Economic Table

Economic Table

 

(Tableau économique), the principal work by F. Quesnay, the founder of the Physiocrats; the first attempt to analyze social reproduction by establishing definite balanced proportions between the natural (material) and value elements of social production. Economic Table was written in 1758.

Economic Table sets forth the erroneous theory of the net product (produit net), which according to Quesnay is created only in agriculture, and divides society into three classes: the productive class (farmers and hired agricultural laborers), the proprietary class (landowners and the king), and the sterile class (industrialists, merchants, artisans, and hired industrial workers). Quesnay then describes the circulation of a year’s product, a process that begins after the farmers have paid the landowners rent, which is considered the only form of net product, in the amount of 2 billion livres.

The process of circulation comprises the following five acts: (1) The landowners purchase 1 billion livres’ worth of food from the farmers; as a result, 1 billion livres return to the farmers, and one-fifth of the year’s product goes out of circulation. (2) The landowners use the remaining 1 billion of their 2 billion livres received in rent to buy industrial articles from the sterile class. (3) With the 1 billion livres received for its industrial articles, the sterile class buys food products from the farmers. A second billion livres is thus returned to the farmers, and two-fifths of the year’s product goes out of circulation. (4) The farmers buy 1 billion livres’ worth of industrial articles from the sterile class, which go toward the replacement of tools and materials whose value was included in the value of the year’s product. (5) The sterile class uses its 1 billion livres to purchase raw materials from the farmers. The circulation of the year’s product thus ensures the replacement of the capital (avances) used in agriculture and industry, and production can begin again.

K. Marx criticized the flaws and contradictions in Economic Table. Since it was based on the erroneous theory of the net product and an incorrect class division of society, the work did not reflect the mechanism of capitalist reproduction and its contradictions. The practical recommendations that came out of Economic Table, however, were progressive and antifeudal.

REFERENCES

Marx, K. Kapital, vols. 1–2. In K. Marx and F. Engels, Soch., 2nd ed., vols. 23–24.
Marx, K. Teorii pribavochnoi stoimosti (vol. 4 of Kapital). Ibid., vol. 26, part 2.
Engels, F. Anti-Dühring. Ibid., vol. 20.
Anikin, A. V. lunost’ nauki. Moscow, 1970.
References in periodicals archive ?
The event was participated by commercial counselor of Afghanistan, President of the Embassy Economic Office, Chairman and Secretary General of Iran-Afghanistan Joint Chamber, Former Counselor of Islamic Republic of Afghanistan, the Head of Afghanistan Economic Table at Ministry of Foreign Affairs, the Secretary General and Deputy of Economic and International Affairs of Iran Chamber of Cooperatives and a large number of economic cooperators.
Events preceding this, like the Army Chief blaming 'fiscal mismanagement' in the past for the current economic predicament and his inclusion in the National Development Council make it abundantly clear that the Army, in addition to security and foreign affairs, now has a seat at the economic table as well.
Also, on the economic table, many are already counting the putative economic dividends that the agreement could bring, especially those slobbering after the bountiful resources in the proposed Bangsamoro territory.
The Assembly's First Minister has claimed Wales will shoot-up the economic table with 135,000 new jobs in the next ten years.
London topped the economic table in Europe, with output two-and-a-half times the EU average.
And it's more than jobs that the small businessperson brings to the economic table. It's innovation of an order rarely seen in the Fortune 500 world, the expansion of capitalism into areas that are unprecedented, even unimagined.
To exclude Filipino smallscale miners in the national development agenda by failing to draw them into the formal sector is also to reject the value they bring to the economic table and to prop up the forces that derive benefits from the sector's continued illegality.
Carolyn Maloney, US Congress Woman: "We recognize that we need that we need women at all the tables and not just the kitchen table, but the peace table, the economic table. All the tables where all the important decisions are made."
The report, prepared by Robert Williams, who drafted the original report for the OCSE, recommended that the economic table be updated in light of more current economic data and research.
He headed up the economic table at the constituent assembly, then won the mayoral race because of Chavez's backing.
And therein lies the dilemma: Does one buy the world's dissatisfied off with bigger scrapings from the economic table, or is it preferable to discourage their envy at the end of an imperial gun barrel?