Tags » Frédéric Bastiat

Govt Fixing Steel Prices: Is Make in India Just a Slogan?


On February 5, 2016, the directorate general of foreign trade imposed a minimum import price(MIP) on 173 steel products. The prices range from $352 per tonne to $752 per tonne of steel. 1,251 more words

Equitymaster
  • “When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.” ~Frederic Bastiat (1801-1850)
Frederic Bastiat

Broken Windows, the Government, and the Economy

Frederic Bastiat, a 19th century French thinker, gave us a number of enduring ideas including the “broken window fallacy.” His idea went like this:

When the shopkeeper’s son accidently breaks a window, bystanders assure the shopkeeper that it is a good thing, since the glazier will profit, money will circulate, and everyone will be better off. 357 more words

Mark Leibman

Classical Liberalism

    What is classical liberalism?  What is it all about?  Does it mean anything today?  Classical liberalism is one of those things like republicanism and libertarianism; a philosophy, worldview, or belief.   567 more words

Essays

Of Jaitley, Fiscal Deficit and a 19th Century French Economist


Lawyers who become politicians are extremely eloquent speakers. But do they ‘really’ mean what they say? Or is it just something that sounds good at a given point of time, like a film dialogue? 1,325 more words

Equitymaster

Forseen Effect

“There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen, and those effects that must be foreseen.” -Frédéric Bastiat

Economics
  • “The worst thing that can happen to a good cause is not to be skillfully attacked, but to be ineptly defended.” ~Frederic Bastiat (1801-1850)
Frederic Bastiat