Frederic Bastiat was a French economist known for advocating free markets and classical economics. He’s famous for his book “The Law”, where he argues that the latter should protect individual rights, not enable the plundering of other’s property, while opposing protectionism and socialism. In this connection, he concocted the theory of “opportunity cost”, which basically claims that the real cost of something is what you must give up to get it…
A Macro Market View by Hubert Marleau
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