Claude Frédéric Bastiat ( 30 June 1801 – 24 December 1850) was a French classical liberal theorist, political economist, and member of the French assembly. He was notable for developing the important economic concept of opportunity cost, and for penning the influential Parable of the Broken Window
The Law by Frederic Bastiatby Frederic Bastiat
Frédéric Bastiat (1801-1850) was a
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When a reviewer wishes to give special recognition to a book, he predicts that it will still be read "a hundred years from now." The Law, first published as a pamphlet in June, 1850, is already more than a hundred years old. And because its truths are eternal, it will still be read when another century has passed.
Frédéric Bastiat (1801-1850) was a French economist, statesman, and author. He did most of his writing during the years just before—and immediately following—the Revolution of February 1848. This was the period when France was rapidly turning to complete socialism. As a Deputy to the Legislative Assembly, Mr. Bastiat was studying and explaining each socialist fallacy as it appeared. And he explained how socialism must inevitably degenerate into communism. But most of his countrymen chose to ignore his logic.
The Law is here presented again because the same situation that existed in the France of 1848, exists in practically every country today. The same socialist-communist ideas and plans that were then adopted in France are now sweeping the world. The explanations and arguments then advanced against socialism by Mr. Bastiat are—word for word—equally valid today. His ideas deserve a serious hearing.
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