Minimum Wage and Unemployment: What Is Really Not Seen

As most libertarians know, Frederic Bastiat was a classic liberal writer and politician in a sea of post-revolutionary socialists. One of his most famous and distributed works is Ce qu’on voit et ce qu’on ne voit pas (That which is seen and that which is not seen). The essay contains twelve subessays discussing various topics relevant to 1840 and even today, regarding “well-intended” ideas (that which is seen) that have unproductive effects in application (that which is not seen). While libertarians begin to expose the problems of government intervention, and are well versed in economics, there are still many things that simply cannot be explained at first glance. And most libertarians are at a complete loss in arguments when the rely on simple logic. The problem is that the interactions of billions of different individuals is exceedingly complex. Even many axioms that are generally true have exceptions. This is what is really not seen. Continue reading