Articles Quote by Frederic Bastiat
“The balance of trade is an article of faith.”
About This Quote
Trade balances are often accepted as truths without empirical scrutiny, reflecting ideological belief rather than data.
In simple terms: Trade figures are treated as dogma.
Key Takeaway
Question economic assumptions.
Themes
trade
economics
belief
data
Mood
skeptical
inquisitive
Type
critical
philosophical
When to use this quote
- policy making
- academic research
- media reporting
Key Concepts
ideology vs. evidence
statistical interpretation
Practical Applications
- Analyze trade data over multiple cycles
- Compare balance narratives across countries
Questions to Reflect On
- What evidence would change your view on a trade imbalance?
- How do cultural narratives shape economic policy?
A Different Perspective
Some trade imbalances have measurable macroeconomic impacts that cannot be dismissed as mere belief.
![“I wrote an article about the marine landing [in Haiti] right away, but barely mentioned the oil, because my article would come out two months later and I assumed by then, "of course, everybody knows." Nobody knew. There was a news report in the Wall Street Journal, in the petroleum journals, and…” quote by Noam Chomsky](https://sms4smile.com/quotes/img-quotes/dc5/noam-chomsky-42_articles_i-wrote-an-article-about-the-marine-land_13341.jpg)
