"So we have finished with the broken window. An elementary fallacy. Anybody, one would think, would be able to avoid it after a few moments’ thought. Yet the broken-window fallacy, under a hundred disguises, is the most persistent in the history of economics. It is more rampant now than at any time in the past. It is solemnly reaffirmed every day by great captains of industry, by chambers of commerce, by labor union leaders, by editorial writers and newspaper columnists and radio commentators, by learned statisticians using the most refined techniques, by professors of economics in our best universities. In their various ways they all dilate upon the advantages of destruction."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Henry Hazlitt, Economics in One Lesson (1946), Ch. 3. The Blessings of Destruction
https://en.wikiquote.org/wiki/Parable_of_the_broken_window
Revision History
No revisions have been submitted for this quote.
Categories
Parable of the broken window
3 quotes on TrueQuotesView all quotes by Parable of the broken window →
Related Quotes
"Let us begin with the simplest illustration possible: let us, emulating Bastiat, choose a broken pane of glass. A you…"
"Though some of them would disdain to say that there are net benefits in small acts of destruction, they see almost en…"
"Currency devaluations stimulated recovery in two ways: allowing nominal interest rates to fall and, so long as people…"
"This ground-plan, conceived by a great architect, exhibits a fundamental metaphysical dualism in Plato’s thought. ...…"
"We are called upon in this case to decide whether under the Investment Advisers Act of 1940 [1] the Securities and Ex…"
"Once upon a time, capital gains were not taxable in Canada. But the federal government instituted a tax on capital ga…"
"These cases present the same question, that is, whether under the Revenue Act of 1934, 26 U.S.C.A. Int.Rev.Acts, page…"
"The boycott, as Gandhi taught, is the most nearly perfect instrument for nonviolent change, allowing masses of people…"
"Economic power has to precede political power. Gandhi understood this when, in 1930, he and his followers resolved to…"
"Thus in our view the Lange-Lerner-Taylor-Hayek debate comes down to the fundamental distinction between economies whe…"