Published Tuesday, July 29, 2008 by Art Carden
Hazlitt once pointed out that the good ideas in economics have to be relearned every generation, and indeed it seems that a disaster cannot pass without common economic fallacies rearing their ugly heads. The broken-window fallacy seems to reappear every time terrorism or a natural disaster causes mayhem and destruction. Do we have to compound the misery by ignoring one of the most basic lessons economics has to teach us?
(Original Text)
Broken Glass Everywhere (1.64 MB)