Frederic Bastiat (1801–1850) was a French economist and writer known for his staunch advocacy of Free Markets and Limited Government intervention. His influential works, such as "The Law" and "Economic Sophisms," argued against protectionism and for Individual liberties. Bastiat's concept of "Opportunity Cost" and his "broken window Fallacy" serve as foundational principles in classical liberal Economics. His writings continue to be celebrated for their clarity and relevance in Contemporary economic discourse.
Anecdotes
- Organized a satirical Government petition demanding compensation for sunlight, highlighting the Absurdity of protectionist laws.
- Hosted "The Utopian Socialists' Banquet," a satirical event mocking socialist theories by pretending to explore their practical applications in daily Life.
- Conducted an Experiment where he raised a "candle tax" to mock protective tariffs, illustrating how economic policies could absurdly favor specific industries.
Magnitudes
- Champion the unseen benefits of Economic freedom.
- Challenge assumptions to discover hidden truths.
- Challenge assumptions; question popular economic beliefs.
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