portion as he sells his productions at a high
price_. The price of his productions is high in proportion to their
scarcity. It is plain then, that, as far as regards him at least,
scarcity enriches him. Applying successively this mode of reasoning to
each class of laborers individually, the _scarcity theory_ is deduced
from it. To put this theory into practice, and in order to favor each
class of labor, an artificial scarcity is forced in every kind of
production, by prohibition, restriction, suppression of machinery, and
other analogous measures.

In the same manner it is observed that when an article is abundant it
brings a small price. The gains of the producer are, of course, less. If
this is the case with all produce, all producers are then poor.
Abundance then ruins society. And as any strong conviction will always
seek to force itself into practice, we see, in many countries, the laws
aiming to prevent abundance.

This sophism, stated in a general form, would produce but a slight
impression. But when applied to any particular order of facts, to any
particular article of industry, to any one class of labor, it is
extremely specious, because it is a syllogism which is not _false_, but
_incomplete_. And what is true in a syllogism always necessarily
presents itself to the mind, while the _incomplete_, which is a negative
quality, an unknown value, is easily forgotten in the calculation.

Man produces in order to consume. He is at once producer and consumer.
The argument given above, considers him only under the first point of
view. Let us look at him in the second character and the conclusion will
be different. We may say,

The consumer is rich in proportion as he _buys_ at a low price. He buys
at a low price in proportion to the abundance of the article in demand;
abundance then enriches him. This reasoning extended to all consumers
must lead to the _theory of abundance_!

It is the imperfectly understood notion of exchange of produce which
leads to these fallacies. If we consult our individual interest, we
perceive immediately that it is double. As _sellers_ we are interested
in high prices, consequently in scarcity. As _buyers_ our advantage is
in cheapness, or what is the same thing, abundance. It is impossible
then to found a proper system of reasoning upon either the one or the
other of these separate interests before determining which of the two
coincides and identifies itself with the general and perman