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Originally Posted by mary
Beat me to it.
Thanks. Its basic opportunity cost stuff, but I'll admit I hadn't heard of the phrase "broken window fallacy".
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I can't remember if I've ever heard that phrase either, but it is a brilliant and simple explanation of an often used fallacy.
I found it interesting that they gave these examples of the fallacy:
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- Arguments for public works projects as a way to reduce unemployment
- Arguments for increasing the number of government employees, in order to provide employment
- Arguments for protectionist measures such as tariffs, subsidies and/or other regulations in order to protect local industries
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Sounds oddly like somebody we know...