[Sophisms of the Protectionists by Frederic Bastiat]@TWC D-Link bookSophisms of the Protectionists PART IV 66/67
This is all very well; but the more they succeed, the more do they promote the abundance of capital, and, as a necessary consequence, the reduction of interest? Now, who is it that profits by the reduction of interest? Is it not the borrower first, and finally, the consumers of the things which the capitals contribute to produce? It is, therefore, certain that the final result of the efforts of each class, is the common good of all. You are told that capital tyrannizes over labor.
I do not deny that each one endeavors to draw the greatest possible advantage from his situation; but, in this sense, he realizes only that which is possible. Now, it is never more possible for capitals to tyrannize over labor, than when they are scarce; for then it is they who make the law--it is they who regulate the rate of sale.
Never is this tyranny more impossible to them, than when they are abundant; for, in that case, it is labor which has the command. Away, then, with the jealousies of classes, ill-will, unfounded hatreds, unjust suspicions.
These depraved passions injure those who nourish them in their hearts.
This is no declamatory morality; it is a chain of causes and effects, which is capable of being rigorously, mathematically demonstrated.
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