| Frédéric Bastiat |
|Died||24 December 1850 (Age 49)|
Rome, Papal States
Cause of death
French economist "When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."
Frédéric Bastiat was a French economist. He was the author of many works on economics and political economy, generally characterized by their clear organization, forceful argumentation and acerbic wit.
A member of the French National Assembly, Bastiat developed the economic concept of opportunity cost and introduced the parable of the broken window. He was described as “the most brilliant economic journalist who ever lived” by economic theorist Joseph Schumpeter.
As an advocate of classical economics and the economics of Adam Smith, his views favored a free market and influenced the Austrian School. He is best known for his book The Law where he argued that law must protect rights such as private property, not "plunder" others' property.
Today, Frédéric Bastiat is particularly valued in the Anglo-American world, In the 1970s, the current of neoliberalism made references to parts of Bastiat's thoughts. Margaret Thatcher praised Bastiat as her favorite economist on a trip to France.
Quotes by Frédéric Bastiat
|Kleptocracy||“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”|
|Nation state||“The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else.”||1849||L'Etat|
- ↑ Initiated in 1820 at "La Zélée" lodge in Bayonne (La Franc-maçonnerie à Bayonne, 1980).
- ↑ http://www.britannica.com/EBchecked/topic/55610/Frederic-Bastiat
- ↑ Thornton, Mark (11 April 2011) "Why Bastiat Is Still Great". Mises Institute. Retrieved 1 August 2019.
- ↑ http://diepresse.com/home/zeitgeschichte/5128866/Der-Zorn-der-Kerzenmacher-auf-die-Sonne