I’ve periodically cited the great 19th-century French economist, Frederic Bastiat, for his very wise words about the importance of looking at both the seen and the unseen when analyzing public policy.
Those that fail to consider secondary or indirect effects of government, such as Paul Krugman, are guilty of the “broken window” fallacy.
Read more via The Wisdom of Bastiat, as Revealed by Great Moments in Federal, State, and Local Government – Daniel J. Mitchell – Townhall Finance Conservative Columnists and Financial Commentary – Page full.
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