Frederic Bastiat

Dictionary Says

Definition of 'Frederic Bastiat'


A 19th-century philosopher and economist famous for his ideas about the role of the state in economic development. Frederic Bastiat was known for pointing out flaws in protectionism, as well as other political and economic principles, through satire. He wrote "Economic Sophisms" while living in England during the Industrial Revolution, and "The Law", a work outlining how a free society can develop through a just legal system. Bastiat died in 1850.
Investopedia Says

Investopedia explains 'Frederic Bastiat'


One of Bastiat's witty contributions within "Economic Sophisms" was known as the "Candlemaker's Petition", a satire of the role of protectionism in economics. In the story, candlemakers across France join forces and protest against the unfair competition they face from the sun, in this case considered a "foreign competitor". They petition the government that there are many advantages to blocking the sun.
comments powered by Disqus
Hot Definitions
  1. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  2. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  3. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  4. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  5. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  6. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
Trading Center