There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen. Yet this difference is tremendous; for it almost always happens that when the immediate consequence is favorable, the later consequences are disastrous, and vice versa. Whence it follows that the bad economist pursues a small present good that will be followed by a great evil to come, while the good economist pursues a great good to come, at the risk of a small present evil.
- Frédéric Bastiat - Topics: Monetary Policy, Forecasting, Economist.
The State is the great fiction through which everyone endeavours to live at the expense of everyone else.
- Frédéric Bastiat - Topics: Government.
When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.
When goods don’t cross borders, soldiers will.
- Frédéric Bastiat - Topics: Tariff.
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