Posted in November 2012

What is the broken window fallacy?

The broken window fallacy was first expressed by the great French economist, Frederic Bastiat. Bastiat used the parable of a broken window to point out why destruction doesn’t benefit the economy. In Bastiat’s tale, a man’s son breaks a pane of glass, meaning the man will have to pay to replace it.  The onlookers consider … Continue reading

The Greatest Transfer Of Wealth Ever

A vast number of people think that what we’ve been through during the last four years is just another episode in the economic crises history of the United States.  They believe a president has the power to continue the trend or reverse it.  So they put their faith in the next presidential elections.  They think … Continue reading