ISBN: 9372304549 9789372304541

Category: Business & Economics / Economics / General

Page count: 131

What Is Free Trade? by Frédéric Bastiat is a classic and enduring defense of economic liberty, first published in the mid-19th century by one of France’s most influential liberal economists. Through a series of lucid, witty, and often satirical essays, Bastiat dismantles the arguments for protectionism and makes a compelling moral and practical case for free trade. In his Introduction, Bastiat sets the tone by exposing the misconceptions that pervade economic policy debates. The book progresses through 23 thought-provoking chapters, including titles such as Plenty and Scarcity, Effort—Result, and Balance of Trade, where Bastiat uses accessible analogies to challenge prevailing economic fallacies. In A Petition, one of his most famous satirical chapters, French candle-makers absurdly request the government to block sunlight to reduce competition—a brilliant illustration of the illogic behind protectionist policies. Bastiat explores the economic and social impact of tariffs, import restrictions, and “national labor” through sharp critiques and real-world examples. In Discriminating Duties, Raw Material, and Does Protection Raise the Rate of Wages?, he illustrates how such interventions harm not only consumers but also the long-term interests of domestic producers and workers. With chapters like There Are No Absolute Principles and Metaphors, Bastiat warns against the use of emotionally charged but intellectually empty rhetoric that often clouds public economic understanding. By the time the reader reaches the Conclusion, Bastiat has laid out an elegant, logical, and morally grounded defense of unrestricted commerce as a tool of peace, prosperity, and international cooperation. This work remains a foundational text for students of economics, policymakers, and advocates of classical liberalism. Its relevance continues in contemporary debates on globalization, tariffs, and market regulation.