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By Mark Davis
The nation founders, the Lone Star State thrives
Topic - Frédéric Bastiat
Northeasterners affected by Tuesday's massive storm are beginning the process of assessing the damage. Initial estimates suggest it could cost anywhere from $20 billion to $100 billion to bring things back to where they were before Hurricane Sandy struck.
Why does government stimulus spending fail? When considering the success of economic programs, the 19th-century French economist Frederic Bastiat urged us to look at both "what is seen and what is not seen." Now a program at the Department of Commerce provides ample evidence of Bastiat's prescience. The Economic Development Administration (EDA) provides a strong warning against future stimulus spending: When it comes to stimulus, the unseen costs are often greater than the visible benefits.
In 1850, French economist, philosopher and statesman Frederic Bastiat wrote his book "The Law," which has been described as possibly the best refutation of "The Communist Manifesto" ever written.
Frederic Bastiat, the 19th-century French economist, explained "legal plunder" by saying, "When a portion of wealth is transferred from the person who owns it -- without his consent and without compensation, and whether by force or by fraud -- to anyone who does not own it, then I say that property is violated."