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« Singularity Signposts – 9nov2008 | Main | Nevada County’s Power Future? »

10 November 2008

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Jeff Pelline

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Russ Steele

George there are some more examples of the broken window economic fallacy, whereby spending money creates jobs as the expenditure multiplies throughout the economy, in David Kreutzer's Heritage Foundation Web memo, Impact of CO2 Restrictions on Employment and Income: Green Jobs or Gone Jobs?

George Rebane

Thanks Russ, that's a good expansion of the 'broken windows fallacy'. Another one is from the Cato Institute titled 'Highway Robbery', and there are many others when you google 'broken windows fallacy'. The amazing thing is that the left-wing politicians and, even, some economists are blind to the fallacy. It reminds me of all the mathematicians who couldn't figure out the three door Monty Hall TV show problem.

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