Bastiat proposes that that which is not seen is often the less desirable side of the issue, and so should be examined when making laws or economic decisions. This essay holds particular weight in our current state of affairs, and should be examined for its uncovering of government spending practices.

What Is Seen and What Is Not seen1 by Frederic Bastiat?

Bastiat proposes that that which is not seen is often the less desirable side of the issue, and so should be examined when making laws or economic decisions. This essay holds particular weight in our current state of affairs, and should be examined for its uncovering of government spending practices.

What Is Seen and What Is Not Seen economics?

In the sphere of economics an action, a habit, an institution or a law engenders not just one effect but a series of effects. Of these effects only the first is immediate; it is revealed simultaneously with its cause, it is seen. The others merely occur successively, they are not seen;3 we are lucky if we foresee them.

What is Bastiat’s main thesis?

Bastiat argues against socialism, saying that each person has a “natural right’ to protect their life, liberty, and property. The state exists to defend this right, Bastiat argues, and cannot be legitimately used to violate individual rights or to plunder their property.

What is the opportunity cost of constructing a new public highway?

The correct option is a. other goods and services that must be sacrificed to construct the new highway.

What is the practice of protectionism?

protectionism, policy of protecting domestic industries against foreign competition by means of tariffs, subsidies, import quotas, or other restrictions or handicaps placed on the imports of foreign competitors.

How is the law perverted according to Bastiat?

The law becomes perverted when it is used to violate the rights of the individual, when it punishes one’s right to defend himself against a collective effort of others to legislatively enact laws which basically have the same effect of plundering.

Which of the following statements is an explanation for the law of increasing opportunity costs?

The law of increasing opportunity costs states that: if society wants to produce more of a particular god, it must sacrifice larger and larger amounts of another good to do so. Which situation would most likely cause a nation’s production possibilities curve to shift inward?

Which of the following is one of the simplifying assumptions made in constructing a production possibilities curve?

Which of the following is one of the simplifying assumptions made in constructing a production possibilities curve? Resources are fully employed and are used in least-cost methods of production.