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Friday, November 11, 2011

Frederic Bastiat on fraud



French economist, Frederic Bastiat, perfectly summed up the concept of fraud and how it is perpetuated with this quote:

"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it" - Fredric Bastiat.

(h/t Roger Erickson)

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