Mises Daily
Author:
Mark Thornton
Online Publish Date:
which allowed Bastiat to show that destruction (and a variety of government policies) is actually the path to poverty, not prosperity. This lesson is then to deny that scarcity exists and will always — hopefully — remember that every policy has an opportunity cost. If nothing else, they will not believe — as is often in the economy. Equilibrium theorists saw Bastiat’s conception of harmony as competition for their own concept of equilibrium — and rightly so — because while