By Frédéric Bastiat
Frédéric Bastiat (1801-1850) was a French economist, statesman, and author. He was the leader of the free-trade movement in France from its inception in 1840 until his untimely death in 1850. The first 45 years of his life were spent in preparation for five tremendously productive years writing in favor of freedom. Bastiat was the founder of the weekly newspaper
Le Libre Échange, a contributor to numerous periodicals, and the author of sundry pamphlets and speeches dealing with the pressing issues of his day. Most of his writing was done in the years directly before and after the Revolution of 1848—a time when France was rapidly embracing socialism. As a deputy in the Legislative Assembly, Bastiat fought valiantly for the private property order, but unfortunately the majority of his colleagues chose to ignore him. Frédéric Bastiat remains one of the great champions of freedom whose writings retain their relevance as we continue to confront the old adversary.
Arthur Goddard, trans., trans.
First Pub. Date
Irvington-on-Hudson, NY: The Foundation for Economic Education, Inc.
Introduction by Henry Hazlitt
The text of this edition is under copyright
- About the Author
- Preface to the English-Language Edition, by Arthur Goddard
- Introduction, by Henry Hazlitt
- S.1, Author's Introduction to the French Edition
- S.1, Ch.1, Abundance and Scarcity
- S.1, Ch.2, Obstacle and Cause
- S.1, Ch.3, Effort and Result
- S.1, Ch.4, Equalizing the Conditions of Production
- S.1, Ch.5, Our Products Are Burdened with Taxes
- S.1, Ch.6, The Balance of Trade
- S.1, Ch.7, A Petition
- S.1, Ch.8, Differential Tariffs
- S.1, Ch.9, An Immense Discovery
- S.1, Ch.10, Reciprocity
- S.1, Ch.11, Money Prices
- S.1, Ch.12, Does Protectionism Raise Wage Rates
- S.1, Ch.13, Theory and Practice
- S.1, Ch.14, Conflict of Principles
- S.1, Ch.15, Reciprocity Again
- S.1, Ch.16, Obstructed Rivers as Advocates for the Protectionists
- S.1, Ch.17, A Negative Railroad
- S.1, Ch.18, There Are No Absolute Principles
- S.1, Ch.19, National Independence
- S.1, Ch.20, Human vs. Mechanical Labor and Domestic vs. Foreign Labor
- S.1, Ch.21, Raw Materials
- S.1, Ch.22, Metaphors
- S.1, Ch.23, Conclusion
- S.2, Ch.1, The Physiology of Plunder
- S.2, Ch.2, Two Systems of Ethics
- S.2, Ch.3, The Two Hatchets
- S.2, Ch.4, Subordinate Labor Council
- S.2, Ch.5, High Prices and Low Prices
- S.2, Ch.6, To Artisans and Laborers
- S.2, Ch.7, A Chinese Tale
- S.2, Ch.8, Post Hoc, Ergo Propter Hoc
- S.2, Ch.9, Robbery by Subsidy
- S.2, Ch.10, The Tax Collector
- S.2, Ch.11, The Utopian
- S.2, Ch.12, Salt, the Postal Service, and the Tariff
- S.2, Ch.13, Protectionism, or the Three Aldermen
- S.2, Ch.14, Something Else
- S.2, Ch.15, The Little Arsenal of the Freetrader
- S.2, Ch.16, The Right Hand and the Left
- S.2, Ch.17, Domination through Industrial Superiority
First Series, Chapter 15
M. de Saint-Cricq inquires: “Are we sure that foreigners will buy from us as much as they sell to us?”
M. de Dombasle would like to know: “What reason have we to believe that English producers will look to our country, rather than to any other, for the products they may need, or that the value of what they import from us will equal that of their exports to us?”
I marvel how men who call themselves
practical above everything else can employ reasoning so completely divorced from all practice!
In practice, is there one exchange in a hundred, in a thousand, in possibly even ten thousand, that involves the direct barter of one product for another? Ever since there has been money in the world, has any farmer said to himself: “I wish to purchase shoes, hats, counsel, and lessons only from the shoemaker, the hatter, the lawyer, or the teacher who will buy my wheat from me for exactly the equivalent value”? Why, then, should nations impose such an inconvenience upon themselves?
How is business actually transacted?
Suppose that a nation does not trade with the rest of the world, and that one of its inhabitants has produced some wheat. He sells it in the
domestic market at the highest price he can get, and in exchange he receives …. what? Money, that is, warrants or drafts that are infinitely divisible, by means of which he may lawfully withdraw from the supply of domestic goods, whenever he deems it opportune, and subject to due competition, as much as he may need or want. Ultimately, at the end of the entire operation, he will have withdrawn from the total precisely the equivalent of what he put into it, and, in value,
his consumption will exactly equal his production.
If the exchanges of this nation with the outside world are free, it is no longer the
domestic market, but the
general or world market, to which each individual sends his products and from which each withdraws the means of satisfying his wants and needs. It is no concern of his whether what he sends to the market is purchased by a fellow countryman or by a foreigner; whether the money he receives comes to him from a Frenchman or an Englishman; whether the commodities for which he afterwards exchanges this money in order to satisfy his needs were produced on this or the other side of the Rhine or the Pyrenees. For each individual there is always an exact balance between what he puts into and what he withdraws from the great common reservoir; and if this is true of each individual, it is true of the nation as a whole.
The sole difference between the two cases is that in the latter each unit has a wider market in which to buy and sell, and it consequently has more opportunities for carrying on both operations advantageously.
But, it may be objected, if everyone agrees not to buy the products of a given individual when they are brought to market, he cannot, in his turn, buy anything from anyone else. The same is true of nations.
The reply to this is that, if a nation cannot buy anything from any other nation, it will no longer sell anything on the world market; it will work for itself. It will be forced in that case to submit to what you want to impose on it from the outset, i.e.,
And this will realize the ideal of the protectionist system.
Is it not ridiculous that you are now inflicting such a system upon the nation for fear that we might otherwise run the risk of coming to it some day without your interference?
De l’administration commerciale opposée a l’économie politique, page 5.—EDITOR.]*
every school, that is, all the men who have studied the question, have reached the conclusion that, after all, freedom is better than coercion, and the laws of God are wiser than those of Colbert?
First Series, Chapter 14
la méture, a rather rare dialect word. Maslin is a mixture of different kinds of grain, usually wheat and rye, or a bread baked from such a mixture. Biscay and Navarre are provinces of Spain just across the Pyrenees from France.—TRANSLATOR.]
infra, chaps. 18 and 20, and the letter to M. Thiers entitled “Protectionism and Communism,”
Selected Essays on Political Economy, chap. 7.—EDITOR.]
First Series, Chapter 16
Fourth Epistle of the French poet Nicolas Boileau-Despréaux (1636-1711).—TRANSLATOR.]
First Series, Chapter 17
Gare du chemin de fer de Paris à Bordeaux (Bordeaux: Durand, 1846), and subsequently representative of the Gironde in the Constituent Assembly.—TRANSLATOR.]
First Series, Chapter 18
Economic Harmonies, chap. 1—EDITOR.]*
First Series, Chapter 19
Economic Sophisms was written, and an opponent of France.—TRANSLATOR.]
Selected Essays on Political Economy, chap. 4. Cf. also the Introduction to “Cobden and the English League,” and the “Second Campaign of the League,” in Vol. II (of the French edition).—EDITOR.]
First Series, Chapter 20
First Series, Chapter 21
labor already performed; secondly, because under the general term
labor I include not only the wages of the workingman but also the legitimate recompense of all factors co-operating in the work of production; and thirdly, and above all, because the production of manufactured goods is, like that of raw materials, burdened with interest charges and costs other than those for
manual labor, so that the objection, in itself absurd, would apply to the most complicated spinning operation just as well as, and even better than, to the most primitive kind of agriculture.
First Series, Chapter 22
Pamphlet des pamphlets.—TRANSLATOR.]
La Recherche de la vérité.—TRANSLATOR.]
First Series, Chapter 23 Conclusion
“j’en passe, et des meilleurs,” a line from the famous and controversial play
Hernani, by Victor Hugo (1801-1885). It was spoken by the Spanish grandee, Don Ruy Gomez de Silva, as he exhibited the portraits of his ancestors.—TRANSLATOR.]
Economic Harmonies. Here again we find on the author’s part, a desire to undertake the writing of this last work at the first suitable opportunity.—EDITOR.]
The Would-Be Gentleman (Le Bourgeois gentilhomme), by J. B. P. Molière (1622-1673), M. Jourdain, a bourgeois being trained in the manners of gentlemen, had never realized that common speech could have the high-sounding name of “prose.”—TRANSLATOR.]
The Would-Be Gentleman, the fencing master assures M. Jourdain that dueling is not at all dangerous, for all M. Jourdain need do is hit his adversary and not be hit in return.—TRANSLATOR.]
Economic Sophisms, was to be taken up again and expanded by the author at the beginning of the second series. The impact of plunder upon the fate of man concerned him deeply. Having touched on this subject several times in
Economic Sophisms and
Selected Essays on Political Economy (cf., in particular, “Property and Plunder,” chap. 6, and “Plunder and Law,” chap. 8), he reserved a place for a lengthy discussion of it in the second part of
Economic Harmonies, among the “Disturbing Factors,” chap. 18. Final testimony of the importance that he attached to it was his statement on the eve of his death: “An important task for political economy is to write the history of plunder. It is a long history involving, from the very beginning, conquests, migrations of peoples, invasions, and all the disastrous excesses of violence at grips with justice. All this has left an aftermath that still continues to plague us and that renders it more difficult to solve the problems of the present day. We shall not solve them so long as we are unaware of the way, and of the extent to which, injustice, present in our very midst, has gained a foothold in our customs and laws.”—EDITOR.]