Bastiat, FRÉDÉRIC, an eminent political economist, was born at Bayonne in 1801. His father was a merchant, and educated his son with a view to the same calling. In 1818 Bastiat entered the commercial house of one of his uncles at Bayonne, and employed his leisure hours in the study of political economy. In 1825 he withdrew from the business, and gave his time to study, especially of economics, extending his knowledge afterwards by travels in Spain and England. Circumstances led him to examine the movement in England for the repeal of the Corn Laws. His first appearance as an author was in 1844, when he published in the Journal des Economistes an article on the influence of French and English tariffs on the future of the two peoples. It contained in germ his theory of political economy, and Bastiat from that time was a decided opponent of the system of protection. In 1845 he published a work entitled Cobden et la Ligue, ou l'Agitation Anglaise pour la Liberté du Commerce, containing the speeches of the English free-traders. In 1846 he settled in Paris, and devoted his energies to the cause of free-trade. He became secretary of the societies, and chief-editor of the journal established to vindicate its principles; and published his Sophismes économiques, in which he attacked the protective system with great wit and controversial acumen. After the revolution of 1848, he was elected successively a member of the Constituent and Legislative Assemblies. From this time till his death, his strength was applied chiefly to controverting the socialism which became so prominent during the revolution. Suffering from pulmonary disease, he repaired to Italy for change of climate, but died at Rome on the 24th December 1850.
Besides the writings mentioned, Bastiat published Propriété et Loi, Justice et Fraternité—Protectionisme et Communisme, Harmonies économiques, and several other important treatises, all of which exhibit extensive knowledge of the subjects discussed, vigorous logic, and a power of sprightly and biting satire (new ed. of his works, 7 vols. Paris, 1881). The Sophismes and the Harmonies économiques have been translated into English by P. J. Stirling.