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Some might remember that shortly after 9/11 there were commentators who actually said that at least there was the bright side of jobs and business that would be generated to rebuild what had been destroyed.
That is why Bastiat's essay remains as fresh and relevant now as when he wrote it over a 150 years ago.
Richard Ebeling
Posted by: Richard Ebeling | January 05, 2010 at 01:58 PM
BEAUTIFUL. BTW, Wikipedia has a pretty good entry on the "broken window fallacy."
Posted by: Steve Horwitz | January 05, 2010 at 02:06 PM
Paul Krugman was one of those commentators: http://www.pkarchive.org/column/91401.html
Even for him, this was poor analysis.
Posted by: James Oswald (azmyth) | January 05, 2010 at 04:30 PM
They need the editors of The Onion on the White House ecnomics team. They at least understand why Cash for Clunkers was an idiotic idea.
Posted by: Troy Camplin | January 06, 2010 at 01:59 PM