The Law

In The Law, Bastiat states that "each of us has a natural right — from God — to defend his person, his liberty, and his property." The state is a "substitution of a common force for individual forces" to defend this right. The law becomes perverted when it punishes one's right to self-defense in favor of another's acquired right to plunder.

Bastiat defines two forms of plunder: "stupid greed and false philanthropy." Stupid greed is "protective tariffs, subsidies, guaranteed profits," and false philanthropy is "guaranteed jobs, relief and welfare schemes, public education, progressive taxation, free credit, and public works." Monopolism and socialism are legalized plunder, which Bastiat emphasizes is legal but not legitimate.

This new edition from Laissez Faire Books, created especially for members of the Laissez Faire Club, includes a new editorial preface by Jeffrey A. Tucker, LFB's executive editor, and a new foreword by Bill Bonner, founder of Agora, Inc., and columnist for DailyReckoning.com.

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