Frédéric Bastiat, Speech on “Disarmament, Taxes, and the Influence of Political Economy on the Peace Movement” (1849)

Frédéric Bastiat, Speech on “Disarmament, Taxes, and the Influence of Political Economy on the Peace Movement”, in Report of the proceedings of the second general Peace Congress, held in Paris on the 22nd, 23rd and 24th of august 1849, London, 1849, p. 49-52 M. Frederic Bastiat, member of the French National Assembly, spoke as follows:— Gentlemen, our excellent and learned colleague, M. Coquerel, spoke to us a little while since, of a cruel malady with which French society is afflicted, namely, skepticism. This malady is the fruit of our long dissensions, of our revolutions which have failed to bring about […]

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Frédéric Bastiat, A Petition From the Manufacturers of Candles (1845)

A Petition From the Manufacturers of Candles, inserted in the Sophismes économiques (1845). A Petition From the Manufacturers of Candles, Tapers, Lanterns, sticks, Street Lamps, Snuffers, and Extinguishers, and from Producers of Tallow, Oil, Resin, Alcohol, and Generally of Everything Connected with Lighting. To the Honourable Members of the Chamber of Deputies. Open letter to the French Parliament, originally published in 1845. Gentlemen: You are on the right track. You reject abstract theories and have little regard for abundance and low prices. You concern yourselves mainly with the fate of the producer. You wish to free him from foreign competition, […]

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Frédéric Bastiat, That Which is Seen, and That Which is Not Seen (1850)

In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause – it is seen. The others unfold in succession – they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference – the one takes account of the visible effect; the other takes account both of the effects which are seen, and also of those which it is necessary to foresee. Now this difference is enormous, for it almost always happens that when the immediate consequence is favourable, the ultimate consequences are fatal, and the converse. Hence it follows that the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come, – at the risk of a small present evil.

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Material on the French school of political economy

Pierre de Boisguilbert (1646-1714) Hazel Van Dyke Roberts, Boisguilbert: economist of the reign of Louis XIV, New York, Columbia University Press, 1935 “Boisguilbert: An Early French Economist“, 1873, Westminster Review Vauban (1633-1707) A Project for a Royal Tythe, or General Tax, which by suppressing all the ancient funds and later projects for raising the public revenues, and for ever abolishing all exemptions, unequal assessments, and all rigours and oppressive distraining of people, will furnish the government a fixt and certain revenue, sufficient for all its exigencies and occasions, without oppressing the subjects, London, 1708 (see also the 1710 edition)  Richard […]

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