Economic Harmonies

Economic Harmonies

By:

Frédéric Bastiat

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Summary

The book has an active table of contents for easy access to each chapter of the following titles:
1.Harmonies of Political Economy
2.The Life of Frederic Bastiat

Frederic Bastiat was a French political economist, statesman, classical liberal theorist, and the French Assembly. He coined the important economic concept of opportunity cost. His ideas have become the foundation for libertarian and the Austrian schools of thought.

Most of Bastiat’s political writings were done during the years just before and immediately after the Revolution of February 1848 when France was rapidly turning to complete socialism. As a Deputy to the Legislative Assembly, Bastiat explained each socialist fallacy as it appeared and how socialism must inevitably degenerate into communism that it must fail.

Bastiat was not only firm support of free trade but also a deep thinker of democratic system from the perspectives of economics, politics, law, and free trade. American political system is strongly influenced by his ideology. His concepts of free trade and self-responsibility of individual influenced Rousseau and Voltaire along with many other Enlightenment scholars and American Revolutionaries.

In the book, Harmonies of Political Economy, Mr. Bastiat explained an inspiring exposition of the natural harmony that results when people are free to pursue their individual interests.

He argued in the book that all mankind could live in peace and prosperity if violence or the threat of violence is reserved exclusively for the maintenance of a free market by the state in which goods and services are voluntarily exchanged without coercion from any empowered plunders. He also refuted the contrary doctrine which is the basis today for some men or socialistic countries being empowered to allocate, by force, human capital and material resources to benefit plunders at the expenses of individual persons.

Using His exceptional intellectual and creative power, Bastiat stood alone in his criticism about the consequences of 19th century socialism. His achievements have gained worldwide recognition and have influenced economists and society in the institutions of law, government, money, and capital.

Bastiat’s reasoning still remains as relevant today as it was then. This book is one of the most important ones about the deepest thoughts of the free trade and by Frederic Bastiat, one of the greatest thinkers of political economics on the planet.
The book is already read more than a hundred years and it will still be read for another century due to its truths.

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