11 December 2010

P Kroog vs The Broken Window Fallacy

I know I harp about Bastiat's "That Which Is Seen, and That Which Is Not Seen" all the time, but this is a story that — judging from how often supposedly informed people demonstrate ignorance of it — can not be told enough.




Via KPC


PS Don't come back at me with that "multiplier" nonsense. You can't get rich by wasting things.

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