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and  the  re-establishment  of  the  ancient  régime  ;  secondly,
Socialism,  which  looks  for  a  radical  change  of  the  social  order  ;
and  lastly,  the  orthodox  economy,  which  believes  that  everything ­
  will  be  set  to  rights  by  means  of  liberty  and  the  action  of
natural  laws.  According  to  the  Katheder-Socialisten,  none  of
these  three  systems  will  resolve  the  difficulties  which  trouble
the  present  epoch.  A  return  to  the  past  is  impossible,  a  general
and  sudden  modification  of  society  is  equally  impossible,  and
to  invoke  liberty  is,  on  this  point,  to  cheat  one’s  self  with  empty
words  j  for  it  is  a  question  of  right,  of  the  statute-book,  and  of
social  organization.  Distribution  is  effected  not  only  by  virtue
of  contracts,  which  ought,  of  course,  to  be  free,  but  mainly  by
virtue  of  the  laws  of  the  State  and  the  moral  sentiments,  of
which  it  is  necessary  to  estimate  the  influence  and  judge  the
equity.
'  If  fias  been  a  mistake  to  investigate  economical  problems
from  an  isolated  standpoint  ;  they  are  closely  connected  with
psychology,  religion,  morals,  law,  customs,  and  history.  It  is,
therefore,  necessary  to  take  all  these  elements  into  account,  and
not  to  be  contented  with  the  uniform  and  superficial  formula  of
laissez  faire.  The  class  antagonism,  which  has  been  from  all
time  at  the  bottom  of  political  revolutions,  reappears  to-day
with  more  serious  features  than  ever.  It  seems  to  imperil  the
future  of  civilization.  There  is  no  use  in  denying  the  evil  ;  it
is  far  better  to  study  it  under  all  its  forms,  and  to  endeavour  to
apply  a  remedy  to  it  by  means  of  successive  and  rational
reforms.  It  is  to  morals,  to  the  sentiment  of  justice,  and  to
Christian  charity  that  we  must  look  for  inspiration.  Political
Economy  ought  to  be  an  ethical  science.
The  Socialists  of  the  Chair  differ  altogether  from  the  old
school  in  their  view  of  the  nature  and  limits  of  the  right  of
property.  The  orthodox  Economists  speak  of  “  property  ”  as
if  it  were  an  absolute  right,  perfectly  defined  and  always  identical. ­
  The  new  Economists  assert,  on  the  contrary,  that  this
right  has  assumed  very  different  forms  in  relation  to  the
modes  of  production  of  each  epoch  ;  that  in  like  manner  it  is
called  upon  to  undergo  new  changes  ;  that  it  can  never  be
considered  as  absolute,  since  it  exists  only  in  the  general