Acton Institute Powerblog Archives

Post Tagged 'Parable of the broken window'

It’s All in Bastiat!

“It’s all in Plato, all in Plato: bless me, what do they teach them at these schools!” – Digory Kirke in C.S. Lewis’s The Last Battle The way Professor Kirk feels about Plato is how I feel about Frederick Bastiat. Continue Reading...

How a Study on Hurricanes Proved Bastiat’s Broken Window Fallacy

After 6,712 cyclones, typhoons, and hurricanes the evidence is clear: Bastiat was right all along. In 1850, the economic journalist Frédéric Bastiat introduced the parable of the broken window to illustrate why destruction, and the money spent to recover from destruction, is not actually a net benefit to society (see the video at the end of this post for an explanation of the broken window fallacy). Continue Reading...

Hurricanes Lead to Broken Windows—And Broken Window Fallacies

Hurricanes almost always leave two things in their aftermath: broken windows and articles advocating the broken window fallacy. As economist Don Boudreaux wrote earlier today, “Americans will soon be flooded by commentary that assures us that the silver lining around the destruction caused by hurricane Sandy is a stronger economy. Continue Reading...

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