The French Liberal School, also called the Optimist School or the Orthodox School, is a 19th-century

school of economic thought In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a common perspective on the way economies work. While economists do not always fit into particular schools, particularly in moder ...

that was centered on the

Collège de France The Collège de France (), formerly known as the ''Collège Royal'' or as the ''Collège impérial'' founded in 1530 by François I, is a higher education and research establishment ('' grand établissement'') in France. It is located in Paris n ...

and the

Institut de France The (; ) is a French learned society, grouping five , including the Académie Française. It was established in 1795 at the direction of the National Convention. Located on the Quai de Conti in the 6th arrondissement of Paris, the institute ...

. The ''

Journal des Économistes A journal, from the Old French ''journal'' (meaning "daily"), may refer to: *Bullet journal, a method of personal organization *Diary, a record of what happened over the course of a day or other period *Daybook, also known as a general journal, a ...

'' was instrumental in promulgating the ideas of the school. Key thinkers include Frédéric Bastiat, Jean-Baptiste Say,

Antoine Destutt de Tracy Antoine Louis Claude Destutt, comte de Tracy (; 20 July 1754 – 9 March 1836) was a French Enlightenment aristocrat and philosopher who coined the term "ideology". Biography The son of a distinguished soldier, Claude Destutt, he was born in ...

and

Gustave de Molinari Gustave de Molinari (; 3 March 1819 – 28 January 1912) was a Belgian political economist and French Liberal School theorist associated with French ''laissez-faire'' economists such as Frédéric Bastiat and Hippolyte Castille. Biography B ...

. The school voraciously defended

free trade Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold econ ...

and ''

laissez-faire ''Laissez-faire'' ( ; from french: laissez faire , ) is an economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies) deriving from special interest groups ...

''. They were primary opponents of interventionist and

protectionist Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. ...

ideas. This made the French School a forerunner of the modern

Austrian School The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian schoo ...

."Forerunners of the Austrian School: The French Liberal School , Joseph T. Salerno (Lecture 1 of 10)"

YouTube YouTube is a global online video sharing and social media platform headquartered in San Bruno, California. It was launched on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim. It is owned by Google, and is the second mo ...

References

See also