The Impact of Frederic Bastiat's Thought on the Austrian School of Economics Cover Image

Wpływ myśli Fryderyka Bastiata na austriacką szkołe ekonomii
The Impact of Frederic Bastiat's Thought on the Austrian School of Economics

Author(s): Robert Mróz
Subject(s): Economy
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: Austrian school; Frederic Bastiat; praxelogy; subjective theory of value; rule of law

Summary/Abstract: This paper attempts to demonstrate the impact on Frederic Bastiat's writings on the Austrian School of Economics, and his underestimated contribution to economic theory. I consider five principal issues: methodology, value theory, the role of state, compet5ition as dynamic exploratory procedure, money issue and a related problem of the role of time in economy. I try do demonstrate that Bastiat was not only a journalist, but also a theorist. His ideas are present, above all, in works of Eugen of Boehm-Bawerk, Ludwig von Mises, Friedrich August von Hayek and Murray Newton Rothbard. Therefore, it the Austrians, on whom the responsibility of propagating Bastiat's writings and saving them from oblivion lies.

  • Issue Year: 2011
  • Issue No: 3
  • Page Range: 295-312
  • Page Count: 17
  • Language: Polish