Investing · Western classics
Frédéric Bastiat:Economic Sophisms, Excerpt 41
Frédéric Bastiat《Economic Sophisms》· Economic Sophisms · Investing
If it be argued that in practice they do not press their principle to its most extreme consequences, I willingly grant it. This is always the case when one sets out with a false principle. Such a principle soon leads to results so absurd and so mischievous that we are obliged to stop short. This is the reason why practical industry never admits _sisyphism_; punishment would follow error too closely not to expose it. But in matters of speculation, such as theorists and statesmen deal in, one may pursue a false principle a long time before discovering its falsity by the complicated consequences to which men were formerly strangers; and when at last its falsity is found out, the authors take refuge in the opposite principle, turn round, contradict themselves, and seek their justification in a modern maxim of incomparable absurdity: in political economy, there is no inflexible rule, no absolute principle.
Source:
https://www.gutenberg.org/ebooks/44145
Locator:Excerpt 41 · 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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