12. Criticism of “Empirical Socialism”: the Cases of Louis Blanc and the Saint-Simonians

Léon Walras's critique of 19th-century socialists, particularly Louis Blanc and the Saint-Simonians, is a fascinating exploration of the philosophical and economic underpinnings of their theories. Walras evaluates these theories on a scale from best to worst, highlighting their strengths and weaknesses. His critique of Louis Blanc focuses on the philosophical weaknesses of his ideas, the rejection of competition, and the project of ateliers sociaux. Walras argues that Blanc's theories are less interesting than those of the Saint-Simonians and Charles Fourier. He also criticizes Blanc's idea of fraternity as a purely optional, voluntary, non-reciprocal principle. Walras's critique of the Saint-Simonians is more measured, acknowledging their positive contributions while pointing out their economic and moral errors. He argues that the Saint-Simonians' ideas on ground rent and interest are flawed, and their distinction between workers and idlers is not entirely accurate. Walras's critique of these socialist theories provides a nuanced understanding of his own liberal socialism and his views on the role of the state in the economy. This text is a valuable resource for those interested in the history of economic thought and the evolution of socialist ideas.