Tuesday, April 3, 2012

"The Broken Window Fallacy" (Part 7,593,527)

"The Broken Window Fallacy": Why Government Stimulus Spending Will Keep The Unemployment Rate High | ZeroHedge: "In our busy days, it is all too easy to fall into the trap of hearing (and believing) the latest headline and its associated spin. For some reason, three minute videos can quickly and easily remove these 'spins' without the need for a PhD. In today's 3:06 un-spin, the broken-window-fallacy is addressed as the seen versus unseen impact of the idiocy of a broken-window's (or war, or destroying homes, or...) positive impact on an economy is explained in cartoon style. The sad fact is that this fallacy remains at the core of mainstream policy-making"
Burning down the village to save it indeed.