20 Sep '12, 7pm

My own #bitcoin themed spin on Bastiat's "Candelmakers' Petition"

My own #bitcoin themed spin on Bastiat's "Candelmakers' Petition"

In 1845 French economist Claude Frédéric Bastiat penned what is now a fairly famous bit of political satire: The Candlemakers' Petition (French |English ). This took the form of a petition written to the French government by a body of candlestick makers and railed against protectionism by holding it up for ridicule: The candlemakers suggested a number of economic benefits to be achieved by blocking out the sun. Light bulbs did exist in various forms at the time, but the first commercially viable bulb wouldn't be produced for another 30+ years - if a commercially viable light bulb had existed at the time I can imagine Bastiat's candlemakers to suggest it be banned, too. The attitude expressed by Bastiat's Candlemakers' Petition suggests to me that, were he alive today, he would probably be a big fan of disruptive technologies. To that end, I hope he won't spin in his grave ...

Full article: http://codinginmysleep.com/the-dollar-printers-petition/

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