Man does not live upon nominal values, but upon real products, and the more products there are, whatever be their price, the richer he is. - Frédéric Bastiat

In the department of economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause — it is seen. The others unfold in succession — they are not seen: it is well for us, if they are foreseen. Between a good and a bad economist this constitutes the whole difference: the one takes account only of the visible effect; the other takes account of both the effects which are seen and those which it is necessary to foresee. Now this difference is enormous, for it almost always happens that when the immediate consequence is favourable, the ultimate consequences are fatal, and the converse. Hence it follows that the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come, at the risk of a small present evil.

Ninguna sociedad puede existir si el respeto a las Leyes no reina en algún grado; pero lo más seguro, para que las leyes sean respetadas, es que sean respetables. Cuando la Ley y la Moral entran en contradicción, el ciudadano se encuentra en la cruel disyuntiva de perder la noción de Moral o de perder el respeto por la Ley, dos desgracias tan grandes la una como la otra, y entre las cuales es difícil elegir.

For when a farmer borrows fifty francs to buy a plow, it is not actually the fifty francs that is lent to him; it is the plow.
And when a merchant borrows twenty thousand francs to buy a house, it is not the twenty thousand francs he owes; it is the house.