Capital And Interest

Capital and Interest

by Frederic Bastiat

Capital and Interest is an essay by French economist Frédéric Bastiat that addresses the popular fallacy of the day that capital should be available to all gratuitously, without the necessity of paying back loans, and looking upon any form of interest as usury. Bastiat argues that capital is created by savings and that savings are what make borrowing possible so that the common man can get ahead and prosper, and lending is only worth the risk if the lender profits by it, via interest. He demonstrates the law of supply and demand, that, in essence, interest decreases as the availability of capital increases. His basic premise is that without a leisure class (people who have money to spare over earning daily bread), there would be nothing to borrow, so that neither the common man nor society can prosper.

Book Details

Authors

Frederic Bastiat image

Claude-Frédéric Bastiat was a French economist, writer and a prominent member of the French Liberal School.    A member of the French National Assembly, Bastiat...

Books by Frederic Bastiat

Listen/Download Audiobook

Read by:
00:00
Playback Speed 1.0
00:00
  • Select Speed

Related books

The Wealth of Nations, Book 5 Cover image

The Wealth of Nations, Book 5 by Adam Smith

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus...

Other People's Money Cover image

Other People's Money by Louis D. Brandeis

Other People's Money And How the Bankers Use It is a collection of essays written by Louis Brandeis first published as a book in 1914, and reissued in...

The Lives of the Queens of England Volume 3 Cover image

The Lives of the Queens of England Volume 3 by Agnes Strickland

The remarkable stories of two influential queens who left an indelible mark on the annals of England's monarchy. Agnes Strickland, the spirited Queen...

The Majesty of Calmness Cover image

The Majesty of Calmness by William George Jordan

Change your life by changing your thoughts. The Majesty of Calmness is your guide to attracting prosperity, manifesting opportunities, and managing st...

The Science Of Getting Rich Cover image

The Science Of Getting Rich by Wallace D. Wattles

The Science Of Getting Rich By Wallace D. Wattles has applications of Law of Attraction. As featured in the bestselling book The Secret, here is the l...

Use of Knowledge in Society Cover image

Use of Knowledge in Society by Friedrich Hayek

In "Use of Knowledge in Society," Friedrich Hayek argues against the feasibility and efficiency of a centrally planned economy. He emphasizes the inhe...

Richard Cory Cover image

Richard Cory by Edwin Arlington Robinson

This was the weekly poetry project for 3 June 2006. Many “character” poems cut straight to the inmost psychology of their subjects, but here, the epon...

Mother Earth, Vol. 1 No. 2, April 1906 Cover image

Mother Earth, Vol. 1 No. 2, April 1906 by Emma Goldman

Mother Earth, Vol. 1 No. 2, April 1906, is a landmark issue of the anarchist journal founded by Emma Goldman. This edition features a diverse range o...

野分 (Nowaki) Cover image

野分 (Nowaki) by Sōseki Natsume

'Nowaki' is a novel by Sōseki Natsume that tells the story of three writers in Tokyo around 1900. The novel explores themes of friendship, poverty, we...

Of the Shortness of Life Cover image

Of the Shortness of Life by Seneca

De Brevitate Vitae is a moral essay written by Seneca the Younger, a Roman Stoic philosopher, sometime around the year 49 AD, to his father-in-law Pau...

Reviews for Capital and Interest

No reviews posted or approved, yet...