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Claude-Frédéric Bastiat (/ b ɑː s t i ˈ ɑː /; French: [klod fʁedeʁik bastja]; 30 June 1801 – 24 December 1850) was a French economist, writer and a prominent member of the French liberal school.
The Law (French: La Loi) is an 1850 book by Frédéric Bastiat. It was written at Mugron two years after the third French Revolution and a few months before his death of tuberculosis at age 49. The essay was influenced by John Locke's Second Treatise on Government and in turn influenced Henry Hazlitt's Economics in One Lesson. [1]
Bastiat is not addressing production – he is addressing the stock of wealth. In other words, Bastiat does not merely look at the immediate but at the longer effects of breaking the window. Bastiat takes into account the consequences of breaking the window for society as a whole, rather than for just one group. [3] [4]
The Bastiat Prize recognized journalists whose published works "explain, promote and defend the principles of the free society." [2] [3] The award came with US$15,000. [4] Instituted in 2002, the Prize was inspired by the 19th-century French philosopher Frédéric Bastiat and his defense of liberty. Bastiat's use of satire and allegory enabled ...
Harmonies of Political Economy is an 1850 book by the French classical liberal economist Frédéric Bastiat, in which the author applauds the power and ingenuity of the intricate social mechanism, "every atom of which ... is an animated thinking being, endued with marvelous energy, and with that principle of all morality, all dignity, all progress, the exclusive attribute of man - LIBERTY."
Key thinkers include Frédéric Bastiat, Jean-Baptiste Say, Antoine Destutt de Tracy, Julien Freund, Pierre Manent and Gustave de Molinari. The school voraciously defended free trade and laissez-faire. They were primary opponents of interventionist and protectionist ideas. This made the French school a forerunner of the modern Austrian school.
Frédéric Bastiat (France, 1801–1850) Claude Frédéric Bastiat was a French classical liberal theorist, political economist, and member of the French assembly. Some literature: La Loi , 1849; Harmonies économiques (Economic Harmonies), 1850; Ce qu'on voit et ce qu'on ne voit pas (What is Seen and What is Not Seen), 1850
Prior to 20th-century monetarist theory, the 19th-century economist and philosopher Frédéric Bastiat expressed the idea that trade deficits actually were a manifestation of profit, rather than a loss. He proposed as an example to suppose that he, a Frenchman, exported French wine and imported British coal, turning a profit.