Frederic Bastiat
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Born: June 30, 1801

Died: December 24, 1850 (age 49)

Nationality: French

Occupation: Economist

Bio: Claude Frédéric Bastiat was a French classical liberal theorist, political economist, and member of the French assembly. He was notable for developing the important economic concept of opportunity cost.

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The rich philistinism emanating from advertisements is due not to their exaggerating (or inventing) the glory of this or that serviceable article but to suggesting that the acme of human happiness is purchasable and that its purchase somehow ennobles the purchaser.

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