Yesterday marked the 214th anniversary of Frédéric Bastiat’s birthday on June 30, 1801, in Bayonne, France. One of the seminal thinkers of the classical liberal tradition, Bastiat made great contributions to the field of political economy, laying many of the foundations for the later school of Austrian economics. Both a politician and a writer,…
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Predictably, within days of the unmitigated disaster and massive loss of life (10,000 and counting) in Japan from the record 8.9-magnitude earthquake and tsunami, a major Keynesian economist has gone on the record in defending the “broken window fallacy” in economics by claiming that the Japanese disaster will actually boost economic growth. The economist…
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