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RE: That Which is Seen, and That Which is Not Seen: Chapter 1, The Broken Window

in #economics7 years ago

Wait for the following chapters. You may be surprised.

Everything the government does is built on this same argument where government openly spends money on X, while covering up the cost to those who were taxed to fund X. And every government project is a monopoly with all the attendant waste and abuse that goes along with all monopolies multiplied by the economic calculation problem as discussed by Ludwig von Mises and others in the Austrian School.

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I actually looked up the broken window theory this last week for some reason. So, full disclosure, this is the second time I read it, I'm not usually this quick to grasp concepts. ;-)

Thanks for starting a great discussion that I'd never find anywhere else.