Showing posts with label Bastiat. Show all posts
Showing posts with label Bastiat. Show all posts

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.