Tuesday, November 3, 2009

Welcome to Burning the Furniture

The lesson of Frederic Bastiat's "Broken Window" fallacy is needed today as much as ever. In the example of a shopkeeper with a broken window, Bastiat explains how we must look at unseen effects as well as seen effects of economic action. To gain insight into the "unseen", I'll share what I learn from popular commentators, current events, and personal study in economic science.