Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
[ This Mises Daily originally ran August 29, 2011 .] Free-market economists have triumphantly cited the broken-window fallacy whenever someone opines that a destructive act, whether a natural disaster or man-made catastrophe, is paradoxically “good for the economy.” The reference is to a classic lesson given by the economist Frédéric Bastiat in