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A person does not really read Voltaire’s Philosophical Dictionary (1764)–or at least I don’t –but instead surfs through it from time to time, trying to hit some of the high spots. Here are a couple of comments for reflection on a summer’s day, from the 1901 translation by William Fleming.

In the entry under “Presbyterian,” here is part of Voltaire’s reflection on how those of different religions seem to get along just fine in the Royal Exchange, that place where merchants and traders could come together, exchange information, and buy and sell. Voltaire wrote:

Enter into the Royal Exchange of London, a place more respectable than many courts, in which deputies from all nations assemble for the advantage of mankind. There the Jew, the Mahometan, and the Christian bargain with one another as if they were of the same religion, and bestow the name of infidel on bankrupts only. There the Presbyterian gives credit to the Anabaptist, and the votary of the establishment accepts the promise of the Quaker. On the separation of these free and pacific assemblies, some visit the synagogue, others repair to the tavern. Here one proceeds to baptize his son in a great tub, in the name of the Father, Son, and Holy Ghost; there another deprives his boy of a small portion of his foreskin, and mutters over the child some Hebrew words which he cannot understand; a third kind hasten to their chapels to wait for the inspiration of the Lord with their hats on; and all are content. Was there in London but one religion, despotism might be apprehended; if two only, they would seek to cut each other’s throats; but as there are at least thirty, they live together in peace and happiness.

For many of us, neither our daily job nor our neighborhood brings us into regular contact with anything resembling a cross-section of our fellow citizens. To see and interact with a broader group, we need to make a visit to a big-box retailer, or a shopping mall, or a second-hand store, a fast-food restaurant, or the food trucks aligned near a fairgrounds or an art festival. It seems to me an underrated aspect of markets that they offer an arena for cooperative behavior between very different types of people, including walking around in a shared space, standing in line, dealing with those working for sellers, and more.

For one more entry, here is a quotation from Voltaire’s entry on “Money,” touching on aspects of money, inflation, mercantilism, the business of giving financial advice, and public finance:

Provided we have a pledge of exchange for the necessary things of life, commerce will continually go on. It signifies not whether this pledge be of shells or paper. Gold and silver have prevailed everywhere, only because they have been the most rare. … I will not speak of the innumerable adventures which have happened to money since it has been stamped, marked, valued, altered, increased, buried, and stolen, having through all its transformations constantly remained the idol of mankind. It is so much loved that among all Christian princes there still exists an old law which is not to allow gold and silver to go out of their kingdoms. This law implies one of two things—either that these princes reign over fools who lavish their money in a foreign country for their pleasure, or that we must not pay our debts to foreigners. It is, however, clear that no person is foolish enough to give his money without reason, and that, when we are in debt to a foreigner, we should pay him either in bills of exchange, commodities, or legitimate coin. Thus this law has not been executed since we began to open our eyes—which is not long ago.

There are many things to be said on coined money; as on the unjust and ridiculous augmentation of specie, which suddenly loses considerable sums to a state on the melting down again; on the re-stamping, with an augmentation of ideal value, which augmentation invites all your neighbors and all your enemies to re-coin your money and gain at your expense; in short, on twenty other equally ruinous expedients. Several new books are full of judicious remarks upon this subject. It is more easy to write on money than to obtain it; and those who gain it, jest much at those who only know how to write about it.

In general, the art of government consists in taking as much money as possible from one part of the citizens to give to the other.

The last line in particular is pure Voltaire. When I tell people that I work in economics, often their first question is about my predictions for the stock market. Thus, I’m especially fond of Voltaire’s line: “It is more easy to write on money than to obtain it; and those who gain it, jest much at those who only know how to write about it.”

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