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Frederic Bastiat was a French political economist, statesman, classical liberal theorist, and the French Assembly. He coined the important economic concept of opportunity cost. His ideas have become the foundation for libertarian and the Austrian schools of thought.
Most of Bastiat�s political writings were done during the years just before and immediately after the Revolution of February 1848 when France was rapidly turning to complete socialism. As a Deputy to the Legislative Assembly, Bastiat explained each socialist fallacy as it appeared and how socialism must inevitably degenerate into communism that it must fail.
In this essay through the chapter the broken window, Mr. Bastiat introduced the important economic concept of opportunity cost in all that is popular in our daily life.
The Essay is already read more than a hundred years and it will still be read for another century due to its truths.
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