What's happening at the
Wednesday 23 Aug 2017 | 01:10 | SYDNEY
Wednesday 23 Aug 2017 | 01:10 | SYDNEY

The Bastiat fallacy

By

COMMENTS

1 April 2010 13:48

Regarding Bastiat as a guide to contemporary economic circumstances, I'll quote Brad DeLong on this:

Did you know that M. Frederic Bastiat's Essays on Political Economy contains no references to "panic" or "crisis" or "depression" or "unemployment"? Only a truly clueless idiot would try to take it as a source of wisdom on macroeconomic questions.

Harsh, but fair.

You may also be interested in...