The Broken Window Fallacy

With every disaster, there is always someone who makes a comment like this:

“In the odd nature of economic accounting, this will probably be a stimulus,” said Alan Gin, a University of San Diego economist. “There will be a huge amount of rebuilding in the next couple of years, financed by insurance payments.”

Somewhere, Bastiat is frowning.


One response to “The Broken Window Fallacy

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