As Kishore Jayabalan noted yesterday, the fallacy of “broken windows” is, unfortunately, ubiquitous in discussions of public finance and macroeconomics. Though we are told that government spending and public works have a stimulating effect on economic activity, rarely are the costs of such projects discussed.
Read more on Re: Broken Windows – University Funding Edition…
Ernie Harwell was calling the play by play over television for the first live televised sports broadcast from coast to coast. The series featured the famous “shot heard round the world” at the Polo Grounds in 1951. It’s possibly baseball’s most well known historic moment featuring a dramatic 9th inning home run by Bobby Thompson to defeat the Brooklyn Dodgers, sending the New York Giants to the World Series. It was Russ Hodges radio call of the same game, however, that became etched in American sports lore. Harwell humorously says, “Only my wife knows I was on the air that day.”
