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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.

Frederic Bastiat

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Frederic Bastiat
Age: 49 †
Born: 1801
Born: June 30
Died: 1850
Died: December 24
Economist
Essayist
Magistrate
Philosopher
Politician
Baiona
Claude Frédéric Bastiat
Effect
Effects
Difference
Foreseen
Differences
Confines
Takes
Economist
Seen
Account
Must
Visible
Good
Accounts

More quotes by Frederic Bastiat

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Taking Five and Returning Four is not Giving
Frederic Bastiat
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If everyone enjoyed the unrestricted use of his faculties and the free disposition of the fruits of his labor, social progress would be ceaseless, uninterrupted, and unfailing.
Frederic Bastiat
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Property, the right to enjoy the fruits of one's labor, the right to work, to develop, to exercise one's faculties, according to one's own understanding, without the state intervening otherwise than by its protective action this is what is meant by liberty
Frederic Bastiat
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When goods do not cross borders, soldiers will.
Frederic Bastiat
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...the statement, The purpose of the law is to cause justice to reign, is not a rigorously accurate statement. It ought to be stated that the purpose of the law is to prevent injustice from reigning. In fact, it is injustice, instead of justice, that has an existence of its own. Justice is achieved only when injustice is absent.
Frederic Bastiat
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The impulses of my heart are the voice of Nature, which is never mistaken. The institutions that stand in my way are man-made and are only arbitrary conventions to which I have never given my consent. In trampling these institutions underfoot, I shall have the double pleasure of satisfying my inclinations and of believing myself a hero
Frederic Bastiat
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Treat all economic questions from the viewpoint of the consumer, for the interests of the consumer are the interests of the human race.
Frederic Bastiat
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Since no individual acting separately can lawfully use force to destroy the rights of others, does it not logically follow that the same principle also applies to the common force that is nothing more than the organized combination of the individual forces?
Frederic Bastiat
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There are people who think that plunder loses all its immorality as soon as it becomes legal. Personally, I cannot imagine a more alarming situation.
Frederic Bastiat
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Finally, is not liberty the restricting of the law only to its rational sphere of organizing the right of the individual to lawful self-defense of punishing injustice?
Frederic Bastiat
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Liberty is an acknowledgement of faith in God and his works.
Frederic Bastiat
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When law and morality contradict each other, the citizen has the cruel alternative of either losing his moral sense or losing his respect for the law.
Frederic Bastiat
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The mind never fully accepts any convictions that it does not owe to its own efforts.
Frederic Bastiat
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And this is what has taken place. The delusion of the day is to enrich all classes at the expense of each other it is to generalize plunder under pretense of organizing it.
Frederic Bastiat
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The mission of law is not to oppress persons and plunder them of their property, even thought the law may be acting in a philanthropic spirit. Its mission is to protect property.
Frederic Bastiat
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The state tends to expand in proportion to its means of existence and to live beyond its means, and these are, in the last analysis, nothing but the substance of the people. Woe to the people that cannot limit the sphere of action of the state! Freedom, private enterprise, wealth, happiness, independence, personal dignity, all vanish.
Frederic Bastiat
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It is easy to understand why the law is used by the legislator to destroy in varying degrees among the rest of the people, their personal independence by slavery, their liberty by oppression, and their property by plunder. This is done for the benefit of the person who makes the law, and in proportion to the power that he holds.
Frederic Bastiat
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The law commit legal plunder by violating liberty and property.
Frederic Bastiat
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If you wish to prosper, let your customer prosper. When people have learned this lesson, everyone will seek his individual welfare in the general welfare. Then jealousies between man and man, city and city, province and province, nation and nation, will no longer trouble the world.
Frederic Bastiat
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It is not true that the legislator has absolute power over our persons and property. The existence of persons and property preceded the existence of the legislator, and his function is only to guarantee their safety.
Frederic Bastiat