All Posts Tagged With: "Broken Window Fallacy"
Smoke Got in Their Eyes
Economics pervades life. Many people (not Freeman readers) will misinterpret that remark to mean that money is all that’s important. That common misinterpretation testifies to the dearth of economic education in America. To say economics pervades life is the same as saying that choice pervades life. Everything we do volitionally requires that we choose one [...]
1Mar1999 | Sheldon Richman | 0 comments | ContinuedBurn Your House, Boost the Economy
Lawrence Parks is executive director of the Foundation for the Advancement of Monetary Education. Adapted from The Money Review, November 1997. An earlier version of this article appeared in The Free Market. As recently as 50 years ago, classical economists regarded the vitality of the economy as its ability to produce things that people wanted [...]
1Mar1998 | Lawrence M. Parks | 0 comments | ContinuedDestruction Is No Blessing
Last January, a devastating earthquake struck Kobe, Japan. Who can forget the awesome scenes of destruction?—skyscrapers reduced to piles of rubble, freeways heaved and twisted, homes wiped out by fire. Thousands perished and one of the country’s leading commercial hubs was left paralyzed. Amid all that ruin, some observers saw a ray of hope. Destruction, [...]
1Jun1995 | Lawrence W. Reed | 0 comments | ContinuedDestructive Achievement
Twenty-five years ago I met a nineteen-year-old man who liked to brag that he had “torn up” seven cars. Apparently that was the only noteworthy thing that he had ever done. Today he would be forty-four years old, assuming he is still alive. Recently I wondered what had happened to him and what he is [...]
1May1995 | Roger M. Clites | 0 comments | Continued-
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Government Beneficence and Other Fairy Tales
I admit I’m amused by the unceasing economic and political malarkey that flows from the pundits at... Read More
The Myths of the Interventionists
One of the most pernicious myths in the economic history of the twentieth century is the belief that... Read More
JPMorgan Chase and Casino Banking
JPMorgan Chase & Co., one of the nation’s leading banks, revealed in May that a London trader racked... Read More
Individualism, Trade-Unions, and “Self-Governing Combinations”
Who do you imagine said this? “[Trade-unions] seem natural to the passing phase of social evolution,... Read More
Bubbles, Malinvestment, and Higher Education
Many commentators are asking whether the next big bubble to burst will be the debt associated with the... Read More
