Investing · Western classics
Frédéric Bastiat:Economic Sophisms, Excerpt 67
Frédéric Bastiat《Economic Sophisms》· Economic Sophisms · Investing
"Formerly we exported stuffs; then that exportation gave place to that of yams, which are the raw material of stuffs; then to that of machines, which are the instruments for producing yarn; afterwards to the exportation of the capital with which we construct our machines; finally, to that of our workmen and our industrial skill, which are the source of our capital. All these elements of labour, one after the other, are set to work wherever they find the most advantageous opening, wherever the expense of living is cheaper and the necessaries of life are moat easily procured; and at the present day, in Prussia, in Austria, in Saxony, in Switzerland, in Italy, we see manufactures on an immense scale founded and supported by English capital, worked by English operatives, and directed by English engineers."
Source:
https://www.gutenberg.org/ebooks/44145
Locator:Excerpt 67 · 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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