BASTIAT, PRAIA= ( 1801-50). An eminent French political economist. He was born at Bayonne. June 29, 1801. His father was a merchant, and educated his son with a view to the same pursuit. After completing his studies, Bastiat entered the commercial house of one of his uncles, employing his leisure hours in the study of political economy. In 1831 he became justice of the peace at Mugron, and in the fol lowing year member of the Council-General of the Department of Landes. Circumstances call ed him into Spain and Portugal in 1840, where he took advantage of the opportunity afforded him to study the customs and institutions of these two countries. His first appearance as an author was in 1844, when he published. in the Journal des Economistes, an article entitled "De Finfluence des tarifs franeais et auglais sur l'avenir des deux peuples." It contained in germ the theory of political economy subsequently de veloped by Bastiat, who, from that moment, was known as a decided opponent of the system of Protection. Subsequently, in the same journal, he combated the economic fallacies of Socialism and the rights of labor. During a visit to England, he made the acquaintance of Cobden, and on his return to France he translated (1845) the speeches of the Free-Trade advocates, which he published in Paris with an introduction, entitled Cobden et la ligue; ou l'ayitation anylaise pour la hberte des eeltanges. in which he presented a
complete summary of the arguments against the protective system. Bastiat continued to propa gate his views with considerable success. Ile be came secretary of the societies and chief editor of the journal established to vindicate the princi ples of Free Trade. After the Revolution of 1848, he was elected successively a member of the Con stituent and Legislative assemblies. In 1850 he came forward as the antagonist of the Socialist writer, Proudhon. Suffering from pulmonary disease, he repaired to Italy for change of climate, hut died at Rome on December 2-4, 1850. Be sides the writings mentioned, Bastiat published Ig ophignles economiques; Propriete et loi; Justice et fraternite; Protectionisme et comma:tame; Harmonies eeonomigues; and several other im portant treatises. all of which exhibit extensive knowledge of the subjects discussed. convincing logic, and a power of sprightly and biting satire. The Harmonics economiqucs and the SOpHSMCS have been translated by J. P. Stirling. While his writings have had great influence, they did not establish a system of political economy which has found general acceptance. A new edi tion of his storks in seven volumes was published at Paris in 1881. Consult Bondurand, Frederic Bastiat (Paris, 1879).