“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.”

About Frederic Bastiat

Economist • French

Frédéric Bastiat was a renowned French economist, writer, and a prominent member of the French Liberal School. He is best known for developing the economic concept of opportunity cost and for his incisive critiques of...