Nathaniel SmithES8 — Differential DutiesIn the eighth installment of economic sayings Bastiat presents his audience with a parable. A poor French wine maker works hard to produce…Aug 21, 2017Aug 21, 2017
Nathaniel SmithEconThinkThe economist has peculiar methods (tools/principles)* for analyzing human action. This “economic way of thinking” is excellent at exposing…Aug 18, 2017Aug 18, 2017
Nathaniel SmithES7 — The PetitionIn this our seventh installment of Bastiat’s economic sophisms we will discuss his (should be) famous “Petition of the Candlemakers”. (see…Aug 16, 20171Aug 16, 20171
Nathaniel SmithES6 — Balance of TradeIn current political rhetoric much is made of the Balance of Trade. It is commonly believed that if a country imports more than it exports…Aug 9, 2017Aug 9, 2017
Nathaniel SmithES5 - One Tax Does Not Deserve Another & World PeaceThe bulk of chapter 5 I wish to cover in brief and will focus primarily on the final paragraph of the chapter.Aug 3, 2017Aug 3, 2017
Nathaniel SmithE.S. C.4: Equalizing Production?In Bastiat’s fourth economic sophism he presents five objections to the protectionists goal of making production conditions equal in the…Jul 26, 2017Jul 26, 2017
Nathaniel SmithEconomic Sophisms C III: Effort/ResultWhat is more important: maximum input or output? As Bastiat has shown in his previous chapters the answer continues to be found in the…Jul 20, 2017Jul 20, 2017
Nathaniel SmithSophisms Chapter Two: Obstacle/CauseIn Chapter 2 of Economic Sophisms Bastiat rehashes and elaborates on the primary point from Chapter 1: when one considers only one half of…Jul 17, 2017Jul 17, 2017
Nathaniel SmithThe Source of Wealth: Abundance/Scarcity?In the opening chapter of Economic Sophisms Bastiat clarifies why people desire scarcity over abundance. That is, why people in general…Jul 14, 2017Jul 14, 2017