e r the m a r k e t ( t h e o r i e s of o r g a n i z a t i o n ) . On a world b a s i s t h e s o c i a l and l o g i c a l r e q u i r e m e n t s of r e p r o d u c t i o n a r e h a r d l y meaningful - p r e s s i n g n e e d s playing s t i l l t h e i r old r o l e a s effective i n d u c t o r s . On t h i s b a s i s the s c h e m e ought to b e applied to t h e r e l a t i o n s h i p s a m o n g n a t i o n - s t a t e s , the leading, i m p e r i a l i s t p o w e r s t r y i n g t o induce by a l l m e a n s s m a l l e r , p o o r e r c o u n t r i e s to e n t e r the world m a r k e t . �H e r e the P h y s i o c r a t i c m o d e l c o m e s into the p i c t u r e . F o r the Tableau w a s con- s t r u c t e d on a s s u m p t i o n s such t h a t both the e x t r a c t i o n of s u r p l u s value and t h e r e p r o d u c t i o n of i t s conditions through a definite s e t of c i r c u l a t i o n p a r a m e t e r s ( p r i c e r e l a t i o n s h i p s and b e h a v i o r a l p a t t e r n s ) could be shown simultaneously. Marx a t t e m p t e d the s a m e type of e f f o r t f o r a m o r e c o m p l i c a t e d world w h e r e s u r p l u s value e m e r g e d both in a g r i c u l t u r e and i n d u s t r y , w h e r e i t s o r i g i n was i m p u t e d n o t to a single s e c t o r but to a commodity being u s e d in both, l a b o r - p o w e r . The difficulties of t h e e n t e r p r i s e (which w e r e i n e s c a p a b l e a f t e r t h e English p o l i t i c a l e c o n o m i s t s h a d l a i d the g e n e r a l i z a t i o n of t h e t h e o r y of value t o a l l l a b o r ) f o r c e d M a r x to adopt a m e t h o d consisting of s u c c e s s i v e a p p r o x i m a t i o n s . Thus the s c h e m e s of r e p r o d u c t i o n of Volume I1 of Capital a r e d e r i v e d in the s a m e f r a m e work of t h e p r o d u c t i o n of s u r p l u s - v a l u e (Volume I), f o r m a l l y in p a r a l l e l with t h e s t r u c t u r e of t h e Tableau. Yet i f the T a b l e a u w a s c o n s i s t e n t i n doing s o without having t o g e t into the m o d i f i c a t i o n of v a l u e s induced by the " r e d i s t r i b u t i o n of s u r p l u s - v a l u e " among a l l s e c t o r s - s i n c e only o n e s e c t o r produced i t and only one, d i f f e r e n t , s e c t o r a p p r o p r i a t e d it - M a r x could only adopt t h i s s h o r t c u t a s a n a p p r o x i m a t i o n . The " r e d i s t r i b u t i o n of s u r p l u s - v a l u e " i n a w o r l d of equal r a t e s of p r o f i t i n a l l s e c t o r s ended up with a n a l t o g e t h e r different d i m e n s i o n a l i t y of the v e r y c a t e g o r y of s u r p l u s - v a l u e , which complicated the p r o b l e m beyond the r e a c h of the m a t h e m a t i c a l tools a v a i l a b l e to M a r x . X T h i s i s one a s p e c t of t h e r e a s o n s behind the f a c t t h a t h e t r e a t e d reproduction i n a value s y s t e m of a c c o u n t s and n o t i n a p r i c e s y s t e m , that i s , b e f o r e t h e t r a n s f o r m a t i o n of v a l u e s into p r i c e s and n o t a f t e r w a r d s : in o t h e r w o r d s , the r e a s o n why h e r e v e r t e d t o t h e Tableau-type of duality ( v a l u e s - q u a n t i t i e s and n o t p r i c e s quantities). X XX XX See J . M. V e g a r a (1973). The f a c t t h a t t h e r e p r o d u c t i o n e x e r c i s e s i n Volume I1 of Capital a r e a r r a n g e d i n such a way t h a t t h e c o m p o s i t i o n s of c a p i t a l a r e u n i f o r m throughout between s e c t o r s i s r a t h e r confusing, s i n c e it g i v e s the m o d e l a p r e t e n s i o n of v i r t u a l i t y i n p r i c e t e r m s ( a s a s p e c i a l c a s e i n which the c i t e d u n i f o r m i t y i s picked t o e n s u r e the p r o p o r t i o n a l i t y between p r i c e s a n d v a l u e s ) . �M o r i s h i m a (1973, p. 11) h a s i n a s e n s e s a i d t h e s a m e when i n s i s t i n g on the view that t h e l a b o r t h e o r y of v a l u e s e r v e s in M a r x t h e p u r p o s e of supplying a b a s i s f o r a g g r e g a t i o n ( b e s i d e s t h e undenied one of b a s i n g a t h e o r y of exploita- CM t i o n ) , that i s to say,.'it s u p p l i e s a s t a n d a r d of a g g r e g a t i o n which i s i n s e n s i t i v e t o day-to-day changes ( a s m a r k e t p r i c e s would n o t be) o r even m e d i u m r a n g e v a r i a t i o n s ( a s t h o s e l e f t out of scope i n the K e y n e s i a n a n a l y s i s i n t e r m s of wage-units). Yet, if the m a t h e m a t i c a l tools which would allow t o c o n s t r u c t a t h e o r y of growth i n t e r m s of p r i c e s of production w e r e beyond M a r x ' s r e a c h , the conceptual i m p l i c a t i o n s of dropping a l l l i n k s with any value s y s t e m in building a t h e o r y of t h i s kind s e e m to be beyond M o r i s h i m a ' s c o m p r e h e n s i o n - indeed, a m o r e s e r i o u s symptom. The p r e t e n t i o n to t e l l anything about r e p r o d u c t i o n and growth i n a Von Neumannian w o r l d of unchanged techniques a m o u n t s , i n T. V i e t o r i s z ' w o r d s , to t a k e t h e " p u r e logic of quantitative accumulation" a s an adequate m o d e l for social enlarged reproduction. It should begin to be c l e a r by now t h a t t h e r e i s no u n i v e r s a l , p u r e t h e o r y of reproduction a n d growth, a n d that t h e standpoint of the c l a s s e s actually involved in t h i s p r o c e s s h a s t o be m a d e (explicitly o r not) t h e o b j e c t of a choice i f t h i s t h e o r y i s to m a k e s e n s e a t a l l . (Here 'classes' should s t a n d m o r e i n t h e l o g i c a l than i n the s t r i c t l y s o c i o l o g i c a l s e n s e , t h u s applying to nations, f o r i n s t a n c e , a s well a s t o d i v i s i o n s of t h e nation i n t h e f o r m of s o c i a l c l a s s e s ) . Q u e s n a y ' s m o d e l i s u s e f u l then h e r e a t l e a s t i n two r e s p e c t s : one, t h a t i t shows how the reduction of t h e i n t e r e s t s of s o c i e t y to t h o s e of an e m e r g i n g c l a s s e n dowed with s o m e c l a i m to u n i v e r s a l i t y i s a s i n e - q u a - n o n condition of a m e a n i n g f u l t h e o r y of t h i s s o c i e t y ' s development. Two, t h a t t h e r e f o r e only a value t h e o r y c a n p r o v i d e t h e u l t i m a t e b a s i s f o r such an i n q u i r y , m e a n i n g by value t h e o r y one r o o t e d on the s t a b l e " v a l u e s " of a p a r t i c u l a r c l a s s - a s long a s c l a s s e s continue t o e x i s t and f a c e e a c h o t h e r i n h i s t o r i c a l l y s p e c i f i c s o c i a l f o r m a t i o n s and i n t e r national s t r u c t u r e s . �All s o c i a l - s c i e n t i f i c i n q u i r y begins then with a n a s s u m e d l y d i s t a s t e f u l choice of v a l u e - s t a n d a r d s . How could i t b e not s o , given t h a t P o l i t i c a l Economy i s the one s c i e n c e w h e r e s u b j e c t a n d o b j e c t coincide to a l a r g e r e x t e n t ? �BIBLIOGRAPHY Beer, G.. E n g e l s , F. An I n q u i r y into P h y s i o c r a c y . . Anti-Diihring. 1939 (1966). M o s c o w , 1959. F o l e y , V. . "An O r i g i n of t h e T a b l e a u E c o n o m i q u e " . P o l i t i c a l E c o n o m y . Vol. 5 , nl! 1 , 1973. Higgs, H . . The Physiocrats. K u c z y n s k i , M. a n d M e e k , R . . H i s t o r y of New Y o r k , 1968. Quesnay's Tableau Economique. 1972 L a i b m a n , D. . " V a l u e s a n d P r i c e s of P r o d u c t i o n : T h e P o l i t i c a l E c o n o m y of t h e T r a n s f o r m a t i o n P r o b l e m . " B r o o k l y n C o l l e g e , chool for Social R e s e a r c h . C i t y U n i v e r s i t y of New ~ o r k / ~ eSw 1973. L u n d b e r g , I. C . . T u r g o t ' s Unknown T r a n s l a t o r ( T h e R e f l e x i o n s a n d A d a m S m i t h ) . T h e H a g u e , 1964. D i s s e r t a t i o n a t t h e N e w S c h o o l f o r S o c i a l R e s e a r c h , 1956. M a g e , S . . T h e L a w of t h e F a l l i n g T e n d e n c y of t h e R a t e of P r o f i t P h . D. D i s s e r t a t i o n . C o l u m b i a , 1963. Marx, K . . T h e o r i e s of S u r p l u s V a l u e . Marx, K . . 1857. G e n e r a l I n t r o d u c t i o n to t h e C r i t i q u e of P o l i t i c a l E c o n o m y . Meek, R . . M o s c o w , 1969 T h e E c o n o m i c s of P h y s i o c r a c y . Morishima, M . . 1973. 1963, M a r x ' s E c o n o m i c s (A Dual T h e o r y of V a l u e a n d G r o w t h ) . P h i l i p s , A. . " T h e T a b l e a u E c o n o m i q u e as a S i m p l e L e o n t i e f f Model" Q u a r t e r l y J o u r n a l of E c o n o m i c s . 1955. Quesnay, F . . Oeuvres Economiques et Philosophiques e d i t o r . 1888. ( N e w Y o r k , 1969). . Auguste Oneken, �. Shaikh, A. "The S o - C a l l e d ' T r a n s f o r m a t i o n P r o b l e m ' : M a r x Vindicated". New School f o r Social R e s e a r c h . A p r i l , 1973. The W o r k s and C o r r e s p o n d e n c e of S r a f f a , P. . "Introduction" to David R i c a r d o . Volume I. 1970. T s u r u , S . . "On Reproduction S c h e m e s " . Appendix to P. Sweezy, - 1964. T h e T h e o r y of C a p i t a l i s t Development. V e g a r a , J . M. . "On Das Kapital and the T r a n s f o r m a t i o n P r o b l e m " . 1973. To be published i n J a h r b u c h d e r W i r t s c h a f t O s t E u r o p a s . W a r e , N. J . . "The P h y s i o c r a t s : A Study i n E c o n o m i c Rationalization". A m e r i c a n Economic R e v i e w . D e c e m b e r , 1931. Woog, H . . The Tableau Economique de F r a n ~ o i sQuesnay (An E s s a y i n t h e Explanation of i t s M e c h a n i s m and a C r i t i c a l Review of M a r x , Bilimovic a n d G c k e n ) . B e r n , 1950. - � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource 01.01.02. Activitat acadèmica Description An account of the resource Recull la documentació relacionada amb l'activitat acadèmica de Pasqual Maragall: - Escola primària: Escoles Virtèlia (1945-1957). - Llicenciatura en Dret: Facultat de Dret de la Universitat de Barcelona (1957-1964). - Llicenciatura en Econòmiques: Facultat d'Econòmiques de la Universitat de Barcelona (1958-1965). - Pràctiques de Dret Europeu (1963): estada a Estrasburg (França) per realitzar unes pràctiques de Dret Europeu a la Facultat Internacional de Dret Comparat. - Pràctiques a Roma (1964): beca per estudiar planificació regional a la SVIMEZ (Associazione per lo SVIluppo dell'industria nel MEZzogiorno). - Pràctiques amb Delors a París (gener-juny 1966): beca del Govern francès per l’estudi de planificació regional. Realitza unes pràctiques com a economista a l'Association pour l'organisation des STages En France (ASTEF) on obté el Diploma de planificació sectorial i regional. Les pràctiques les fa al Comissariat del Vè Pla amb el professor Jacques Delors. - Postgrau a la New School for Social Research, New York, amb beca Fulbright (setembre 1971-setembre 1973): Master of Arts en economia, especialitzat en economia internacional i economia urbana. - Doctorat (02/03/1979): en Ciències Econòmiques a la UAB. La tesi doctoral Els preus del sòl urbà. El cas de Barcelona (1948-1978), la va dirigir el catedràtic Josep Maria Vegara Carrió i va obtenir una valoració "Summa cum laude". Type The nature or genre of the resource Sèrie Date A point or period of time associated with an event in the lifecycle of the resource 1945-1979 No tenen tipus Tipo temporal para mapear las fichas sin tipo a la base resource template de Omeka S Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Identifier An unambiguous reference to the resource within a given context 1240 Title A name given to the resource Quesnay and beyond: A reflexion on the Origin of the Classical Theory of Value, Capital and Trade Description An account of the resource 54 p. Format The file format, physical medium, or dimensions of the resource Textual Date A point or period of time associated with an event in the lifecycle of the resource 1973 Subject The topic of the resource Economia Language A language of the resource Anglès Type The nature or genre of the resource Article Abstract A summary of the resource. Treball de recerca presentat a la New School for Social Research. Creator An entity primarily responsible for making the resource Maragall, Pasqual, 1941- EAD Archive The Encoded Archival Description is a common standard used to describe collections of small pieces and to create hierarchical and structured finding aids. Level The hierarchical level of the materials being described by the element (may be other level too). Document Arrangement Information on how the described materials have been subdivided into smaller units. UI 792 Articles