Wackonomics

[kg_veteran]

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".

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:

• 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

Sounds oddly like somebody we know...