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Summary

The Law was originally published as a  pamphlet in French in 1850 by Frederic Bastiat. It is his most famous work  and was written two years after the third French Revolution of 1848. It  defines, through development, a just system of laws and then demonstrates how  such law facilitates a free society.     Bastiat was a French classical liberal theorist, political economist, and  member of the French assembly. He was notable for developing the important  economic concept of opportunity cost. He was the author of many works on  economics and political economy, generally characterized by their clear  organization, forceful argumentation, and acerbic wit.     Born in Bayonne, Aquitaine, France, Bastiat was orphaned at nine and became  a ward of his paternal grandparents. At 17, he left school to work in his  family's export business. Economist Thomas DiLorenzo suggests that this  experience was crucial to Bastiat's later work since it allowed young  Frédéric to acquire first-hand knowledge of how regulation can affect  markets. When Bastiat was 25, his grandfather died, leaving the young man the  family estate, thereby providing him with the means to further his  theoretical inquiries.     After the middle-class Revolution of 1830, Bastiat  became politically active and was elected justice of the peace in 1831 and to  the Council General in 1832. He was elected to the national legislative  assembly after the French Revolution of 1848. His public career as an  economist began in 1844 and was cut short by his untimely death in 1850.

Duration: about 2 hours (01:49:34)
Publishing date: 2012-02-02; Unabridged; Copyright Year: 2012. Copyright Statment: —

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