February 3, 2016 Print

Admir Čavalić, director of Multi, introduces the Bosnian edition of The Economics of Freedom: What Your Professors Won't Tell You.

An understanding of basic economic concepts among the general population is essential in order for a country to avoid falling prey to politically popular fallacies. Atlas Network partner Multi (Udruzenje Gradana) is bringing some of the most concise economic illustrations ever written to the people of Bosnia and Herzegovina with its Bosnian edition of The Economics of Freedom: What Your Professors Won't Tell You. The book contains several of the clear, lucid essays written by famed French free-market economist Frédéric Bastiat.

“Unfortunately, until now the audience in Bosnia and Herzegovina did not have a chance to see the work of Frédéric Bastiat,” said Admir Čavalić, director of Multi, in a media report about the event by Tuzlanski.ba (translated from Bosnian). “In Bosnia and Herzegovina there are so many myths about the economy, and you could say that if Bastiat were alive today he would write much more about the state of the economy in Bosnia and Herzegovina than in France 160 years ago.”

Tom G. Palmer, Atlas Network’s executive vice president for international programs, selected the Bastiat essays included in the book, covering topics such as the importance of tracing the consequences of economic activity for all people, rather than just a select few; explanations for why taxation, military spending, and subsidies do not promote economic growth; and much more. Palmer also provided his own contribution, “Twenty Myths about Markets,” as the book’s conclusion.

“There’s a shortage of clear thinking about hard problems,” Palmer wrote in his book Realizing Freedom: Libertarian Theory, History, and Practice, quoted in The Economics of Freedom. “Our universities produce precious little of it, but you can find an abundant supply in the writings of Frédéric Bastiat, the clearest, most sensible economist who ever wrote. Bastiat can be understood by a Nobel Prize winner, a taxi driver, a student, an entrepreneur ... even a politician! Read this book and get set for a life-changing experience.”

Multi’s Bosnian edition of The Economics of Freedom was made possible by an Atlas Network grant covering the translation and publication costs. A more recent Atlas Network grant has been awarded to fund a new Bosnian edition of The Essential Hayek, a collection of essays by Nobel laureate economist Friedrich A. Hayek published by Canada-based Atlas Network partner the Fraser Institute.