of the necessaries, conveniences and enjoyments of human life, riches may be increased." (Ricardo, "Principles of Political Economy.")
We have just seen that the economists before M. Proudhon have "signalised" the profound mystery of oppositon and contradiction. Let us now see how in his turn M. Proudhon explains this mystery after the economists.
The exchange-value of a product falls in proportion as the supply increases; in other terms, the greater the abundance of a product relatively to the demand, the lower its exchange-value or its price falls. And vice versa, the smaller the supply relatively to the demand, the higher the exchange-value or the price of the product rises; in other terms, the geater the scarcity of the products offered relatively to the demand the dearer they are. The exchange-value of a product depends upon its abundance or its scarcity, but always in relation to the demand. Suppose a most rare product, one unique of its kind, if you will: this unique product would be more than abundant if it were not wanted at all. On the other hand, suppose a product multiplied by millions, it will be always scarce so long as it does not meet the demand; that is to say, if it is in too great demand.
These are mere truisms, but it is necessary to reproduce them here in order to make M. Proudhon's mysteries clearly understood.
"Therefore in following the principle to its ultimate consequences, we come to this conclusion, the most logical in the world, that the things which are most necessary as articles of use, and whose quantity is infinite can be had for nothing, and those of which the utility is nil and which are extremely scarce will have an inestimable price. To increase the difficulty, actual
