(Хязгааргүй сонсох 1 сарын эрх)
Frédéric Bastiat was a French political economist, statesman, and classical liberal theorist who coined the term “opportunity cost”. His common sense essays tried to battle the rise of socialist ideology after the French revolution, where provisional governments were rivaling each other for power. Central concerns he discusses in this essay are who should control money, how socialism degenerates into communism and fails, the importance of savings to create capital and enable borrowing and prosperity, and that lending is only worth the risk if the lender profits from it, via interest.
Ponder questions such as “How is wealth created?”, “How should it be divided amongst the people?”, “What services should the government provide?” Realize the fallacy of gratuitous capital availability to the people without paybacks See how savings are what makes borrowing possible so the common man can get ahead and prosper Comprehend the law of supply and demand Recognize the importance of a leisure class for society to prosper Understand why accumulating capital in a free market means using it in a way that benefits others
For anyone interested in the study of Economics For enthusiasts willing to learn more about capitalism and socialism For all university students For people interested in generating wealth