Definition of Broken window fallacy
Get Babylon's Dictionary & Translation Software Free Download Now!
Broken window fallacy Definition from Encyclopedia Dictionaries & Glossaries
Wikipedia English - The Free Encyclopedia
The parable of the broken window was introduced by Frédéric Bastiat in his 1850 essay () to illustrate why destruction, and the money spent to recover from destruction, is actually not a net-benefit to society. The parable, also known as the broken window fallacy or glazier's fallacy, demonstrates how opportunity costs, as well as the law of unintended consequences, affect economic activity in ways that are "unseen" or ignored.
|See more at Wikipedia.org...|