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Frédéric Bastiat

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description Frédéric Bastiat Overview

Frédéric Bastiat was a French economist, writer, and legislator who became a prominent advocate for classical liberalism and free trade during the 19th century. He is best known for his satirical essays and parables that communicated complex economic principles to general audiences, most notably the "broken window fallacy" found in his essay "That Which is Seen, and That Which is Not Seen." In his widely influential 1850 treatise "The Law," Bastiat articulated his philosophy of individual rights, private property, and limited government. He also played an active role in the French National Assembly and the broader European free-trade movement.

help Frédéric Bastiat FAQ

What is Frédéric Bastiat's most famous written work?

Frédéric Bastiat is best known for his satirical 1845 essay, 'The Candlestick Makers' Petition.' In the parable, candlemakers ask the government to block out the sun to protect their industry from unfair competition, mocking the logic of protectionist trade policies.

What economic concept is explained by Bastiat's 'Broken Window Fallacy'?

In his essay 'What Is Seen and What Is Not Seen,' Bastiat argues that destruction does not stimulate the economy. He explains that money spent fixing a broken window creates visible work for the glazier, but ignores the invisible losses of whatever else that money would have been spent on.

Did Frédéric Bastiat hold political office in France?

Yes, Bastiat was elected to the French National Assembly in 1848 following the French Revolution. During his brief time as a legislator, he passionately fought against socialist policies and protectionist tariffs.

What economic philosophy did Frédéric Bastiat advocate for?

Bastiat was a prominent advocate for classical liberalism and free trade during the 19th century. He believed that the free market should govern economic interactions and that government interventions often led to unintended negative consequences.

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