Originally published in June of 1850, this book which is now more than one-hundred fifty years old is still one of the most popular books published. The author, Frederic Bastiat was a statesman and French economost. At the time of this writing, French was quickly becoming a socialist state. This work by Mr. Bastiat studies, explains and critiques each socialist policy which he witnessed in his role in the French legislative assembly. This text is a valid read today as these socialistic beliefs are still used in the modern French government and the United States of America. This text should be a required reading for those who study political science, civics, government and law or those who are employed in government.
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Meet the Author
Frederic Bastiat was born in Bayonne, Aquitaine, France. When he was nine years old, he was orphaned and became a ward of his father's parents. At age seventeen he left school to become more involved with his family's business as an exporter. Economist Thomas DiLorenzo suggests that this family business experience was crucial to Bastiat's later work because it allowed young Frédéric to acquire first-hand knowledge of some of the effects of trade regulations on the market. Sheldon Richman notes that "he came of age during the Napoleonic wars, with their extensive government intervention in economic affairs."
When Bastiat was twenty-five, his grandfather and benefactor died, leaving the young man the family estate and providing him with the means to further his own theoretical inquiries. His areas of intellectual interest were diverse, including "philosophy, history, politics, religion, travel, poetry, political economy, [and] biography."
His public career as an economist began only in 1844, and was cut short by his untimely death in 1850. Bastiat had contracted tuberculosis, probably during his tours throughout France to promote his ideas, and that illness eventually prevented him from making further speeches (particularly at the legislative assembly to which he was elected in 1848 and 1849) and took his life. Bastiat died in Rome on 24 December 1850.