Investing · Western classics

Frédéric Bastiat:Economic Sophisms, Excerpt 83

Frédéric Bastiat《Economic Sophisms》· Economic Sophisms · Investing

The new branch of industry at length reaches its normal state; in other words, the remuneration of printers ceases to be exceptionally high, and comes, like that of the copyist, to be _regulated by the ordinary rate of earnings_. Here we have production, as such, brought back to the point from which it started. And yet the invention is not the less an acquisition; the saving of time, of labour, of effort to produce a given result, that is, to produce a determinate number of copies, is not the less realized. But how does it show itself? In the cheapness of books. And to whose profit? To the profit of the consumer, of society, of the human race. The printers, who have thenceforth no exceptional merit, no longer receive exceptional remuneration. As men, as consumers, they undoubtedly participate in the advantages which the invention has conferred upon the community. But that is all. As printers, as producers, they have returned to the ordinary condition of the other producers of the country. Society pays them for their labour, and not for the utility of the invention. The latter has become the common and gratuitous heritage of mankind at large.

Source: https://www.gutenberg.org/ebooks/44145
Locator:Excerpt 83 · Verified:2026-10-19 · Verification:Short excerpt

Today's question

Does this passage change one judgment about money or risk today?

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