Industrialism and “practical political economy”
Say strongly believed disseminating economic knowledge in the social body was the key to modernity. In this perspective, political economy was designed to be a useful and practical science.
“Industry” or industrialism, a cornerstone of his system of thought, played a significant role in the new era of progress that he envisioned, in his study of the relationship between the individual and society. In using the term “industry”, Say went beyond highlighting the superiority of manufacturing in jumpstarting individual and social wealth: industry designated “the action of physical and moral forces of man applied to production” (1814, 1121), which included both material and immaterial goods (services). The agents of industry (the “industrieux”) comprise scientists, farmers, entrepreneurs, producers or traders, and workers. The purpose was to show how an industrial society allows each citizen to improve his position. “Industry, consisting... of skill, talent, and knowledge as well as labour, was an independent source of net wealth” and productiveness (James 1977, 469-70). Therefore, the “industrieux” constitute the only productive group.For Say, political economy is an experimental science. The experimental method consists in observing and confronting the objects of study with reality (Say 1819, 7): political economy should be based on general facts. One should observe objects and concepts as they are, in all their facets and with all their properties; and one should observe the chain of events that lead from one circumstance to another. A close observation of the “nature of things” is the only way to determine what is true. However, a set of established truths could be modified in light of how facts articulated with reality. Given the multitude of facts and circumstances which characterise the state of the world, truth is never found unchanged, it could be modified depending on particular circumstances (Say 1826, 261).
In other words, each principle may come with exceptions.Practical political economy provides an illustration of the experimental nature of the science that Say wanted to promote. He refused to oppose theory to practice, regarded as two sides of the same coin (Say 1814, 12). Practical political economy refers to opposition to routine, to an “old-fashioned” way of life. Say aimed to show the merits of industry - the new way of life - and how it applies to individuals in the private and public sphere (Steiner 1990; Potier 2010: xxx-xxxi). The more individuals are trained and informed about political economy, the more they would be able to conduct themselves in a way that is conformed to their interests and to the interest of the nation. Consequently, practical political economy is both a way of life and a principle of management of public and private affairs. In that regard, the role of the economist - both as a scientist and a practitioner - is to seek and disseminate the truth in the various parts of society so that the middle-class (“classe mitoyenne”) could better understand its enlightened interests and emancipate. Individuals who master political economy are therefore able to make better decisions for themselves and for others.
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