Frederic Bastiat: Slavery Monopoly

Posted by admin on Monday, January 22, 2024

Meaning of Frederic Bastiat Money Quote: saying unfair economic systems cause suffering, but can be defended by both profiteers and those who suffer. Frederic Bastiat said:

 
Slavery, protection, and monopoly find defenders, not only in those who profit by them, but in those who suffer by them Quote

 

Slavery, protection, and monopoly find defenders, not only in those who profit by them, but in those who suffer by them” — Frederic Bastiat

 

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In this quote, Frédéric Bastiat is making the observation that systems like slavery, protectionism and monopoly tend to have defenders not just from those who directly benefit economically from them (“those who profit by them”), but also from others who are actually harmed by them (“those who suffer by them”).

His point seems to be that these harmful systems can distort people’s perceptions to the extent that even those negatively impacted will defend them, perhaps due to psychological, social or political factors.

Overall, the quote serves as a critique of how unfair economic systems maintain support through influencing public opinion, beyond just those who gain immediate advantages from such systems

Birthday: June 30, 1801 – Death: December 24, 1850

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