Bastiat: Nations in devolution need catastrophe to learn

Frederic Bastiat:

“When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress, and can be restored only by the terrible lessons of catastrophe.”

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