Investing · Western classics
Frédéric Bastiat:Economic Sophisms, Excerpt 224
Frédéric Bastiat《Economic Sophisms》· Economic Sophisms · Investing
Machinery, and the importation of foreign commodities, certainly produce effects. These effects may be good or bad; on that there may be difference of opinion. But whatever view we take of them, it is reduced to a formula, by one of these two principles: Machinery is a good; or, machinery is an evil: Importations of foreign produce are beneficial; or, such importations are hurtful. But to assert that there are no principles, certainly exhibits the lowest degree of abasement to which the human mind can descend; and I confess that I blush for my country when I hear such a monstrous heresy proclaimed in the French Chambers, and with their assent; that is to say, in the face and with the assent of the _élite_ of our fellow-citizens; and this in order to justify their imposing laws upon us in total ignorance of the real state of the case.
Source:
https://www.gutenberg.org/ebooks/44145
Locator:Excerpt 224 · Verified:2026-10-19 · Verification:Short excerpt
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Does this passage change one judgment about money or risk today?
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