Wednesday, May 30, 2007

Economist of the Day: Frédéric Bastiat

Who was Bastiat?

Journalist, economist and wit, Frederic Bastiat was a French free-trade activist, author of the famous "Petition of the Candlemakers" and numerous other satirical pieces that have since become classics of economic commentary. His 1850 magnum, Economic Harmonies opus perhaps reflects his optimistic laissez-faire position best - in which he envisions the economic classes in a capitalist system, far from being at war, as being in "harmony".

He is also the man who developed the idea of the fallacy of the broken window.

Here is a website with many great links to more info about Bastiat and his works:

Most well-known works:

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