Life, Liberty, and Property

Thoughts on a Free Market Economy…

“Life, Liberty, and Property”

By Phyllis Hunsinger

July 1, 2019

Claude Frederic Bastiat was a French economist, legislator, and writer in the first part of the nineteenth century who championed private property, free markets, and limited government. His most famous work is The Law, which is the classic blueprint for a free society.

As July 4th is celebrated in …

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“The Broken Window Fallacy”

Thoughts on a Free
Market Economy…

“The
Broken Window Fallacy”

By
Phyllis Hunsinger

June 1, 2019

The broken window fallacy was first expressed by the great French economist, Frederic Bastiat, born June 29, 1801, and died Decembeer 24, 1850. Bastiat used the parable of a broken window to demonstrate why destruction does not benefit the economy.

In Bastiat’s parable, a young son breaks a pane of glass, meaning the father will have to pay to replace the broken window. The onlookers, and perhaps the boy’s mother, consider the situation and decide …

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