PRODUCER AND CONSUMER

It is not a matter of dividing the human race into two parts, but of studying two very different aspects of man.

Frédéric Bastiat
Economic Harmonies

As an introduction to this chapter showing the importance of studying economy from the point of view of the consumer (reason for which we now speak of the “consumers’ society”), Frédéric Bastiat explains the basis concepts that will support his reasoning.

Today’s quote refutes in advance the cheap argument consisting in dividing producers and consumers as if these were different groups of people. Each and every one of us is a producer and a consumer – it is not individuals who change but their role, even if we shall see that in a given transaction, the consumer and the producer are indeed two distinct individuals.

We are here reminded that the aim of production is to satisfy needs. As a producer, one does satisfy the needs of others with the aim of satisfying his own in exchange for it.

Other quotes from Producer and Consumer:
Introduction – Main part – Conclusion

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