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Frédéric Bastiat
Claude-Frédéric Bastiat (; ; 30 June 1801 – 24 December 1850) was a French economist, writer and a prominent member of the French Liberal School. A member of the French National Assembly, Bastiat developed the economic concept of opportunity cost and introduced the parable of the broken window. He was described as "the most brilliant economic journalist who ever lived" by economic theorist Joseph Schumpeter. As an advocate of classical economics and the economics of Adam Smith, his views favored a free market and influenced the Austrian School. Thornton, Mark (11 April 2011"Why Bastiat Is Still Great" Mises Institute. Retrieved 1 August 2019. He is best known for his book '' The Law'' where he argued that law must protect rights such as private property, not "plunder" others' property. Biography Bastiat was born on 29 June 1801 in Bayonne, Aquitaine, a port town in the south of France on the Bay of Biscay. His father, Pierre Bastiat, was a prominent businessman ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Assembly (France)
The National Assembly (french: link=no, italics=set, Assemblée nationale; ) is the lower house of the bicameral French Parliament under the Fifth Republic, the upper house being the Senate (). The National Assembly's legislators are known as (), meaning "delegate" or "envoy" in English; etymologically, it is a cognate of the English word ''deputy'', which is the standard term for legislators in many parliamentary systems). There are 577 , each elected by a single-member constituency (at least one per department) through a two-round system; thus, 289 seats are required for a majority. The president of the National Assembly, Yaël Braun-Pivet, presides over the body. The officeholder is usually a member of the largest party represented, assisted by vice presidents from across the represented political spectrum. The National Assembly's term is five years; however, the President of France may dissolve the Assembly, thereby calling for new elections, unless it has be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Murray Rothbard
Murray Newton Rothbard (; March 2, 1926 – January 7, 1995) was an American economist of the Austrian School, economic historian, political theorist, and activist. Rothbard was a central figure in the 20th-century American libertarian movement and a founder and leading theoretician of anarcho-capitalism. He wrote over twenty books on political theory, history, economics, and other subjects. Rothbard argued that all services provided by the "monopoly system of the corporate state" could be provided more efficiently by the private sector and wrote that the state is "the organization of robbery systematized and writ large". He called fractional-reserve banking a form of fraud and opposed central banking. He categorically opposed all military, political, and economic interventionism in the affairs of other nations. According to his protégé Hans-Hermann Hoppe, " ere would be no anarcho-capitalist movement to speak of without Rothbard". Libertarian economist Jeffrey H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bay Of Biscay
The Bay of Biscay (), known in Spain as the Gulf of Biscay ( es, Golfo de Vizcaya, eu, Bizkaiko Golkoa), and in France and some border regions as the Gulf of Gascony (french: Golfe de Gascogne, oc, Golf de Gasconha, br, Pleg-mor Gwaskogn), is a gulf of the northeast Atlantic Ocean located south of the Celtic Sea. It lies along the western coast of France from Point Penmarc'h to the Spanish border, and the northern coast of Spain west to Cape Ortegal. The south area of the Bay of Biscay that washes over the northern coast of Spain is known locally as the Cantabrian Sea. The average depth is and the greatest depth is . Name The Bay of Biscay is named (for English speakers) after Biscay on the northern Spanish coast, probably standing for the western Basque districts (''Biscay'' up to the early 19th century). Its name in other languages is: * ast, Mar Cantábricu * eu, Bizkaiko golkoa * br, pleg-mor Gwaskogn * french: golfe de Gascogne (named after Gascony, France) * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aquitaine
Aquitaine ( , , ; oc, Aquitània ; eu, Akitania; Poitevin-Saintongeais: ''Aguiéne''), archaic Guyenne or Guienne ( oc, Guiana), is a historical region of southwestern France and a former administrative region of the country. Since 1 January 2016 it has been part of the region of Nouvelle-Aquitaine. It is situated in the southwest corner of Metropolitan France, along the Atlantic Ocean and the Pyrenees mountain range on the border with Spain, and for most of its written history Bordeaux has been a vital port and administrative center. It is composed of the five departments of Dordogne, Lot-et-Garonne, Pyrénées-Atlantiques, Landes and Gironde. Gallia Aquitania was established by the Romans in ancient times and in the Middle Ages, Aquitaine was a kingdom and a duchy, whose boundaries fluctuated considerably. History Ancient history There are traces of human settlement by prehistoric peoples, especially in the Périgord, but the earliest attested inhabitants in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Law (Bastiat Book)
''The Law'' (french: La Loi) is an 1850 book by Frédéric Bastiat. It was written at Mugron two years after the third French Revolution and a few months before his death of tuberculosis at age 49. The essay was influenced by John Locke's '' Second Treatise on Government'' and in turn influenced Henry Hazlitt's ''Economics in One Lesson''. It is the work for which Bastiat is most famous, followed by the candlemaker's petition and the parable of the broken window. Overview In ''The Law'', Bastiat says "each of us has a natural right – from God – to defend his person, his liberty, and his property." The State is a "substitution of a common force for individual forces" to defend this right. The law becomes perverted when it is used to violate the rights of the individual, when it punishes one's right to defend himself against an effort of others to legislatively enact laws which plunder his wealth/property. Whereas justice has precise limits, philanthropy is l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mises Institute
Ludwig von Mises Institute for Austrian Economics, or Mises Institute, is a libertarian nonprofit think tank headquartered in Auburn, Alabama, United States. It is named after the Austrian School economist Ludwig von Mises (1881–1973). It was founded in 1982 by Lew Rockwell. Its creation was funded by Ron Paul. History The Ludwig von Mises Institute was founded in 1982 by Lew Rockwell. Rockwell, who had previously served as editor for Arlington House Publishers, received the blessing of Margit von Mises during a meeting at the Russian Tea Room in New York City, and she was named the first chairman of the board. Early supporters of the institute included F.A. Hayek, Henry Hazlitt, Murray Rothbard, Ron Paul, and Burt Blumert. According to Rockwell, the motivation of the institute was to promote the specific contributions of Ludwig von Mises, who he feared was being ignored by libertarian institutions financed by Charles Koch and David Koch. As recounted by Justin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mark Thornton
Mark Thornton (born June 7, 1960) is an American economist of the Austrian School. DiLorenzo, Thomas (2011-02-11My Associations with Liars, Bigots, and Murderers '' LewRockwell.com'' He has written on the topic of prohibition of drugs, the economics of the American Civil War, and the " Skyscraper Index". He is a Senior Fellow with the Ludwig von Mises InstituteMark Thornton fellow page Ludwig von Mises Institute website, ''accessed December 21, 2013.'' in Alabama and a Research Fellow with the Independent Institute. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian School
The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.Ludwig von Mises. Human Action, p. 11, "Purposeful Action and Animal Reaction". Referenced 2011-11-23. The Austrian School originated in late-19th- and early-20th-century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical School (based in Germany), in a dispute known as '' Methodenstreit'', or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian Schoo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Market
In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy, prices for goods and services are set solely by the bids and offers of the participants. Scholars contrast the concept of a free market with the concept of a coordinated market in fields of study such as political economy, new institutional economics, economic sociology and political science. All of these fields emphasize the importance in currently existing market systems of rule-making institutions external to the simple forces of supply and demand which create space for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Classical Economics
Classical economics, classical political economy, or Smithian economics is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill. These economists produced a theory of market economies as largely self-regulating systems, governed by natural laws of production and exchange (famously captured by Adam Smith's metaphor of the invisible hand). Adam Smith's '' The Wealth of Nations'' in 1776 is usually considered to mark the beginning of classical economics.Smith, Adam (1776) An Inquiry into the Nature and Causes of The Wealth of Nations. (accessible by table of contents chapter titles) AdamSmith.org The fundamental message in Smith's book was that the wealth of any nation was determined not by the gold in the monarch's coffers, but by its national income. This income was in turn bas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Schumpeter
Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian-born political economist. He served briefly as Finance Minister of German-Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship. Schumpeter was one of the most influential economists of the early 20th century, and popularized the term "creative destruction", which was coined by Werner Sombart. Early life and education Schumpeter was born in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary) in 1883 to German-speaking Catholic parents. Both of his grandmothers were Czech. Schumpeter did not acknowledge his Czech ancestry; he considered himself an ethnic German. His father owned a factory, but he died when Joseph was only four years old. In 1893, Joseph and his mother moved to Vienna. Schumpeter was a loyal suppo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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