Robert Fulton: Savant of Steamboats and Submarines (Titans of Fortune)

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Chapter: 5: On Value. Let property circulate and everything will work out for the best. He also uses the expression to recommend the deregulation of specific areas of activity and we will indicate it when he does so.

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Molinari also suggests that he would like to see all these professions be run by entrepreneurs rather as licencees of the state. This is discussed in more detail below. Duvergier Paris: A.

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Guyot et scribe, , pp. Each in their own way wanted to replace the traditional focus on "objective" amounts of a quantity such as labour which was supposedly "embedded" in the object being exchanged, with a radically new focus on the "subjective" assessment or evaluation of the value of an object by each individual participating in the exchange.

Bastiat turned to the idea of the mutual exchange of "services" ; Molinari turned to the idea of a subjectively determined and changing hierarchy of individual needs and the gradual reduction of scarcity caused by technological and economic progress.

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Note here that Molinari says that value is something which a thing "has" intrinsically or which is "given" to it by observers. Value is composed of two quite distinct elements - utility and scarcity. This was one of Say's most important contributions to economic theory in an attempt to move beyond the limitations of Smithian orthodoxy which emphasized the production and exchange of physical goods which were durable and embodied quantities of labour which gave them value.

Say argued that agricultural and manufactured goods physical or "material" goods were not the only source of wealth and that the activities which produced them were not the only "productive" economic activities that people could engage in. Furthermore, Say argued that "non-material" goods services like education, creative writing, and scientific inventions also created wealth and satisfied the needs of consumers and that the economic activities which produced them were just as productive as the production of material goods.

Politically, Bossuet was a defender of the theory of the divine right of kings. He was a noted orator and writer whose sermons and orations were widely studied as models of French style.

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His Provincial Letters was a controversial work which attacked the casuistry of the Jesuit school. He was a brilliant playwright who made a name for himself with witty comedies which explored the foibles of the French bourgeoisie. He was well known to the Economists as Bastiat refers to his plays repeatedly in the Economic Sophisms. He concludes optimistically that "it is therefore hoped that, although it will no doubt displease M.

Louis Blanc and his school, literary and artistic property will sooner or later be fully recognized and guaranteed within its natural limits" p. This right was lost if an author granted the copyright to a publisher. The author then only had copyright until his death, after which the book entered the public domain. During the Revolution copyright was protected under the law and it could be transferred without restriction but it was limited in duration.

These laws remained in effect up until the midth century, with only a slight modification with the law of 3 August Suivi d'un grand hombre de documents et d'un Appendice contenant les lois de tous les pays sur les droits de l'auteur, aver notice historique Paris: Guillaumin, , 2 vols.

In his Fables he turned what appeared to be simple children's tales about animals into witty and insightful stories about the human condition. It was a commonly quoted phrase. His best known work is Meditations on First Philosophy Adam Smith published the Wealth of Nations in He dealt with many economic matters in his unpublished Lectures on Jurisprudence which were given between and His book Theory of Moral Sentiments which addresses many related themes appeared in Supposing he spent 5 years researching the book, one could at best say that Smith "pondered the economic problems of society" for 25 years.

Of this, fr. A better explanation is given in his article on "Literary Property" in DEP where he makes the following distinction between restrictions on literary property which take place through time and those that take place through geographical space. Time limits placed by legislation on the length of copyright ownership vary from country to country so that countries with longer periods of exclusive authorial rights like England 42 years plus 7 and Prussia life plus 30 years are at an advantage compared to countries with a more limited period like France life plus 20 and Belgium French law applied after Copyright is also limited across geographical space when a state allows counterfeiting within its borders of books which originate in other countries.

Molinari denounced this as "international communism" which was only slowly being reduced as states like Prussia and England began to introduce reciprocal recognition of international copyright. He took on a number of high profile trials during the July Monarchy often in defense of liberal causes. When he is referring to industrial property we will use the term "designer" or "craftsman" instead of "artist". Drouyn de Lhoys was tabled. Before the official report was tabled the government seemed to favor a free market solution whereby producers and merchants would use a voluntary system for establishing and enforcing trade marks "la marque facultative" but the official Report came down in favor of a government funded and policed system of "la marque obligatoire" compulsory trade marks and brands.

Renouard thought this was a serious setback for the freedom of consumers to decide for themselves and would prove to be a heavy burden on taxpayers. IV "Marques de fabrique et de commerce," pp. The June Days riots were suppressed by , troops with 1, dead and 15, arrests, of which 4, were sentenced to transportation. The demonstrations of June were on a smaller scale with 6, protesters and National Guardsmen. There were no deaths but 67 were tried of whom 36 were sentenced to transportation.

Both events led to the closure of the political clubs, the suppression of opposition newspapers, and the introduction of periods of military law. He describes Molinari and Jobard as "zealous partisans" of this view which is nothing but "puerile eccentricities". Coquelin argues that inventions are not a right of property but rather "a right of priority" which the state recognized but only for a limited period of time. Under the old regime inventors had no rights under French law until the Revolution introduced the Law of 7 January sponsored by de Bouffiers who took a very favorable view of the property rights of inventors.

The Law of 5 July defined what could and could be protected by patents.

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The former were new industrial products and new methods of producing industrial products. What were not protected by government patent were pharmaceutical products and financial and credit instruments, in order to prevent the practice of "charlatanism" in these industries.

Paris: Chamerot, , vol. He notes that specializing in one task, such as ploughing, concentrates the mind and encourages the invention of new devices or improvements in existing ones. Jobard, Director of the Brusselles Museum.

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In Paris, a distinguished novelist, Mr. Hippolyte Castille, founded a journal in in order to defend the cause which is of interest to so many workers.

Robert Fulton: Savant of Steamboats and Submarines (Titans of Fortune)

Unfortunately, Mr. Castille's enterprise did not achieve the success that it so well deserved. After a few months the journal Travail intellectuel Intellectual Work or Labor ceased appearing.

I have limited myself here to summarizing several articles I published in this journal edited by one of the most dedicated defenders of intellectual property. He founded in a short-lived journal devoted to the recognition of intellectual property, Le travail intellectuel , for which Molinari wrote a number of articles.

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What a pursuit! Jules Verne was born on February 8, , in Nantes, France, a prosperous commercial port still thriving at the tail end of the French maritime boom and the African slave trade. Sometimes I cast my nets in tow, and I draw them in ready to break. The Happy Prisoner by Monica Dickens. One iron plate was moved, a man appeared, uttered an odd cry, and disappeared immediately. After shutting my eyes involuntarily, I opened them and saw that this luminous agent came from a half-globe, unpolished, placed in the roof of the cabin.

He was a prolific inventor with 75 patents and took up the cause of defending the property rights of inventors. He wrote dozens of pamphlets expressing his views in a very idiosyncratic manner. Molinari was sympathetic to his position in favour of absolute property rights in literary and artistic material but objected to his critique of economic liberty in the broader sense. This was followed soon afterwards in with a speculative boom in railway shares. The main station on the rue Saint-Lazare was also being rebuilt and expanded at this time. In a lengthy article Michel Chevalier captures the excitement which was stimulated by the construction of railways, both concerning the new technology and the possibilities of drastic reductions in the cost of transport.

Buried among the mass of technical information are a number of matters of concern to the economists: that the cost of building the network was increased by tariffs on imported iron rails; that the lowered costs of shipping goods across international borders strengthened the peaceful economic bonds between people, but also made it easier for States to move troops to the border; that railways provided much needed competition with the canal system, which some considered to be a "natural monopoly" ; that attempts by the government to impose lower rates on railways was "a very serious attack on the spirit of association The government would build and own the right of way, bridges, tunnels and railway stations, while private industry would lay the tracks, and build and maintain the rolling stock and the lines.

The government would also set rates and regulate safety. The first railway concessions were issued by the government in triggering a wave of speculation and attempts to secure concessions. It is short for "aristocrats" and has a negative connotation. It is similar to the eminent domain laws in the United States. Legoyt on "Expropriation pour cause d'utility publique," DEP , vol.

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In this sentence he continues to use the language of rape to describe other kinds of violations of private property. Thus, here we have translated "ravir" ravish and "viol" rape as "rob" and "serious crime". The other objection they had was to his idea of the private provision of security which is discussed in S It is most commonly associated with the jurist Ulpian who contributed to Justinian's codification of Roman law c. Blondeau Paris: Videcoq, , 2 vols. See vol. Bastiat developed these ideas at length in his unfinished magnum opus Economic Harmonies He notes the concurrent emergence of the term "harmony" in France and the U.

Carey accused Bastiat of plagiarising the idea but this charge was later withdrawn. When left to operate freely the supply of and demand for goods and services would tend or gravitate towards a point of equilibrium at a given price. This tendency towards equilibrium could be disrupted or disturbed either by natural causes such as crop failures or floods or by artificial causes such as tariffs, taxes, subsidies, and government regulation.

Works (10,733)

See A. The Physiocrat Turgot argued in the s that first use and occupancy by an individual bestowed a property right to the resource which was owned by that individual. Liberal revolutionaries like Mirabeau and post-revolutionary liberals like Charles Comte believed that ownership of mineral resources resided with the Nation which could sell or license them at will.