Bastiat Institute
The Global Liberty Community
Money, Greed, Equality, Envy, and Charity
Preface
Liberty is the central element of human nature. It is the essence of will, the source of creativity, and a prerequisite of virtue. As such, it is also the driving force of civilization and the foundation of any working society. And yet, being an abstract concept, its precise nature is often inadequately understood. This is unfortunate, since, while liberty can work its miracles when used by those who understand it only on an intuitive level, it remains fragile until it is comprehended on a deeper, philosophical level as well. Luckily, there exists a substantial literature whose aim is to...
By Jakub Bozydar Wisniewski
20 / Liberty, Authority, and Power
Preface Liberty is the central element of human nature. It is the essence of will, the source of creativity, and a prerequisite of virtue. As such, it is also the driving force of civilization and the foundation of any working society. And yet, being an abstract concept, its precise nature is often inadequately understood. This is unfortunate, since, while liberty can work its miracles when used by those who understand it only on an intuitive level, it remains fragile until it is comprehended on a deeper, philosophical level as well. Luckily, there exists a substantial literature whose aim is to...
By Jakub Bozydar Wisniewski
30 / Entrepreneurship, Business, Economics, and Politics
Preface Liberty is the central element of human nature. It is the essence of will, the source of creativity, and a prerequisite of virtue. As such, it is also the driving force of civilization and the foundation of any working society. And yet, being an abstract concept, its precise nature is often inadequately understood. This is unfortunate, since, while liberty can work its miracles when used by those who understand it only on an intuitive level, it remains fragile until it is comprehended on a deeper, philosophical level as well. Luckily, there exists a substantial literature whose aim is to...
By Jakub Bozydar Wisniewski40
Economic Sophisms: II.10, The Tax Collector
JAMES GOODFELLOW, a Vineyardist. CLODPATE, a Tax Collector. CLODPATE: You have laid in twenty tuns of wine? JAMES GOODFELLOW: Yes, by dint of much toil and sweat. C.: Be so kind as to give me six of the best. J.G.: Six tuns out of twenty! Good heavens! You're trying to ruin me. And, if you please, what do you intend to do with them? C.: The first will be given to the creditors of the state. When one has debts, the very least one can do is to pay the interest on them. J.G.: And what has become of the...
By Bastiat Institute52
Economic Sophisms: II.9, Robbery by Subsidy
People are finding my little book of Sophisms too theoretical, scientific, and metaphysical. Very well. Let us try the effect of a trivial, banal, and, if need be, a ruder style of writing. Convinced that the public has been duped into accepting the policy of protectionism, I have tried to prove it by an appeal to reason.
By Bastiat Institute70
Economic Sophisms: II.8, Post Hoc, Ergo Propter Hoc
This is the most common and the most deceptive of all fallacies. Real suffering is taking place in England. It comes in the train of two other events: 1. The tariff reform. 2. Two bad harvests in succession. To which of these last two circumstances is the first to be attributed? The protectionists have not failed to cry out: "It is this accursed free trade that is causing all the trouble. It promised us no end of blessings, we accepted it, and here the factories have closed, and the people are suffering: Cum hoc, ergo propter hoc." Free trade distributes...
By Bastiat Institute110
Economic Sophisms: II.7, A Chinese Tale
People bewail the greed and selfishness of our age! I, for my part, find the world, especially Paris, peopled with Deciuses. Open the thousand books, the thousand newspapers, the thousand pamphlets, that the Parisian presses spew forth every day over the country. Are they not all the work of little saints? What animation in the painting of the vices of our day! What moving concern for the masses! With what liberality the rich are invited to share with the poor, if not the poor with the rich! What a host of plans for social reforms, social improvements, social organizations! Is...
By Bastiat Institute120
Economic Sophisms: II.6, To Artisans and Laborers
Several newspapers have attacked me in your presence. Won't you please read my defense? I am not a distrustful person. When a man writes or speaks, I take it for granted that he believes what he is saying. And yet, as I read and reread the newspapers that have attacked me, I seem to find in them unfortunate evidence to the contrary. What is the question at issue? It is that of determining which is more advantageous for you, protectionism or free trade.
By Bastiat Institute110
Economic Sophisms: II.5, High Prices and Low Prices
I feel it my duty to present to the reader certain—alas, theoretical—comments on the illusions to which the expressions high prices and low prices give rise. At first glance, I know, people may be inclined to consider these comments a little abstruse; but the question is, not whether they are abstruse, but whether they are true. Now, I believe that they are not only perfectly true but particularly well suited to raise some doubts in the minds of those—by no means few in number—who have a sincere faith in the efficacy of protectionism.
By Bastiat Institute40
Economic Sophisms: II.4, Subordinate Labor Council
"What! You have the effrontery to demand for all citizens the right to buy, sell, barter, and exchange, to render and receive service for service, and settle on the price among themselves, on the sole condition that they carry on these transactions honestly and pay their taxes? What are you trying to do—deprive workingmen of their jobs, their wages, and their bread?"
By Bastiat Institute50
Economic Sophisms: II.3, The Two Hatchets
Petition of Jacques Bonhomme, Carpenter, to M. Cunin-Gridaine, Minister of Commerce Mr. Manufacturer and Cabinet Minister: I am a carpenter, as Jesus was; I wield the hatchet and the adze to serve you.
By Bastiat Institute50
Economic Sophisms: II.2, Two Systems of Ethics
Having arrived—if he does arrive—at the end of the preceding chapter, the reader may well exclaim: "Well, was I wrong to accuse economists of being dry and cold? What a portrait of mankind! Plunder is represented as an omnipresent force, almost a normal phenomenon, assuming every guise, practiced under any pretext, legal or extralegal, perverting to its own purposes all that is most sacred, exploiting weakness and credulity by turns, and constantly growing by what it feeds on! Could any more depressing picture of the world be imagined?"
By Bastiat Institute70
Economic Sophisms: II.1, The Physiology of Plunder
Why do I keep dwelling on that dry science, political economy? Why? The question is a reasonable one. All labor by its very nature is so repugnant that one has the right to ask what purpose it serves. Let us investigate and see.
By Bastiat Institute70
Economic Sophisms: First Series, Conclusion
All the sophisms that I have so far attacked concern only the question of the policy of protectionism; and even of those, out of pity for the reader, "I pass over some of the best": acquired rights, practical difficulties in the way, depletion of the currency, etc., etc. But political economy is not confined within this narrow circle. Fourierism, Saint-Simonianism, communism, mysticism, sentimentalism, false humanitarianism, affected aspirations for an imaginary equality and fraternity; questions relating to luxury, wages, machinery; to the so-called tyranny of capital; to colonies, outlets, conquests, population, emigration, association, taxes, and loans, have crowded the field of...
By Bastiat Institute60
Economic Sophisms: Chapter 22, Metaphors
Sometimes a sophism expands until it permeates the whole fabric of a long and elaborate theory. More often it contracts and shrinks, assumes the form of a principle, and takes cover behind a word or a phrase.
By Bastiat Institute70
Economic Sophisms: Chapter 21, Raw Materials
It is said that the most advantageous of all branches of trade is that in which one exchanges manufactured goods for raw materials. For these raw materials are the staff of life for domestic labor. Hence, the conclusion is drawn that the best tariff law would be the one that would most facilitate the importation of raw materials and would erect the most obstacles to the entry of finished goods.
By Bastiat Institute60
Economic Sophisms: Chapter 20, Human vs. Mechanical Labor and Domestic vs. Foreign Labor
Destroying machinery and interdicting the entry of foreign goods are alike in being both founded on the same doctrine. Those who at the same time applaud the appearance of a great invention and nevertheless advocate protectionism are most inconsistent. What is their objection to free trade? They charge it with encouraging foreigners who are more skillful than we are, or who live under more advantageous economic conditions than we do, to produce things that, in the absence of free trade, we should produce ourselves. In short, they accuse it of injuring domestic labor.
By Bastiat Institute50
Economic Sophisms: Chapter 19, National Independence
Among the arguments that have been advanced in favor of the protectionist system, we must not forget the one that is founded on the idea of national independence. "What shall we do in case of war," people ask, "if we have put ourselves at the mercy of England for iron and coal?" The English monopolists for their part do not fail to exclaim: "What will happen to Great Britain in time of war if she makes herself dependent on France for food?"
By Bastiat Institute60
Economic Sophisms: Chapter 18, There Are No Absolute Principles
We cannot but be astonished at the ease with which men resign themselves to ignorance about what it is most important for them to know; and we may be certain that they are determined to remain invincibly ignorant if they once come to consider it as axiomatic that there are no absolute principles. Attend a session of the legislature and listen to a debate over the question whether the law should prohibit international exchange or permit free trade.
By Bastiat Institute50
Economic Sophisms: Chapter 17, A Negative Railroad
I have said that as long as one has regard, as unfortunately happens, only to the interest of the producer, it is impossible to avoid running counter to the general interest, since the producer, as such, demands nothing but the multiplication of obstacles, wants, and efforts.
By Bastiat Institute61
Economic Sophisms: Chapter 16, Obstructed Rivers as Advocates for the Protectionists
Some years ago I was in Madrid, where I attended a session of the Cortes. The subject under discussion was a treaty with Portugal for improving navigation on the Douro. One of the deputies rose and said: "If the Douro is canalized, shipping rates for cargoes traveling on it will be reduced. Portuguese grain will consequently sell at a lower price in the markets of Castile and will provide formidable competition for our domestic industry. I oppose the project, unless our cabinet ministers agree to raise the customs duty so as to redress the balance." The assembly found this argument...
By Bastiat Institute30
Economic Sophisms: Chapter 15, Reciprocity Again
M. de Saint-Cricq inquires: "Are we sure that foreigners will buy from us as much as they sell to us?" M. de Dombasle would like to know: "What reason have we to believe that English producers will look to our country, rather than to any other, for the products they may need, or that the value of what they import from us will equal that of their exports to us?" I marvel how men who call themselves practical above everything else can employ reasoning so completely divorced from all practice!
By Bastiat Institute51
Economic Sophisms: Chapter 14, Conflict of Principles
One thing that confuses me is this: Sincere political theorists, after studying economic problems solely from the producers' point of view, arrive at the following two conclusions: "Governments should compel the consumers who are subject to their laws to do what is beneficial for domestic industry. "Governments should make foreign consumers subject to their laws in order to compel them to do what is beneficial for domestic industry."
By Bastiat Institute30
Economic Sophisms: Chapter 13, Theory and Practice
We advocates of free trade are accused of being theorists, of not taking practice sufficiently into consideration. "In what a frightfully prejudicial light M. Say is put," observes M. Ferrier, "by that long line of distinguished administrators and that imposing band of writers who disagreed with his views!
By Bastiat Institute40
Economic Sophisms: Chapter 12, Does Protectionism Raise Wage Rates?
An atheist was railing against religion, against priests, and against God. "If you keep on like this," said one of his listeners, who was not very orthodox himself, "you are going to make a pious man of me."
By Bastiat Institute20
Economic Sophisms: Chapter 11, Money Prices
Do you wish to decide between free trade and protectionism? Do you wish to appreciate the significance of an economic phenomenon? Inquire into the extent of its effects upon the abundance or the scarcity of commodities, and not upon a rise or a fall in prices. Beware of thinking in terms of money prices; they will only lead you into an inextricable labyrinth.
By Bastiat Institute31
Economic Sophisms: Chapter 10, Reciprocity
We have just seen that whatever makes transportation more expensive acts in the same way as a protective tariff; or, if you prefer, that a protective tariff acts in the same way as anything that makes transportation more expensive. It is thus accurate to say that a protective tariff is like a marsh, a rut, a gap in the route, or a steep hill—in a word, it is an obstacle whose effect is to increase the difference between the price the producer receives and the price the consumer pays. It is likewise incontestable that marshes and bogs are, in effect,...
By Bastiat Institute30
Economic Sophisms: Chapter 9, An Immense Discovery!
At a time when everyone is trying to find a way of reducing the costs of transportation; when, in order to realize these economies, highways are being graded, rivers are being canalized, steamboats are being improved, and Paris is being connected with all our frontiers by a network of railroads and by atmospheric, hydraulic, pneumatic, electric, and other traction systems; when, in short, I believe that everyone is zealously and sincerely seeking the solution of the problem of reducing as much as possible the difference between the prices of commodities in the places where they are produced and their prices...
By Bastiat Institute40
Economic Sophisms: Chapter 8, Differential Tariffs
An impoverished farmer of the Gironde had lovingly tended a vine slip. After much fatigue and toil he finally had the good fortune to harvest enough grapes from it to make a cask of wine, and he forgot that each drop of this precious nectar had cost his brow a drop of sweat. "I shall sell it," he told his wife, "and with the price I shall buy enough material to enable you to furnish a trousseau for our daughter."
By Bastiat Institute30
Economic Sophisms: Chapter 7, A Petition
From the Manufacturers of Candles, Tapers, Lanterns, Candlesticks, Street Lamps, Snuffers, and Extinguishers, and from the Producers of Tallow, Oil, Resin, Alcohol, and Generally of Everything Connected with Lighting. To the Honorable Members of the Chamber of Deputies. Gentlemen: You are on the right track. You reject abstract theories and have little regard for abundance and low prices. You concern yourselves mainly with the fate of the producer. You wish to free him from foreign competition, that is, to reserve the domestic market for domestic industry.
By Bastiat Institute61
Economic Sophisms: Chapter 6, The Balance of Trade
Our opponents have adopted a tactic that puts us in a most embarrassing position. When we expound our doctrine, they accept it in the most respectful manner possible. When we attack their principles, they abandon them with the best grace in the world. They ask only that our doctrine, which they accept as true, be relegated to books, and that their principles, which they admit to be faulty, constitute the rule in the realm of practical affairs. Grant them the management of tariffs, and they will leave to you the domain of theory.
By Bastiat Institute40
Economic Sophisms: Chapter 5, Our Products Are Burdened with Taxes
This is the same sophism. People demand that a tariff be levied on a foreign product in order to neutralize the effects of a domestic tax imposed upon the same product when it is made in France. The issue here is the same as the one we have just considered, namely, that of equalizing the conditions of production. We have little more to say on the subject. The domestic tax is an artificial obstacle that has exactly the same result as a natural obstacle, which is to force a rise in the price. If the price rises to the point...
By Bastiat Institute30
Economic Sophisms: Chapter 4, Equalizing the Conditions of Production
It has been said.... but, in order to avoid being charged with putting sophisms into the mouths of the protectionists, I prefer to let one of their most vigorous champions speak for them.
By Bastiat Institute20
Economic Sophisms: Chapter 3, Effort and Result
We have just seen that there are obstacles between our wants and their satisfaction. We succeed in eliminating these obstacles or in lessening them by employing our productive capacities to overcome them. Thus, it may be said, in a very general way, that industry is an effort followed by a result. But what constitutes the measure of our well-being, that is, of our wealth? Is it the result of the effort? Or is it the effort itself? There is always a ratio between the effort applied and the result obtained. Does progress consist in the relative increase in the first...
By Bastiat Institute40
Economic Sophisms: Chapter 2, Obstacle and Cause
To regard the obstacle as the cause—to mistake scarcity for abundance—is to be guilty of the same sophism in another guise. It deserves to be studied in all its forms. Man in the primitive state is destitute of everything. Between his destitution and the satisfaction of his wants there is a multitude of obstacles, which it is the goal of labor to surmount. It is curious to inquire how and why these very obstacles to his well-being have come to be mistaken for its cause.
By Bastiat Institute40
Economic Sophisms: Chapter 1, Abundance and Scarcity
Which is preferable for man and for society, abundance or scarcity? "What!" people may exclaim. "How can there be any question about it? Has anyone ever suggested, or is it possible to maintain, that scarcity is the basis of man's well-being?" Yes, this has been suggested; yes, this has been maintained and is maintained every day, and I do not hesitate to say that the theory of scarcity is by far the most popular of all theories. It is the burden of conversations, newspaper articles, books, and political speeches; and, strange as it may seem, it is certain that political...
By Bastiat Institute70
Economic Sophisms: First Series, Author’s Introduction to the French Edition
I have attempted, in this brief volume, to refute some of the arguments that are raised against the introduction of free trade. I am not engaging here in controversy with the protectionists. Rather, I am trying to instill a principle into the minds of sincere men who hesitate to take a stand on the issue because they are in doubt. I am not one of those who say that the advocates of protectionism are motivated by self-interest. Instead, I believe that the opposition to free trade rests upon errors, or, if you prefer, upon half-truths. The mistrust of free trade...
By Bastiat Institute80
Economic Sophisms: Introduction, by Henry Hazlitt
Frédéric Bastiat was born at Bayonne, France, on June 29, 1801. His father was a wholesale merchant, but Frédéric was orphaned at the age of nine and was brought up by his grandfather and his aunt. He seems to have had a good, though not an extraordinary education, which included languages, music, and literature. He began the study of political economy at nineteen and read principally Adam Smith and Jean-Baptiste Say. Bastiat's early life, however, was not primarily that of a scholar. At the age of seventeen he went to work in his uncle's counting-house and spent about six years...
By Bastiat Institute90
The Soul of Liberty — Public Works
When a government decides to employ more inspectors, more teachers, more drivers, etc., it is generally seen as a net gain for society, as it is said to provide jobs while attempting to meet the demand for much needed services. But in most cases that's where the story ends and the negative consequences of this economic interventionism go unconsidered.
By Bastiat Institute40
Bastiat Debates Proudhon: 16. The Last Word
Bastiat gets the last word in this debate, giving his version of a recap. The case is heard and the debate is closed, proclaims M. Proudhon, making himself a judge in his own cause. M. Bastiat is condemned ... to death. I condemn him in his intelligence; I condemn him in his attention, in his comparisons, in his memory, and in his judgment; I condemn him in his reason; I condemn him in his logic; I condemn him by induction, by syllogism, by contradiction, by identity, and by antinomy. Oh! monsieur Proudhon, you must have been in quite a...
By Bastiat Institute10
Bastiat Debates Proudhon: 15. Defense of Paper Money
Proudhon gives his version of a recap of the conversation thus far, and proclaims that Bastiat's critiques of paper money have all been refuted by scientific fact. Translated by Benjamin Tucker. Monsieur Bastiat, your last letter justifies all my anticipations. I knew so well what it would [contain] that, even before I had received La Voix du Peuple of February 4, I had written three-fourths of the reply which you are now to read, and to which I have only to add the finishing touches. You are sincere, Monsieur Bastiat; on that [point] you leave no room for doubt;...
By Bastiat Institute20
Bastiat Debates Proudhon: 14. Critique of Paper Money
Bastiat equates Proudhon's plan for free credit as no different than the paper money schemes which had previously destroyed the French economy. Translated by Benjamin Tucker. Sir, you have rendered a signal service to society. Hitherto Gratuity of Credit has hidden itself within the clouds of philosophy, metaphysics, economy, antinomy, and history. By submitting it to the simple test of the account-book you have driven it down from those vague regions; you have stripped it bare before all eyes; everybody can recognize it: it is Paper Money. To multiply and equalize the wealth of the earth by showering paper...
By Bastiat Institute10
Bastiat Debates Proudhon: 13. What is Capital?
Proudhon explores the nature of capital and claims that profit is illegitimate, attacking Bastiat's positions. Sir, you have not deceived me; of this the spirit of honesty and extreme sincerity which shines through every line of your last letter is sufficient evidence. Therefore it is with the most heartfelt joy that I retract my words. But neither have I deceived you; I have not failed, as you charge, in my duty of hospitality. All your letters, according to my promise, have been religiously inserted in La Voix du Peuple without reserve, without reflection, without comment. For my part, I...
By Bastiat Institute10
Bastiat Debates Proudhon: 12. Freedom of Credit
Bastiat brings the issues of freedom and interest together, arguing that freedom of credit does not mean free/gratuitous credit. Translated by Benjamin Tucker. Sir, you say I have deceived you; no, I have been deceived. Admitted under your roof, to your fireside, here to discuss, surrounded by your own friends, a weighty question, I was at least entitled to believe that, if my arguments fell before your criticism, my person would be held sacred. You neglect my arguments, and characterize my person. – I have been deceived. Writing in your journal, addressing myself to your readers, it was my...
By Bastiat Institute10
Bastiat Debates Proudhon: 11. How to Abolish Interest
Proudhon lays some heavy insults on Bastiat, then lays out in full his scheme for the abolition of interest.
By Bastiat Institute20
Bastiat Debates Proudhon: 10. Free Credit
Bastiat makes a case that abolishing interest and granting free credit as Proudhon wants is nonsensical. Translated by Benjamin Tucker. Is Gratuity of Credit possible? Is Gratuity of Credit impossible? It is clear that to answer one of these questions is to answer the other. You accuse me of lacking in charity, because I persist in discussing the second. This is my motive: – An inquiry into the possibility of Gratuity of Credit would have drawn me into a discussion of the Bank of the People, the Tax upon Capital, the National Workshops, the Organization of Labor, and, in...
By Bastiat Institute10
Bastiat Debates Proudhon: 9. Usury!
Proudhon explores the theory of exorbitant interest, and replies to Bastiat's hypothetical situations with his own.
By Bastiat Institute10
Bastiat Debates Proudhon: 8. What’s Wrong with Interest?
Bastiat challenges Proudhon's very understanding of credit.
By Bastiat Institute10
Bastiat Debates Proudhon: 7. What’s Wrong with Socialism?
Proudhon's second letter is a challenge to Bastiat. He asks what is wrong with the socialist system he proposes: A democratically run bank that issues interest-free credit, and a single tax on all capital.
By Bastiat Institute00
Bastiat Debates Proudhon: 6. Is Interest on Capital Legitimate?
The flame war really heats up as Bastiat retaliates with a rejoinder to Proudhon.
By Bastiat Institute00
Bastiat Debates Proudhon: 5. Proudhon Attacks Bastiat
Proudhon enters the melee with both fists swinging. Translated by Benjamin Tucker. The object of the Revolution of February, politically and economically, is the realization of absolute liberty for the man and the citizen. The formula of this Revolution, in the political sphere, is the organization of Universal Suffrage, or the absorption of the State in Society; in the economic sphere it is the organization of circulation and credit, or the absorption of the function of the Capitalist in that of the Laborer. Undoubtedly this formula alone does not convey a complete idea of the movement: it is only...
By Bastiat Institute00
Bastiat Debates Proudhon: 4. Letter to the Editor
Bastiat responds in a letter to the editor of Voix du Pueple. Proudhon writes a short introduction to Bastiat's response when it is published. The two prize fighters touch gloves for the first time. Translated by Benjamin Tucker. PROUDHON: We publish to-day a first article by M. Frederic Bastiat, a representative of the people, and one of the most distinguished economists of our country, upon the great question of the day, Interest or Rent of capital. We do for M. Bastiat, we will do for any serious economist who will honor us with his criticisms, a thing hitherto unknown...
By Bastiat Institute10
Bastiat’s Debate with Proudhon: 3. Voix du Peuple
Chevé, an editor of the magazine Voix du Peuple, responds to Bastiat's direct attack on that magazine's philosophy, beginning a flame war that will later include Proudhon.
By Bastiat Institute10
Bastiat’s Debate with Proudhon: 2. Cursed Money!
In his essay "Cursed Money!", Bastiat explores the theory of money. This essay will later be targeted by Proudhon in their debate on interest, and it is essential reading in this debate.
By Bastiat Institute00
The Soul of Liberty — Theaters and Fine Arts
When a person decides to attend a concert, play, or some other artistic spectacle, it is by choice; and the artist hosting it understands this and does their utmost to entertain the person in order to keep them coming back for more. Art is built upon industry. Industry generates wealth and the arts thrive on it. The artists are not generally parasitical, as long as their audience isn't made captive through government subsidy. Why then is it the government's job to provide this trade with an "endowment" made up of money that has unseen and unacknowledged origins? Some say, "for...
By Bastiat Institute20
The Soul of Liberty — Taxes
That Which is Seen, and That Which is Not Seen by Frédéric Bastiat ∇ Foreword by Josh Holden Proposing a world sans taxation is almost as well received today as it was in Bastiat’s time – and by that I mean, not so well at all. Now, like then, many hold fast to the notion of the “impossibility” of a prosperous, peaceful, and humane society without an uninhibited, unquestioned forced transfer of wealth. And why does this belief persist? It cannot be for some lack of imagination on the part of the masses, for it takes a great...
By Bastiat Institute30
The Soul of Liberty — The Demobilization
That Which is Seen, and That Which is Not Seen by Frédéric Bastiat ∇ Foreword by Josh Holden "Defense" spending by the US government exceeds the collective military expenditures of eight other nations, including superpowers like China.The cost to maintain such a force, even when setting aside the price of blowback from the same, is truly staggering. When every consequence is considered–it’s horrifying. But this much is obvious. The hidden costs, however, are incalculable. In the next feature of our series, Bastiat explains why. The Demobilization A nation is in the same case as a man. When...
By Bastiat Institute140
The Thinker Who Carried the Revolution
Introduction to Bastiat's Social Harmonies by Rose Wilder Lane Special thanks to David Hart Frederic Bastiat is one of the leaders of the revolution whose work and fame, like Aristotle's, belong to the ages. Aristotle, too, was a pioneer in an unexplored continent of human knowledge; he did little more than blaze two trees where the Wilderness Road began; he showed the way to a new world that he did not reach. What modern science owes to Aristotle, a free world will someday owe to Bastiat. He was born in Bayonne on June 29, 1801, when France was rocking under...
By Bastiat Institute270
Bastiat’s Debate with Proudhon: 1. Capital and Rent
The year is 1849. In one corner is Pierre-Joseph Proudhon, founding father of socialist anarchism. In the other corner is Frédéric Bastiat, representing the intellectual high water mark of 19th century classical liberalism.
By Bastiat Institute30
The Soul of Liberty – The Broken Window
That Which is Seen, and That Which is Not Seen by Frédéric Bastiat 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. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause - it is seen. The others unfold in succession - they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference - the one takes account of the visible effect; the...
By Bastiat Institute120
New Bastiat Series – The Soul of Liberty
“Bastiat was indeed a lucid and superb writer, whose brilliant and witty essays and fables to this day are remarkable and devastating demolitions of protectionism and of all forms of government subsidy and control. He was a truly scintillating advocate of an untrammeled free market.” ~ Murray Rothbard Frederic Bastiat was born in the south of France on June 30, 1801. It was during the Napoleonic Wars that he awoke to a world wrought with strife and terror at the coming of a new age. In his youth he saw the loss of both his mother and father. He then...
By Bastiat Institute151
ANNOUNCING: The Bastiat Institute on Liberty.me!
The Bastiat Institute is proud to announce the launch of our new Liberty.me publishing site. We promote free-market economics in all its forms through our network, which includes over 100,000 social media "likes" and "follows" from the US, Brazil, Vietnam, and dozens of other countries. Our focus on Liberty.me will be to publish Bastiat works and material relevant to the tradition, as well as insightful commentary by leading Austrian economists. We'll also be working with Liberty.me to release the Bastiat Collection, a series of 25 classic works that will feature original forwards. The Institute was recently joined by acclaimed economist Robert Murphy and...
By Bastiat Institute 413
Money, Greed, Equality, Envy, and Charity
Preface
Liberty is the central element of human nature. It is the essence of will, the source of creativity, and a prerequisite of virtue. As such, it is also the driving force of civilization and the foundation of any working society. And yet, being an abstract concept, its precise nature is often inadequately understood. This is unfortunate, since, while liberty can work its miracles when used by those who understand it only on an intuitive level, it remains fragile until it is comprehended on a deeper, philosophical level as well. Luckily, there exists a substantial literature whose aim is to...
By Jakub Bozydar Wisniewski
20 / Liberty, Authority, and Power
Preface Liberty is the central element of human nature. It is the essence of will, the source of creativity, and a prerequisite of virtue. As such, it is also the driving force of civilization and the foundation of any working society. And yet, being an abstract concept, its precise nature is often inadequately understood. This is unfortunate, since, while liberty can work its miracles when used by those who understand it only on an intuitive level, it remains fragile until it is comprehended on a deeper, philosophical level as well. Luckily, there exists a substantial literature whose aim is to...
By Jakub Bozydar Wisniewski
30 / Entrepreneurship, Business, Economics, and Politics
Preface Liberty is the central element of human nature. It is the essence of will, the source of creativity, and a prerequisite of virtue. As such, it is also the driving force of civilization and the foundation of any working society. And yet, being an abstract concept, its precise nature is often inadequately understood. This is unfortunate, since, while liberty can work its miracles when used by those who understand it only on an intuitive level, it remains fragile until it is comprehended on a deeper, philosophical level as well. Luckily, there exists a substantial literature whose aim is to...
By Jakub Bozydar Wisniewski40
Economic Sophisms: II.10, The Tax Collector
JAMES GOODFELLOW, a Vineyardist. CLODPATE, a Tax Collector. CLODPATE: You have laid in twenty tuns of wine? JAMES GOODFELLOW: Yes, by dint of much toil and sweat. C.: Be so kind as to give me six of the best. J.G.: Six tuns out of twenty! Good heavens! You're trying to ruin me. And, if you please, what do you intend to do with them? C.: The first will be given to the creditors of the state. When one has debts, the very least one can do is to pay the interest on them. J.G.: And what has become of the...
By Bastiat Institute52
Economic Sophisms: II.9, Robbery by Subsidy
People are finding my little book of Sophisms too theoretical, scientific, and metaphysical. Very well. Let us try the effect of a trivial, banal, and, if need be, a ruder style of writing. Convinced that the public has been duped into accepting the policy of protectionism, I have tried to prove it by an appeal to reason.
By Bastiat Institute70
Economic Sophisms: II.8, Post Hoc, Ergo Propter Hoc
This is the most common and the most deceptive of all fallacies. Real suffering is taking place in England. It comes in the train of two other events: 1. The tariff reform. 2. Two bad harvests in succession. To which of these last two circumstances is the first to be attributed? The protectionists have not failed to cry out: "It is this accursed free trade that is causing all the trouble. It promised us no end of blessings, we accepted it, and here the factories have closed, and the people are suffering: Cum hoc, ergo propter hoc." Free trade distributes...
By Bastiat Institute110
Economic Sophisms: II.7, A Chinese Tale
People bewail the greed and selfishness of our age! I, for my part, find the world, especially Paris, peopled with Deciuses. Open the thousand books, the thousand newspapers, the thousand pamphlets, that the Parisian presses spew forth every day over the country. Are they not all the work of little saints? What animation in the painting of the vices of our day! What moving concern for the masses! With what liberality the rich are invited to share with the poor, if not the poor with the rich! What a host of plans for social reforms, social improvements, social organizations! Is...
By Bastiat Institute120
Economic Sophisms: II.6, To Artisans and Laborers
Several newspapers have attacked me in your presence. Won't you please read my defense? I am not a distrustful person. When a man writes or speaks, I take it for granted that he believes what he is saying. And yet, as I read and reread the newspapers that have attacked me, I seem to find in them unfortunate evidence to the contrary. What is the question at issue? It is that of determining which is more advantageous for you, protectionism or free trade.
By Bastiat Institute110
Economic Sophisms: II.5, High Prices and Low Prices
I feel it my duty to present to the reader certain—alas, theoretical—comments on the illusions to which the expressions high prices and low prices give rise. At first glance, I know, people may be inclined to consider these comments a little abstruse; but the question is, not whether they are abstruse, but whether they are true. Now, I believe that they are not only perfectly true but particularly well suited to raise some doubts in the minds of those—by no means few in number—who have a sincere faith in the efficacy of protectionism.
By Bastiat Institute40
Economic Sophisms: II.4, Subordinate Labor Council
"What! You have the effrontery to demand for all citizens the right to buy, sell, barter, and exchange, to render and receive service for service, and settle on the price among themselves, on the sole condition that they carry on these transactions honestly and pay their taxes? What are you trying to do—deprive workingmen of their jobs, their wages, and their bread?"
By Bastiat Institute50
Economic Sophisms: II.3, The Two Hatchets
Petition of Jacques Bonhomme, Carpenter, to M. Cunin-Gridaine, Minister of Commerce Mr. Manufacturer and Cabinet Minister: I am a carpenter, as Jesus was; I wield the hatchet and the adze to serve you.
By Bastiat Institute50
Economic Sophisms: II.2, Two Systems of Ethics
Having arrived—if he does arrive—at the end of the preceding chapter, the reader may well exclaim: "Well, was I wrong to accuse economists of being dry and cold? What a portrait of mankind! Plunder is represented as an omnipresent force, almost a normal phenomenon, assuming every guise, practiced under any pretext, legal or extralegal, perverting to its own purposes all that is most sacred, exploiting weakness and credulity by turns, and constantly growing by what it feeds on! Could any more depressing picture of the world be imagined?"
By Bastiat Institute70
Economic Sophisms: II.1, The Physiology of Plunder
Why do I keep dwelling on that dry science, political economy? Why? The question is a reasonable one. All labor by its very nature is so repugnant that one has the right to ask what purpose it serves. Let us investigate and see.
By Bastiat Institute70
Economic Sophisms: First Series, Conclusion
All the sophisms that I have so far attacked concern only the question of the policy of protectionism; and even of those, out of pity for the reader, "I pass over some of the best": acquired rights, practical difficulties in the way, depletion of the currency, etc., etc. But political economy is not confined within this narrow circle. Fourierism, Saint-Simonianism, communism, mysticism, sentimentalism, false humanitarianism, affected aspirations for an imaginary equality and fraternity; questions relating to luxury, wages, machinery; to the so-called tyranny of capital; to colonies, outlets, conquests, population, emigration, association, taxes, and loans, have crowded the field of...
By Bastiat Institute60
Economic Sophisms: Chapter 22, Metaphors
Sometimes a sophism expands until it permeates the whole fabric of a long and elaborate theory. More often it contracts and shrinks, assumes the form of a principle, and takes cover behind a word or a phrase.
By Bastiat Institute70
Economic Sophisms: Chapter 21, Raw Materials
It is said that the most advantageous of all branches of trade is that in which one exchanges manufactured goods for raw materials. For these raw materials are the staff of life for domestic labor. Hence, the conclusion is drawn that the best tariff law would be the one that would most facilitate the importation of raw materials and would erect the most obstacles to the entry of finished goods.
By Bastiat Institute60
Economic Sophisms: Chapter 20, Human vs. Mechanical Labor and Domestic vs. Foreign Labor
Destroying machinery and interdicting the entry of foreign goods are alike in being both founded on the same doctrine. Those who at the same time applaud the appearance of a great invention and nevertheless advocate protectionism are most inconsistent. What is their objection to free trade? They charge it with encouraging foreigners who are more skillful than we are, or who live under more advantageous economic conditions than we do, to produce things that, in the absence of free trade, we should produce ourselves. In short, they accuse it of injuring domestic labor.
By Bastiat Institute50
Economic Sophisms: Chapter 19, National Independence
Among the arguments that have been advanced in favor of the protectionist system, we must not forget the one that is founded on the idea of national independence. "What shall we do in case of war," people ask, "if we have put ourselves at the mercy of England for iron and coal?" The English monopolists for their part do not fail to exclaim: "What will happen to Great Britain in time of war if she makes herself dependent on France for food?"
By Bastiat Institute60
Economic Sophisms: Chapter 18, There Are No Absolute Principles
We cannot but be astonished at the ease with which men resign themselves to ignorance about what it is most important for them to know; and we may be certain that they are determined to remain invincibly ignorant if they once come to consider it as axiomatic that there are no absolute principles. Attend a session of the legislature and listen to a debate over the question whether the law should prohibit international exchange or permit free trade.
By Bastiat Institute50
Economic Sophisms: Chapter 17, A Negative Railroad
I have said that as long as one has regard, as unfortunately happens, only to the interest of the producer, it is impossible to avoid running counter to the general interest, since the producer, as such, demands nothing but the multiplication of obstacles, wants, and efforts.
By Bastiat Institute61
Economic Sophisms: Chapter 16, Obstructed Rivers as Advocates for the Protectionists
Some years ago I was in Madrid, where I attended a session of the Cortes. The subject under discussion was a treaty with Portugal for improving navigation on the Douro. One of the deputies rose and said: "If the Douro is canalized, shipping rates for cargoes traveling on it will be reduced. Portuguese grain will consequently sell at a lower price in the markets of Castile and will provide formidable competition for our domestic industry. I oppose the project, unless our cabinet ministers agree to raise the customs duty so as to redress the balance." The assembly found this argument...
By Bastiat Institute30
Economic Sophisms: Chapter 15, Reciprocity Again
M. de Saint-Cricq inquires: "Are we sure that foreigners will buy from us as much as they sell to us?" M. de Dombasle would like to know: "What reason have we to believe that English producers will look to our country, rather than to any other, for the products they may need, or that the value of what they import from us will equal that of their exports to us?" I marvel how men who call themselves practical above everything else can employ reasoning so completely divorced from all practice!
By Bastiat Institute51
Economic Sophisms: Chapter 14, Conflict of Principles
One thing that confuses me is this: Sincere political theorists, after studying economic problems solely from the producers' point of view, arrive at the following two conclusions: "Governments should compel the consumers who are subject to their laws to do what is beneficial for domestic industry. "Governments should make foreign consumers subject to their laws in order to compel them to do what is beneficial for domestic industry."
By Bastiat Institute30
Economic Sophisms: Chapter 13, Theory and Practice
We advocates of free trade are accused of being theorists, of not taking practice sufficiently into consideration. "In what a frightfully prejudicial light M. Say is put," observes M. Ferrier, "by that long line of distinguished administrators and that imposing band of writers who disagreed with his views!
By Bastiat Institute40
Economic Sophisms: Chapter 12, Does Protectionism Raise Wage Rates?
An atheist was railing against religion, against priests, and against God. "If you keep on like this," said one of his listeners, who was not very orthodox himself, "you are going to make a pious man of me."
By Bastiat Institute20
Economic Sophisms: Chapter 11, Money Prices
Do you wish to decide between free trade and protectionism? Do you wish to appreciate the significance of an economic phenomenon? Inquire into the extent of its effects upon the abundance or the scarcity of commodities, and not upon a rise or a fall in prices. Beware of thinking in terms of money prices; they will only lead you into an inextricable labyrinth.
By Bastiat Institute31
Economic Sophisms: Chapter 10, Reciprocity
We have just seen that whatever makes transportation more expensive acts in the same way as a protective tariff; or, if you prefer, that a protective tariff acts in the same way as anything that makes transportation more expensive. It is thus accurate to say that a protective tariff is like a marsh, a rut, a gap in the route, or a steep hill—in a word, it is an obstacle whose effect is to increase the difference between the price the producer receives and the price the consumer pays. It is likewise incontestable that marshes and bogs are, in effect,...
By Bastiat Institute30
Economic Sophisms: Chapter 9, An Immense Discovery!
At a time when everyone is trying to find a way of reducing the costs of transportation; when, in order to realize these economies, highways are being graded, rivers are being canalized, steamboats are being improved, and Paris is being connected with all our frontiers by a network of railroads and by atmospheric, hydraulic, pneumatic, electric, and other traction systems; when, in short, I believe that everyone is zealously and sincerely seeking the solution of the problem of reducing as much as possible the difference between the prices of commodities in the places where they are produced and their prices...
By Bastiat Institute40
Economic Sophisms: Chapter 8, Differential Tariffs
An impoverished farmer of the Gironde had lovingly tended a vine slip. After much fatigue and toil he finally had the good fortune to harvest enough grapes from it to make a cask of wine, and he forgot that each drop of this precious nectar had cost his brow a drop of sweat. "I shall sell it," he told his wife, "and with the price I shall buy enough material to enable you to furnish a trousseau for our daughter."
By Bastiat Institute30
Economic Sophisms: Chapter 7, A Petition
From the Manufacturers of Candles, Tapers, Lanterns, Candlesticks, Street Lamps, Snuffers, and Extinguishers, and from the Producers of Tallow, Oil, Resin, Alcohol, and Generally of Everything Connected with Lighting. To the Honorable Members of the Chamber of Deputies. Gentlemen: You are on the right track. You reject abstract theories and have little regard for abundance and low prices. You concern yourselves mainly with the fate of the producer. You wish to free him from foreign competition, that is, to reserve the domestic market for domestic industry.
By Bastiat Institute61
Economic Sophisms: Chapter 6, The Balance of Trade
Our opponents have adopted a tactic that puts us in a most embarrassing position. When we expound our doctrine, they accept it in the most respectful manner possible. When we attack their principles, they abandon them with the best grace in the world. They ask only that our doctrine, which they accept as true, be relegated to books, and that their principles, which they admit to be faulty, constitute the rule in the realm of practical affairs. Grant them the management of tariffs, and they will leave to you the domain of theory.
By Bastiat Institute40
Economic Sophisms: Chapter 5, Our Products Are Burdened with Taxes
This is the same sophism. People demand that a tariff be levied on a foreign product in order to neutralize the effects of a domestic tax imposed upon the same product when it is made in France. The issue here is the same as the one we have just considered, namely, that of equalizing the conditions of production. We have little more to say on the subject. The domestic tax is an artificial obstacle that has exactly the same result as a natural obstacle, which is to force a rise in the price. If the price rises to the point...
By Bastiat Institute30
Economic Sophisms: Chapter 4, Equalizing the Conditions of Production
It has been said.... but, in order to avoid being charged with putting sophisms into the mouths of the protectionists, I prefer to let one of their most vigorous champions speak for them.
By Bastiat Institute20
Economic Sophisms: Chapter 3, Effort and Result
We have just seen that there are obstacles between our wants and their satisfaction. We succeed in eliminating these obstacles or in lessening them by employing our productive capacities to overcome them. Thus, it may be said, in a very general way, that industry is an effort followed by a result. But what constitutes the measure of our well-being, that is, of our wealth? Is it the result of the effort? Or is it the effort itself? There is always a ratio between the effort applied and the result obtained. Does progress consist in the relative increase in the first...
By Bastiat Institute40
Economic Sophisms: Chapter 2, Obstacle and Cause
To regard the obstacle as the cause—to mistake scarcity for abundance—is to be guilty of the same sophism in another guise. It deserves to be studied in all its forms. Man in the primitive state is destitute of everything. Between his destitution and the satisfaction of his wants there is a multitude of obstacles, which it is the goal of labor to surmount. It is curious to inquire how and why these very obstacles to his well-being have come to be mistaken for its cause.
By Bastiat Institute40
Economic Sophisms: Chapter 1, Abundance and Scarcity
Which is preferable for man and for society, abundance or scarcity? "What!" people may exclaim. "How can there be any question about it? Has anyone ever suggested, or is it possible to maintain, that scarcity is the basis of man's well-being?" Yes, this has been suggested; yes, this has been maintained and is maintained every day, and I do not hesitate to say that the theory of scarcity is by far the most popular of all theories. It is the burden of conversations, newspaper articles, books, and political speeches; and, strange as it may seem, it is certain that political...
By Bastiat Institute70
Economic Sophisms: First Series, Author’s Introduction to the French Edition
I have attempted, in this brief volume, to refute some of the arguments that are raised against the introduction of free trade. I am not engaging here in controversy with the protectionists. Rather, I am trying to instill a principle into the minds of sincere men who hesitate to take a stand on the issue because they are in doubt. I am not one of those who say that the advocates of protectionism are motivated by self-interest. Instead, I believe that the opposition to free trade rests upon errors, or, if you prefer, upon half-truths. The mistrust of free trade...
By Bastiat Institute80
Economic Sophisms: Introduction, by Henry Hazlitt
Frédéric Bastiat was born at Bayonne, France, on June 29, 1801. His father was a wholesale merchant, but Frédéric was orphaned at the age of nine and was brought up by his grandfather and his aunt. He seems to have had a good, though not an extraordinary education, which included languages, music, and literature. He began the study of political economy at nineteen and read principally Adam Smith and Jean-Baptiste Say. Bastiat's early life, however, was not primarily that of a scholar. At the age of seventeen he went to work in his uncle's counting-house and spent about six years...
By Bastiat Institute90
The Soul of Liberty — Public Works
When a government decides to employ more inspectors, more teachers, more drivers, etc., it is generally seen as a net gain for society, as it is said to provide jobs while attempting to meet the demand for much needed services. But in most cases that's where the story ends and the negative consequences of this economic interventionism go unconsidered.
By Bastiat Institute40
Bastiat Debates Proudhon: 16. The Last Word
Bastiat gets the last word in this debate, giving his version of a recap. The case is heard and the debate is closed, proclaims M. Proudhon, making himself a judge in his own cause. M. Bastiat is condemned ... to death. I condemn him in his intelligence; I condemn him in his attention, in his comparisons, in his memory, and in his judgment; I condemn him in his reason; I condemn him in his logic; I condemn him by induction, by syllogism, by contradiction, by identity, and by antinomy. Oh! monsieur Proudhon, you must have been in quite a...
By Bastiat Institute10
Bastiat Debates Proudhon: 15. Defense of Paper Money
Proudhon gives his version of a recap of the conversation thus far, and proclaims that Bastiat's critiques of paper money have all been refuted by scientific fact. Translated by Benjamin Tucker. Monsieur Bastiat, your last letter justifies all my anticipations. I knew so well what it would [contain] that, even before I had received La Voix du Peuple of February 4, I had written three-fourths of the reply which you are now to read, and to which I have only to add the finishing touches. You are sincere, Monsieur Bastiat; on that [point] you leave no room for doubt;...
By Bastiat Institute20
Bastiat Debates Proudhon: 14. Critique of Paper Money
Bastiat equates Proudhon's plan for free credit as no different than the paper money schemes which had previously destroyed the French economy. Translated by Benjamin Tucker. Sir, you have rendered a signal service to society. Hitherto Gratuity of Credit has hidden itself within the clouds of philosophy, metaphysics, economy, antinomy, and history. By submitting it to the simple test of the account-book you have driven it down from those vague regions; you have stripped it bare before all eyes; everybody can recognize it: it is Paper Money. To multiply and equalize the wealth of the earth by showering paper...
By Bastiat Institute10
Bastiat Debates Proudhon: 13. What is Capital?
Proudhon explores the nature of capital and claims that profit is illegitimate, attacking Bastiat's positions. Sir, you have not deceived me; of this the spirit of honesty and extreme sincerity which shines through every line of your last letter is sufficient evidence. Therefore it is with the most heartfelt joy that I retract my words. But neither have I deceived you; I have not failed, as you charge, in my duty of hospitality. All your letters, according to my promise, have been religiously inserted in La Voix du Peuple without reserve, without reflection, without comment. For my part, I...
By Bastiat Institute10
Bastiat Debates Proudhon: 12. Freedom of Credit
Bastiat brings the issues of freedom and interest together, arguing that freedom of credit does not mean free/gratuitous credit. Translated by Benjamin Tucker. Sir, you say I have deceived you; no, I have been deceived. Admitted under your roof, to your fireside, here to discuss, surrounded by your own friends, a weighty question, I was at least entitled to believe that, if my arguments fell before your criticism, my person would be held sacred. You neglect my arguments, and characterize my person. – I have been deceived. Writing in your journal, addressing myself to your readers, it was my...
By Bastiat Institute10
Bastiat Debates Proudhon: 11. How to Abolish Interest
Proudhon lays some heavy insults on Bastiat, then lays out in full his scheme for the abolition of interest.
By Bastiat Institute20
Bastiat Debates Proudhon: 10. Free Credit
Bastiat makes a case that abolishing interest and granting free credit as Proudhon wants is nonsensical. Translated by Benjamin Tucker. Is Gratuity of Credit possible? Is Gratuity of Credit impossible? It is clear that to answer one of these questions is to answer the other. You accuse me of lacking in charity, because I persist in discussing the second. This is my motive: – An inquiry into the possibility of Gratuity of Credit would have drawn me into a discussion of the Bank of the People, the Tax upon Capital, the National Workshops, the Organization of Labor, and, in...
By Bastiat Institute10
Bastiat Debates Proudhon: 9. Usury!
Proudhon explores the theory of exorbitant interest, and replies to Bastiat's hypothetical situations with his own.
By Bastiat Institute10
Bastiat Debates Proudhon: 8. What’s Wrong with Interest?
Bastiat challenges Proudhon's very understanding of credit.
By Bastiat Institute10
Bastiat Debates Proudhon: 7. What’s Wrong with Socialism?
Proudhon's second letter is a challenge to Bastiat. He asks what is wrong with the socialist system he proposes: A democratically run bank that issues interest-free credit, and a single tax on all capital.
By Bastiat Institute00
Bastiat Debates Proudhon: 6. Is Interest on Capital Legitimate?
The flame war really heats up as Bastiat retaliates with a rejoinder to Proudhon.
By Bastiat Institute00
Bastiat Debates Proudhon: 5. Proudhon Attacks Bastiat
Proudhon enters the melee with both fists swinging. Translated by Benjamin Tucker. The object of the Revolution of February, politically and economically, is the realization of absolute liberty for the man and the citizen. The formula of this Revolution, in the political sphere, is the organization of Universal Suffrage, or the absorption of the State in Society; in the economic sphere it is the organization of circulation and credit, or the absorption of the function of the Capitalist in that of the Laborer. Undoubtedly this formula alone does not convey a complete idea of the movement: it is only...
By Bastiat Institute00
Bastiat Debates Proudhon: 4. Letter to the Editor
Bastiat responds in a letter to the editor of Voix du Pueple. Proudhon writes a short introduction to Bastiat's response when it is published. The two prize fighters touch gloves for the first time. Translated by Benjamin Tucker. PROUDHON: We publish to-day a first article by M. Frederic Bastiat, a representative of the people, and one of the most distinguished economists of our country, upon the great question of the day, Interest or Rent of capital. We do for M. Bastiat, we will do for any serious economist who will honor us with his criticisms, a thing hitherto unknown...
By Bastiat Institute10
Bastiat’s Debate with Proudhon: 3. Voix du Peuple
Chevé, an editor of the magazine Voix du Peuple, responds to Bastiat's direct attack on that magazine's philosophy, beginning a flame war that will later include Proudhon.
By Bastiat Institute10
Bastiat’s Debate with Proudhon: 2. Cursed Money!
In his essay "Cursed Money!", Bastiat explores the theory of money. This essay will later be targeted by Proudhon in their debate on interest, and it is essential reading in this debate.
By Bastiat Institute00
The Soul of Liberty — Theaters and Fine Arts
When a person decides to attend a concert, play, or some other artistic spectacle, it is by choice; and the artist hosting it understands this and does their utmost to entertain the person in order to keep them coming back for more. Art is built upon industry. Industry generates wealth and the arts thrive on it. The artists are not generally parasitical, as long as their audience isn't made captive through government subsidy. Why then is it the government's job to provide this trade with an "endowment" made up of money that has unseen and unacknowledged origins? Some say, "for...
By Bastiat Institute20
The Soul of Liberty — Taxes
That Which is Seen, and That Which is Not Seen by Frédéric Bastiat ∇ Foreword by Josh Holden Proposing a world sans taxation is almost as well received today as it was in Bastiat’s time – and by that I mean, not so well at all. Now, like then, many hold fast to the notion of the “impossibility” of a prosperous, peaceful, and humane society without an uninhibited, unquestioned forced transfer of wealth. And why does this belief persist? It cannot be for some lack of imagination on the part of the masses, for it takes a great...
By Bastiat Institute30
The Soul of Liberty — The Demobilization
That Which is Seen, and That Which is Not Seen by Frédéric Bastiat ∇ Foreword by Josh Holden "Defense" spending by the US government exceeds the collective military expenditures of eight other nations, including superpowers like China.The cost to maintain such a force, even when setting aside the price of blowback from the same, is truly staggering. When every consequence is considered–it’s horrifying. But this much is obvious. The hidden costs, however, are incalculable. In the next feature of our series, Bastiat explains why. The Demobilization A nation is in the same case as a man. When...
By Bastiat Institute140
The Thinker Who Carried the Revolution
Introduction to Bastiat's Social Harmonies by Rose Wilder Lane Special thanks to David Hart Frederic Bastiat is one of the leaders of the revolution whose work and fame, like Aristotle's, belong to the ages. Aristotle, too, was a pioneer in an unexplored continent of human knowledge; he did little more than blaze two trees where the Wilderness Road began; he showed the way to a new world that he did not reach. What modern science owes to Aristotle, a free world will someday owe to Bastiat. He was born in Bayonne on June 29, 1801, when France was rocking under...
By Bastiat Institute270
Bastiat’s Debate with Proudhon: 1. Capital and Rent
The year is 1849. In one corner is Pierre-Joseph Proudhon, founding father of socialist anarchism. In the other corner is Frédéric Bastiat, representing the intellectual high water mark of 19th century classical liberalism.
By Bastiat Institute30
The Soul of Liberty – The Broken Window
That Which is Seen, and That Which is Not Seen by Frédéric Bastiat 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. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause - it is seen. The others unfold in succession - they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference - the one takes account of the visible effect; the...
By Bastiat Institute120
New Bastiat Series – The Soul of Liberty
“Bastiat was indeed a lucid and superb writer, whose brilliant and witty essays and fables to this day are remarkable and devastating demolitions of protectionism and of all forms of government subsidy and control. He was a truly scintillating advocate of an untrammeled free market.” ~ Murray Rothbard Frederic Bastiat was born in the south of France on June 30, 1801. It was during the Napoleonic Wars that he awoke to a world wrought with strife and terror at the coming of a new age. In his youth he saw the loss of both his mother and father. He then...
By Bastiat Institute151
ANNOUNCING: The Bastiat Institute on Liberty.me!
The Bastiat Institute is proud to announce the launch of our new Liberty.me publishing site. We promote free-market economics in all its forms through our network, which includes over 100,000 social media "likes" and "follows" from the US, Brazil, Vietnam, and dozens of other countries. Our focus on Liberty.me will be to publish Bastiat works and material relevant to the tradition, as well as insightful commentary by leading Austrian economists. We'll also be working with Liberty.me to release the Bastiat Collection, a series of 25 classic works that will feature original forwards. The Institute was recently joined by acclaimed economist Robert Murphy and...
By Bastiat Institute 413