Frédéric Bastiat( 29 June 1801 - 24 December 1850 )
Claude-Frédéric Bastiat was a French economist and author who was a prominent member of the French Liberal School. He developed the economic concept of opportunity cost, and introduced the Parable of the Broken Window. He was also a Freemason, and member of the French National Assembly.
As a strong advocate of classical liberalism and the economics of Adam Smith, his views favouring free trade and opposing protectionism provided a basis for libertarian capitalism and the Austrian School.
Bastiat was born in Bayonne, Aquitaine, a port town in the south of France on the Bay of Biscay, on 29 June 1801. His father, Pierre Bastiat, was a prominent businessman in the town. His mother died in 1808 when Frédéric was seven years old. His father moved inland to the town of Mugron with Frédéric...