Frederic Bastiat French liberal economist Date of Birth: 30.06.1801 Country: Italy

1. Biography of Frederic Bastiat
2. Early Life and Education
3. Political Environment and Masonic Lodge
4. Commitment to Learning and Wide Interests
5. Career as an Economist and Publicist
6. Political Career and Advocacy for Free Trade
7. Later Years and Death

Biography of Frederic Bastiat

Frederic Bastiat was a French liberal economist, politician, and polemicist specializing in classical liberal and political economy. He was born on June 30, 1801, in Bayonne, Aquitaine, France, which is considered the cultural center of the Basque people in France. His family hailed from Mugron in the Landes department, where he spent most of his life. A statue was later erected in Mugron in honor of his contributions to his country.

Early Life and Education

Bastiat became an orphan at a young age, as his father passed away when he was nine and his mother died two years prior. He was then placed under the care of his paternal grandparents. At the age of 17, he left school and began working for his family's exporting company. This experience allowed him to gain firsthand knowledge of how regulation can affect markets, which played a crucial role in shaping his later works.

Political Environment and Masonic Lodge

Bastiat came of age during the Napoleonic Wars, a time when the government extensively intervened in economic affairs. In 1820, he joined a local Masonic lodge, immersing himself in a network that fostered intellectual and philosophical discussions.

Commitment to Learning and Wide Interests

When Bastiat turned 25, his grandfather passed away, leaving him with sufficient means to dedicate himself to studying theory. He had a wide range of interests, including philosophy, history, politics, religion, travel, poetry, political economy, and biographies.

Career as an Economist and Publicist

Bastiat's career as an economist and publicist was relatively short, beginning in 1844 and ending with his death in 1850. He started by writing articles for the economic journal 'Journal des Économistes' and eventually founded and became the editor of a free Parisian journal dedicated to the theory of free trade. He authored several works that challenged socialist ideas, protectionism, and prohibitive systems.

Political Career and Advocacy for Free Trade

In 1848, Bastiat was elected to the Legislative Assembly representing the Landes department and was reelected in 1849. Although he aligned himself with the left, he voted either with conservatives or socialists depending on the issue at hand. He served as the deputy chairman of the Committee on Finance in the Legislative Assembly.

Bastiat was known both within and outside the assembly for his speeches advocating for free trade and individual rights. He became a staunch defender of Richard Cobden, the leader of the free traders, and campaigned against the Corn Laws. Bastiat's first contribution to 'Journal des Économistes' was an article defending free trade and criticizing colonial policies. He founded the Association for Liberty and wrote a book about Richard Cobden.

Later Years and Death

In 1831, Bastiat became a general councilor and served as a justice of the peace from May 24, 1831, until November 30, 1843. He contracted tuberculosis during his travels across France to promote his ideas. As a result, his illness prevented him from further public engagements, including his work in the Legislative Assembly and the Institute of France, to which he was elected as a correspondent member in 1846. Bastiat sought to improve his health by traveling to Italy but succumbed to his advanced illness.

Bastiat passed away in Rome on December 24, 1850, at the age of 49. On his deathbed, he named Gustave de Molinari, his friend and fellow classical liberal advocate, as his intellectual heir. He was buried in the Roman church of San Luigi dei Francesi.