By reductio ad absurdum, Bastiat argued that the national trade deficit was an indicator of a successful economy, rather than a failing one.

Claude Frédéric Bastiat (; 30 June 180124 December 1850 ) was a French classical liberal theorist, political economist, and member of the French assembly.

His father, Pierre Bastiat, was a prominent businessman in the town.

He was taken in by his paternal grandfather and his maiden aunt, Justine Bastiat.

The next year, when Bastiat was 24, his grandfather died, leaving the young man the family estate, thereby providing him with the means to further his theoretical inquiries.

" " After the middle-class Revolution of 1830, Bastiat became politically active and was elected justice of the peace of Mugron in 1831 and to the Council General ( county-level assembly ) of Landes in 1832.

Bastiat had contracted tuberculosis, probably during his tours throughout France to promote his ideas, and that illness eventually prevented him from making further speeches ( particularly at the legislative assembly to which he was elected in 1848 and 1849 ) and took his life.

Bastiat was the author of many works on economics and political economy, generally characterized by their clear organization, forceful argumentation, and acerbic wit.

Economist Murray Rothbard wrote that " Bastiat was indeed a lucid and superb writer, whose brilliant and witty essays and fables to this day are remarkable and devastating demolitions of protectionism and of all forms of government subsidy and control.

Gustave de Molinari ( 3 March 1819 – 28 January 1912 ) was an economist born in Belgium associated with French laissez-faire liberal economists such as Frédéric Bastiat and Hippolyte Castille.

It was also described in 1848 by Frédéric Bastiat in his essay " What Is Seen and What Is Not Seen ".

The parable of the broken window was introduced by Frédéric Bastiat in his 1850 essay ( That Which Is Seen and That Which Is Unseen ) to illustrate why destruction, and the money spent to recover from destruction, is actually not a net-benefit to society.

Bastiat himself argued against the claim that hiring men to be soldiers was inherently beneficial to the economy in the second chapter of That Which is Seen, and That Which is Not Seen, " The Disbanding of Troops ":

In addition to Friedrich Hayek, who was one of Salin's intellectual mentors, Salin has been influenced by the works of Frédéric Bastiat, Israel Kirzner, Ludwig von Mises, Murray Rothbard, and Jean-Baptiste Say.

In 2009, Hannan was awarded the Bastiat Prize for Online Journalism for his Telegraph blog.

Based on a parable by the 19th-century French economist Frédéric Bastiat, it points out that if a person broke a grocer's window then some people could argue that it was a benefit to the town, as it would provide a job for a glazier, who would then buy more from the tailor and so on.

The Law ( 1850 ), by Frédéric Bastiat, was influenced by John Locke's Second Treatise on Government and in turn influenced Henry Hazlitt's Economics in One Lesson.

IPN ’ s Bastiat Prize for Journalism was founded in 2002.

This scheme was vehemently objected to by others in the legislature, including Frédéric Bastiat ; the reason given for the income tax's rejection was that it would result in economic ruin and that it violated " the right of property.

Raico was also a founding member of the Circle Bastiat, and was considered its poet laureate.

* Leroux, Robert ( 2011 ), Political Economy and Liberalism in France: The Contributions of Frédéric Bastiat, London, Routledge.

Bastiat wrote the work while living in England to advise the shapers of the French Republic on pitfalls to avoid.

Frédéric Bastiat argues that idleness is the result of people focusing on the pleasant immediate effects of their actions rather than potentially negative long-term consequences.

He has commissioned translation into Middle Eastern languages ( Arabic, Kurdish, Persian, and Azeri ) and publication of works by Frederic Bastiat, F. A. Hayek, James Madison, and other libertarian influences, and has published essays in Middle Eastern languages on such topics as " Challenges of Democratization " and " Religion and the Law.

Fellow Austrian Joseph Salerno praised Sennholz as an under-appreciated member of the Austrian school who " writes so clearly on such a broad range of topics that he is in danger of suffering the same fate as Say and Bastiat.

Among the other articles in the volume the more important are the criticisms on Frédéric Bastiat and Auguste Comte, and the essays on Political Economy and Land, and on Political Economy and Laissez-Faire, which have been referred to above.

* June 30 – Frederic Bastiat, French philosopher ( d. 1850 )

* Frédéric Bastiat ( 1801 – 1850 ), classical-liberal author and political economist

* December 24 – Frédéric Bastiat French author and economist ( b. 1801 )

* Frédéric Bastiat ( 1801 – 1850 )

The 19th century economist and philosopher Frédéric Bastiat expressed the idea that trade deficits actually were a manifestation of profit, rather than a loss.

Bastiat predicted that a successful, growing economy would result in greater trade deficits, and an unsuccessful, shrinking economy would result in lower trade deficits.

The graph indicates that, as Frédéric Bastiat predicted, the deficit slackened during recessions and grew during periods of expansion.

Classical liberals generally opposed colonialism ( as opposed to colonization ) and imperialism, including Adam Smith, Frédéric Bastiat, Richard Cobden, John Bright, Henry Richard, Herbert Spencer, H. R. Fox Bourne, Edward Morel, Josephine Butler, W. J.

The Bastiat estate in Mugron had been acquired during the French Revolution and had previously belonged to the Marquis of Poyanne.

Pierre Bastiat died in 1810, leaving Frédéric an orphan.

Bastiat began to develop an intellectual interest.

Bastiat accompanied him and took care of him.

Bastiat developed intellectual interests in several areas including " philosophy, history, politics, religion, travel, poetry, political economy and biography.

On 24 December 1850, Bastiat called those with him to approach his bed.

" On the other hand, Bastiat himself declared that subsidy should be available, but limited: " under extraordinary circumstances, for urgent cases, the State should set aside some resources to assist certain unfortunate people, to help them adjust to changing conditions.