Bastiat as an Economist

Takes exception with descriptions of Frederic Bastiat (1801-1850) as a third-rate theorist to argue that he was both a fine economist & a good political scientist. Consideration is given to Bastiat's ideas about method, the economic order, law, distribution, value, & money. He believed...

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Bibliographic Details
Published in:The independent review (Oakland, Calif.) Calif.), 2011-01, Vol.15 (3), p.421-445
Main Authors: Braun, Carlos Rodríguez, Blanco, María
Format: Article
Language:English
Subjects:
Analysis
Bastiat, Frederic
Beliefs, opinions and attitudes
Classical economics
Economic rent
Economics
Economists
Ethics
Evaluation
Land economics
Law
Libertarianism
Philanthropy
Political Economy
PREDECESSORS
Prediction
Privacy rights
Private property
Property rights
Services
Socialism
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Summary:Takes exception with descriptions of Frederic Bastiat (1801-1850) as a third-rate theorist to argue that he was both a fine economist & a good political scientist. Consideration is given to Bastiat's ideas about method, the economic order, law, distribution, value, & money. He believed in the existence of universal laws in political economy & the importance of method in economics. The compatibility of Bastiat's thinking with libertarianism is explored, along with his emphasis on harmony between economics, politics, & ethics even though he acknowledged that human interests can sometimes be based on evil. Other matters considered include Bastiat's meaning of harmony in relation to the law & the market; his aversion to excessive government spending; his description of value as "in service" (human actions carried out for others); & his theory that legitimacy is arrived at from the exchange of services, not labor. Bastiat's view of economics as the science of activity/reciprocal services & his predictions that have come to pass are discussed. J. Lindroth
ISSN:1086-1653
2169-3420