Peer Past The Obvious With Policies
This week marks the 219th birthday of the great 19th-century French economist Frederic Bastiat. It’s the perfect time to talk about his famous essay, “That Which is Seen, and that Which is Not Seen,” published in his book, “The Law.” This timeless work remains an essential guide to thinking about policymaking. In that essay, Bastiat writes: “In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause — it ...