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.
Labels:
Bastiat,
burning furniture,
economics,
Hurricanes
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