Friday, May 11, 2007
William Pare on equitable commerce
William Pare's "Equitable Villages in America," a lecture from 1854, is a particularly good short treatment of the system of "equitable commerce" proposed and practiced by Josiah Warren. Pare never forgot that the first principle of Warren's philosophy was individualization, and this helped him to understand that the "cost principle" is not simply a matter of exchanging labor time, but a system which incorporates into the notion of "cost" a whole range of subjective valuations, which cannot be subordinated to any social or institutional standard of equity without betraying the system completely. I recommend the essay to anyone interested in Warren's thought.