Tuesday, 26 April 2011

The Broken Window Fallacy

Through Tom Paine, I discovered a good YouTube video explaining Bastiat's Broken Window Fallacy (don't be put off by the baker's dodgy accent):

As I commented over at The Last Ditch, it's astounding that over 160 years after the publication of What Is Seen and What Is Not Seen, people still fall for the same Keynesian/socialist nonsense.

The Keynesians were also quick to tout the benefits of the recent Japanese earthquake! The good chaps at The Cobden Centre quickly denounced this lunacy.

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