YAL in Action

Check out YAL activities on campus and updates from around the liberty movement.

Tag: Broken Window Fallacy
  • Stimulate the Economy: Declare a Paintball War on Canada

    By Wes Messamore This myth that World War II got us out of the Great Depression just won’t go away! Just today New York Times columnist Paul Krugman wrote: All around, right now, there are people declaring that our best days are behind us, that the economy has suffered a general loss of dynamism, that it’s unrealistic to …

  • The Cavalry Arrives

    The above is, of course, a reference to Paul Krugman’s increasingly-absurd comments on government spending. Krugman calls for a fake alien invasion here. The increasing absurdity of Krugman’s comments even prompted a Google Plus parody account to post: People on twitter might be joking, but in all seriousness, we would see a bigger boost in …

  • Irene’s Broken Window

    Reuters reports that bulk stores have been getting a boost over the past few days thanks to people preparing for Hurricane Irene: Hastings expects Home Depot to do well, as it has 35 percent more stores than Lowe’s Cos Inc (LOW.N) in the affected region. He also expects Newell Rubbermaid Inc (NWL.N) to benefit from demand for …

  • “Spooky” Krugman Says Alien Invasion Good for Economy

    We’ve come to save your economy. “The Truth is out there,” Special Agent Fox “Spooky” Mulder used to say on the television series The X-Files as he and his partner hunted down unexplained phenomena and searched for extraterrestial life. For Paul Krugman, economic Nobel Prize recipient, the truth is way, way out there as he …

  • Does destruction have an economic silver lining?

    For the millionth time, no.  Not even World War II.  In short, make stuff, not war:

  • The Logic That Just Won’t Die

    The Broken-Window Fallacy spouted, again, by an alleged economic expert. Friday’s massive earthquake…may provide a jolt to the [Japanese] economy over the short term, Lawrence Summers, president emeritus of Harvard University and former director of the White House National Economic Council… “…It may lead to some temporary increments, ironically, to GDP, as a process of …

  • War Is Good for the Economy

    …like cannibalism is nutritious. (via)

  • Peter Schiff asks “Why Not Another World War?”

    In his most recent article, Austrian economist Peter Schiff  analyzes the old Keynesian belief that the so-called stimulus of war time spending can rescue economies and pull us out of depressions. There is overwhelming agreement among economists that the Second World War was responsible for decisively ending the Great Depression. When asked why the wars …

  • Sci-Fi Bastiat

    I recently saw the sci-fi flick The Fifth Element for the first time in a long time and was reminded of its apt demonstration of Bastiat’s Broken Window Fallacy.   You could say Zorg, one of the villains, is a bad guy in more ways than one:   He’s the evil puppet of the larger antagonist as …

  • Palmer on the Broken Window Fallacy

    In a lucid explanation of the Frederic Bastiat’s broken window fallacy, Cato’s Tom Palmer explains why destruction of property and mass murder doesn’t stimulate the economy, contra Keynesians like Paul “9/11 could do economic good” Krugman: