Thursday, July 4, 2013

Broken Window Fallacy: How Destruction does not Build Wealth

The Broken Window Fallacy was originally presented by Frederic Bastiat. Bastiat was a famous French essayist, economist, thinker and a champion for freedom back in the 1800s. Many have believed that simply violating personal property, yields to greater economic growth. As this video displays, it does not. In fact, it hurts society and individuals ability to accumulate capital to help fuel economic growth.

1 comment:

Anonymous said...

"Why not use spoons". ~ THAT DUDE, THE TEACHER, Milton Friedman.