Essays on Political Economy

"Essays on Political Economy" by Frédéric Bastiat is a series of insightful economic writings from the 1800s that looks closely at money, profit, investments, and how government actions affect people and businesses. Bastiat takes a stand against the popular belief that charging interest is unfair, and instead, highlights how interest naturally and legally functions in financial deals and within communities. The author begins by talking about what interest is, tackling worries from socialists and reformers who see it as a way of taking advantage of others. He tackles difficult questions, asking whether profiting off investments is acceptable, and if so, whether these profits should last forever. Through relatable stories, like considering what happens when someone lends corn or tools, he shows the give-and-take in borrowing and lending. Bastiat explains that stopping interest would discourage saving and investment, which would actually hurt the workers that socialists are trying to help. This leads to a wider conversation about how economies work and promotes a free market system that respects people's rights to what they earn.