“In an economy, an act, a habit, an institution, or a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause - it is seen. The others unfold in succession - they are not seen. Now this difference is enormous, for it is often true that when the immediate consequence is favorable, the ultimate consequences are fatal, and the converse.”
Quote by Frederic Bastiat
Author
Frederic Bastiat
French economist and a prominent figure in the classical liberal tradition. Born on June 30, 1801, and died on December 24, 1850. His writings had a profound impact on economics and political philosophy. more
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