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Essays on Political Economy by Frédéric Bastiat
page 22 of 212 (10%)


A very long time ago there lived, in a poor village, a joiner, who was a
philosopher, as all my heroes are in their way. James worked from
morning till night with his two strong arms, but his brain was not idle
for all that. He was fond of reviewing his actions, their causes, and
their effects. He sometimes said to himself, "With my hatchet, my saw,
and my hammer, I can make only coarse furniture, and can only get the
pay for such. If I only had a _plane_, I should please my customers
more, and they would pay me more. It is quite just; I can only expect
services proportioned to those which I render myself. Yes! I am
resolved, I will make myself a _plane_."

However, just as he was setting to work, James reflected further:--"I
work for my customers 300 days in the year. If I give ten to making my
plane, supposing it lasts me a year, only 290 days will remain for me to
make my furniture. Now, in order that I be not the loser in this matter,
I must gain henceforth, with the help of the plane, as much in 290 days,
as I now do in 300. I must even gain more; for unless I do so, it would
not be worth my while to venture upon any innovations." James began to
calculate. He satisfied himself that he should sell his finished
furniture at a price which would amply compensate for the ten days
devoted to the plane; and when no doubt remained on this point, he set
to work. I beg the reader to remark, that the power which exists in the
tool to increase the productiveness of labour, is the basis of the
solution which follows.

At the end of ten days, James had in his possession an admirable plane,
which he valued all the more for having made it himself. He danced for
joy,--for, like the girl with her basket of eggs, he reckoned all the
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