Frederic Bastiat

Frédéric Bastiat was a French economist, writer and a prominent member of the French Liberal School. He was born on June 30, 1801 in Bayonne, a port town in the south of France. His father, Pierre Bastiat, was a wealthy merchant and his mother, Marie-Jeanne Monclar, died when he was seven years old. He was raised by his paternal grandfather and aunt in Mugron, where he received his education. Bastiat developed an interest in economics and politics at an early age. He read the works of Adam Smith, Jean-Baptiste Say, David Ricardo and other classical economists. He also admired the British political system and the free trade movement led by Richard Cobden and John Bright. He became a vocal critic of protectionism, socialism and government intervention in the economy. He wrote numerous articles, pamphlets and books to expose the fallacies of these doctrines and to defend the principles of liberty, property and justice. Bastiat is best known for his witty and persuasive style of writing, which used clear logic, vivid examples and humorous anecdotes to illustrate his arguments. He often employed the method of reductio ad absurdum to show the absurd consequences of his opponents' views. He also coined the term "legal plunder" to describe the process by which the state takes from some people what belongs to them and gives it to others who do not have a right to it. He argued that legal plunder was the root cause of social problems and that the only legitimate function of the state was to protect the natural rights of individuals. Bastiat's most famous works include The Law (1850), Economic Sophisms (1845-1848) and Economic Harmonies (1850). In The Law, he explained the concept of natural law and its relation to human law. He argued that human law should conform to natural law, which is based on justice and utility. He denounced any law that violates the rights of individuals or permits legal plunder as illegitimate and immoral. In Economic Sophisms, he exposed the errors and fallacies of protectionism and other forms of economic interventionism. He used simple examples, such as the parable of the broken window, to show how these policies harm the general welfare and benefit only a few special interests. In Economic Harmonies, he presented his positive vision of a free market economy based on voluntary exchange, cooperation and harmony among individuals. Bastiat was also active in politics and public affairs. He founded the Association for Free Trade in 1846 and edited its journal, Le Libre-Échange (Free Trade). He participated in the Revolution of 1848 and was elected to the Constituent Assembly and later to the Legislative Assembly. He opposed the rise of socialism and communism, which he identified with protectionism and legal plunder. He defended the rights of workers, peasants and minorities against oppression and exploitation. He advocated for free trade, free banking, free speech, free press, free education and peace. Bastiat died of tuberculosis on December 24, 1850 in Rome, where he had gone for treatment. He was buried at San Luigi dei Francesi, a church for French nationals in Rome. His legacy as an economist, writer and champion of liberty has inspired generations of thinkers and activists around the world.