In a Time of Universal Deceit, Telling the Truth is Revolutionary.
Friday, June 21, 2024

The “Broken Glass Fallacy”

In the current economic crisis, our masters in Washington are busy trying to portray the situation as one of great complexity, requiring great genius to arrive at solutions.

Don’t buy it for a moment. Economics is not really that complex a subject.

More than a century ago, Frederic Bastiat, a French philosopher and economist, noted that most bad economic policies are the result of rather simple fallacies. In one particularly famous essay, Bastiat addressed the “fallacy of the broken glass.”

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