Frederic Bastiat

 Frederic Bastiat

"Having faith in the free market means having faith in the Creator."

Frederic Bastiat was a libertarian that described the importance of trusting in the Creator. We learn that he described the importance of the free market and the ability of individuals to practice free trade without monopoly "capitalism" and also without the false ideologies of socialism and communism. We learn that Bastiat recognized that trusting in the free market meant trusting in the Creator. This describes that the free market of true capitalism allows individuals to create and produce industry that allows for the best materials, produce, and ideas to be at the forefront while bad service, bad ideas, and bad produce are relegated to being forgotten. 

This describes that the free market allows individuals to improve and produce industry when there is no corruption and no stagnation. The free market of true capitalism prevents bad service and bad products from being sold and instead allows for individuals to decide how they spend their time, resources, and have the imperative need to improve every day. This describes how there is freedom and autonomy in true capitalism while socialism, monopoly "capitalism", and communism attempt to decrease autonomy by creating obstacles and preventing a level playing field. We learn that socialism and communism attempt to prevent individuals from producing, innovating, and improving because socialism and communism leads to stagnation. We learn that monopoly "capitalism", socialism, and communism have more in common than true capitalism fashioned after Frederic Bastiat and Frederick Hayek.

We learn that the best products and services in a free market allow for individuals to obtain the best materials and services at reduced costs while allowing for competition. The competition that exists in true capitalism allows individuals to improve their services and products so that consumers get cheaper products and better services. We learn that socialism and communism attempt to discourage innovation by creating bureaucratic red tape that prevents innovation, incentives, and motivation. This is with the intention to limit individuals from improving themselves. We learn that this leads to increased costs of services and products while decreasing the quality of services. In socialism and communism, there are no incentives for improving, producing, and innovating because instead there is envy and coveting that prevents innovation. We learned from communist Cuba how the government attempted to prevent individuals from selling Cuban sandwiches because of their disdain for individuals to produce and create. 

We learn that Frederic Bastiat was hated by socialists and communists in his time because of his stand for the free market, true capitalism, and objection to monopoly "capitalist", socialist, and communist policies that do not help anyone. This describes the importance of understanding and acknowledging that individuals are able to be industrious and productive far apart from the failed policies of monopoly "capitalism", socialism, and communism that have attempted to lead to slothfulness, envy, and coveting. We know that instead responsible capitalism describes the need to guard the importance of motivation, autonomy, and industry describing that we can be sovereign, industrious, and motivated even amidst the times.