Frédéric Bastiat：Economic Sophisms, Excerpt 119

The truth is, it would be necessary to take the balance of trade _backwards [au rebours]_, and calculate the national profits from foreign trade by the excess of imports over exports. This excess, after deducting costs, constitutes the real profit. But this theory, which is true, leads directly to free trade. I make you a present of it, gentlemen, as I do of all the theories in the preceding chapters. Exaggerate it as much as you please--it has nothing to fear from that test. Suppose, if that amuses you, that the foreigner inundates us with all sorts of useful commodities without asking anything in return, that our imports are _infinite_ and exports _nil_, I defy you to prove to me that we should be poorer on that account.

Source： https://www.gutenberg.org/ebooks/44145
Locator：Excerpt 119 · Verified：2026-10-19 · Verification：Short excerpt

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