Frédéric Bastiat (1801-1850) was a French economist and writer who was a prominent member of the French Liberal School. Bastiat developed the economic concept of opportunity cost and introduced the parable of the broken window. As an advocate of classical economics and the economics of Adam Smith, Bastiat's views favored a free market and influenced the Austrian School. He authored The Law and Essays on Political Economy, among others works.
How does it happen that in the eyes of workmen, of publicists, and statesmen, abundance should appear a thing to be dreaded, and scarcity advantageous? I propose to trace this illusion to its source... Which is best...
