Do we really need more broken windows? There is a fallacy within broken window fallacy. I will now explain this argument. Essentially, the fallacy (by the classic French economist Frederick Bastiat) argues that “breaking windows”, although brings work for window repairers and thus adds to economic activity, is sub-optimal because of the opportunity cost of […]
Tag: economic policy
European financial crisis – the next steps?
Introduction With this post, I’m anticipating the next phase of debate on European financial crisis, as the problem of asynchronous economies isn’t going away. The continent is currently riddled with the refugee crisis, but sooner or later the attention will return to this topic which hasn’t been properly dealt with. The problem In brief, there are […]