Mises Daily
Author:
Claude Frédéric Bastiat
Online Publish Date:
“When a farmer borrows fifty francs to buy a plow, it is not, in reality, the fifty francs which are lent to him, but the plow; and when a merchant borrows 20,000 francs to purchase a house, it is not the 20,000 francs which he owes, but the house. Money only appears for the sake of facilitating the arrangements between the parties.” In all times,