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Original Research Articles

Vol. 9 (2021): Yearly Continuous Publication

Bastiat and the nature of interest: the debate with Proudhon

DOI
https://doi.org/10.30800/mises.2021.v9.1378
Submitted
November 27, 2020
Published
2021-02-26

Abstract

This article investigates Bastiat's criticism of Proudhon's proposal to abolish interest by establishing the Bank of the People. The controversy between the two authors is examined in the light of the peculiarities of the economic theory developed by Bastiat, which include elements extracted from the works of Jean-Baptiste Say, Destutt de Tracy, and Charles Comte. We will argue that the merit and limitations of Bastiat's arguments in the debate reflect the tension between the subjective and objective elements present in his theory. 

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