Frederic Bastiat - the Law Frederic Bastiat was a French classical economist, statesman, and author. He did most of his writing during the years before and after the Revolution of February This was the period when France was rapidly turning to complete socialism. As a Deputy to the Legislative Assembly, Mr.
He was born in Bayonne, France on June 29th, After the middle-class Revolution ofBastiat became politically active and was elected Justice of the Peace in and to the Council General county-level assembly in He was elected to the national legislative assembly after the French Revolution of Bastiat was inspired by and routinely corresponded with Richard Cobden and the English Anti-Corn Law League and worked with free-trade associations in France.
Bastiat wrote sporadically starting in the s, but in he launched his amazing publishing career when an article on the effects of protectionism on the French and English people was published in the Journal des Economistes which was held to critical acclaim.
The bulk of his remarkable writing career that so inspired the early generation of English translators—and so many more—is contained in this collection.
He was a truly scintillating advocate of an untrammeled free market. These translators were like Bastiat himself, people from the private sector who had a love of knowledge and truth and who altered their careers to vigorously pursue intellectual ventures, scholarly publishing, and advocacy of free trade.
Thus does this collection, totaling 1, pages plus extensive indexes, represent some of the best economics ever written. He was the first, and one of the very few, to be able to convincingly communicate the basic propositions of economics.
The vast majority of people who have learned anything about economics have relied on Bastiat or publications that were influenced by his work. This collection—possibly more than anything ever written about economics—is the antidote for economic illiteracy regarding such things as the inadvisability of tariffs and price controls, and everyone from the novice to the Ph.
The collection consists of three sections, the first of which contains his best-known essays. In That Which is Seen, and That Which is Not Seen, Bastiat equips the reader to become an economist in the first paragraph and then presents the story of the broken window where a hoodlum is thought to create jobs and prosperity by breaking windows.
Bastiat solves the quandary of prosperity via destruction by noting that while the apparent prosperity is seen, what is unseen is that which would have been produced had the windows not been broken. This lesson is then applied to a variety of more complex cases, after which the reader will never be able to deny that scarcity exists and will always—hopefully—remember that every policy has an opportunity cost.
If nothing else, they will not believe—as is often claimed—that earthquakes, hurricanes, and wars lead to prosperity. The remaining essays cover the important institutions of society—law, government, money, and capital—where Bastiat explains the nature of these institutions and disabuses the reader of all the common misconceptions regarding them.
Here Bastiat shows his mastery of the methods of argumentation— using basic logic and taking arguments to their logical extreme—to demonstrate and ridicule them as obvious fallacies.
In his Negative Railroad Bastiat argues that if an artificial break in a railroad causes prosperity by creating jobs for boatmen, porters, and hotel owners, then there should be not one break, but many, and indeed the railroad should be just a series of breaks—a negative railroad.
In his article An Immense Discovery! His Petition of the Candlemakers argues in jest that a law should be passed to require that all doors and windows be closed and covered during the day to prevent the sun from unfairly competing with the makers of candles and that if such a law were passed it would create high-paying jobs in candle and candlestick making, oil lamps, whale oil, etc.
Here he demonstrates that the interests of everyone in society are in harmony to the extent that property rights are respected. Because there are no inherent conflicts in the market, government intervention is unnecessary.
Here we find a powerful but sadly neglected defense of the main thesis of old-style liberalism: Unless this insight is understood and absorbed, a person can never really come to grips with the fundamental meaning of liberty.Frederic Bastiat Essay; Frederic Bastiat Essay.
Words 5 Pages. Frederic Bastiat () was a French classical economist, statesman, and author. He did most of his writing during the years before and after the Revolution of February This was the period when France was rapidly turning to complete socialism.
Biography of. See also the original french text on leslutinsduphoenix.com Introduction In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. “Essays on Political Economy” is the first work I have ever read by Bastiat beyond quotes and excerpts.
I come away very impressed with his lines of reasoning and his simple examples to depict more complicated economic interactions and concepts/5. I. THE BROKEN WINDOW II. THE DISBANDING OF TROOPS III. TAXES IV. THEATRES AND FINE ARTS V. PUBLIC WORKS VI.
INTERMEDIATES VII. RESTRICTIONS VIII. MACHINERY IX. CREDIT X. ALGERIA XI. FRUGALITY AND LUXURY XII. HAVING A RIGHT TO WORK, HAVING A RIGHT TO PROFIT Sources.
. The History of Economic Theory features selected essays from influential economists of the 18th and 19th centuries. Included are the prominent works of T.R. Malthus, David Ricardo, Frédéric Bastiat, and John Stuart Mill. The integrity of the original essays has been carefully preserved, and no attempt has been made to add further commentary, dialogue, or reasoning to these fine compositions/5(2).
The remaining essays cover the important institutions of society—law, government, money, and capital—where Bastiat explains the nature of these institutions and disabuses the reader of all the common misconceptions regarding them.