[Sophisms of the Protectionists by Frederic Bastiat]@TWC D-Link book
Sophisms of the Protectionists

PART IV
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Before the discovery of the precious metals, there were capitalists in the world; and I venture to say that at that time, as now, everybody was a capitalist, to a certain extent.
What is capital, then?
It is composed of three things: 1st.

Of the materials upon which men operate, when these materials have already a value communicated by some human effort, which has bestowed upon them the principle of remuneration--wool, flax, leather, silk, wood, etc.
2nd.

Instruments which are used for working--tools, machines, ships, carriages, etc.
3rd.

Provisions which are consumed during labor--victuals, stuffs, houses, etc.
Without these things, the labor of man would be unproductive, and almost void; yet these very things have required much work, especially at first.

This is the reason that so much value has been attached to the possession of them, and also that it is perfectly lawful to exchange and to sell them, to make a profit of them if used, to gain remuneration from them if lent.
Now for my anecdotes.
THE SACK OF CORN.
Mathurin, in other respects as poor as Job, and obliged to earn his bread by day-labor, became, nevertheless, by some inheritance, the owner of a fine piece of uncultivated land.


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