Frédéric Bastiat as an Accountant

Abstract

Frederic Bastiat (1801-1850) is primarily known for his writings in economics, especially in the area of international trade. However, he worked as an accountant in his early years and some of his writings take an accounting approach. This paper will examine the influence of accounting on his writings. Particular attention will be paid to his accounting approach toward the measurement and relevance of trade deficits, his application of the theory of opportunity cost, which was ahead of its time, and how he used accounting principles in his debate with Proudhon on the justification of interest. A bibliography with links to other Bastiat studies is also included.