Frédéric Bastiat—The Cost of Bad Ideas

Should the government give people jobs? In 1840s France, many thought so. Facing food shortages and rising unrest, France’s government created the “National Workshops” to employ thousands and stimulate the economy. But one quick-witted economist saw the hidden costs. In this episode of Economic Game Changers, teens meet economist Frédéric Bastiat and explore the concept of opportunity cost—learning how visible economic activity can often hide the waste of scarce resources.