Mises and Bastiat on How Democracy Goes Wrong, Parts I and II

“It should be clear that Bastiat and Mises have a contrarian outlook on politics. It is only to be expected that the general public prefers to blame political insiders—rather than itself—for bad policies. But economists also tend to pin bad policies on special interests, and rarely put the man in the street on their list of suspects. Although the economics of Bastiat and Mises is in many ways quite “orthodox,” their economics of politics is decidedly non-conformist.



“Thus, if Bastiat and Mises are right about how politics works, not only is economic education important. More profoundly, until the friends of economic literacy understand their role in the world, they will be unable to give their best performance.”