Frederic Bastiat was orphaned at the age of nine. At the age of 24, after he inherited his grandfather's estate, he quit working and spent much of his time reading up on economics. He was a strong proponent of free market economic systems. After learning about Richard Cobden's campaign against the British Corn Laws, he published a series of articles attacking protectionism. Bastiat also emphasized the "unseen" consequences of government policy, which has been further elaborated by economist, Friedrich August von Hayek.
Bastiat's satiric response to protectionism,"Economics, Sixth Edition":
" To the Chamber of Deputies: We are subjected to the intolorable competition of a foreign rival, who enjoys such superior facilities for the production of light that he can inundate our national market at reduced price. This rival is no other than the sun. Our petition is to pass a law shutting up all windows, openings, fissures through which the light of the sun is used to penetrate our dwellings, to the prejudice of the profitable manufacture we have been able to bestow on the country. Signed: Candle Makers."Works by Frederic Bastiat:
- Economic Sophisms
- Economic Harmonies
- Selected Essays on Political Economy
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