Frédéric Bastiat：Economic Sophisms, Excerpt 162

In fact, in consequence of the fire, all things will be doubled in price, and the inventories of property, made before and after the destruction, will show exactly the same _nominal_ value. But then what will the country in question have lost? If John buys his cloth dearer, he also sells his corn at a higher price; and if Peter loses on his purchase of corn, he retrieves his losses by the sale of his cloth. "Each recovers, in the extra price of his products, the extra expense of living he has been put to; and if everybody pays as a consumer, everybody receives a corresponding amount as a producer."

Source： https://www.gutenberg.org/ebooks/44145
Locator：Excerpt 162 · Verified：2026-10-19 · Verification：Short excerpt

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