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WikiVisually
The entire wiki reimagined as a visual magazine with video discovery · Watch your interests come alive
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Parable of the broken window
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The parable of the broken window was introduced by French economist Frédéric Bastiat in his 1850 essay "That Which Is Seen, and That Which Is Not Seen" to illustrate why destruction, and the money spe
When a child accidentally smashes a window, and then it has to be replaced, does this accident constitute a benefit to society, due to the economic ac
When a child accidentally smashes a window, and then it has to be replaced, does this accident constitute a benefit to society, due to the economic activity of repairing and replacing the window?
Firefighters at work in the Taisho-suji Market in Kobe, Japan after a 1995 earthquake.
Firefighters at work in the Taisho-suji Market in Kobe, Japan after a 1995 earthquake.
Partly-cleared bomb damage in an industrial area. The roofless buildings are houses. The corrugated metal in front of the pile of bricks and framing t
Partly-cleared bomb damage in an industrial area. The roofless buildings are houses. The corrugated metal in front of the pile of bricks and framing timber are the remains of several air-raid shelters.
Technological unemployment
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Technological unemployment is the loss of jobs due to technological change. It is a key type of structural unemployment. Technological change typically includes the introduction of labour-saving "mech
Parable of the broken window
…Jevons paradox Luddite fallacy Lump of labor fallacy…
A pharmacy robot delivering to a nurses' station at San Jose's Good Samaritan Hospital in the United States in 2008: In the 21st century, robots are b
A pharmacy robot delivering to a nurses' station at San Jose's Good Samaritan Hospital in the United States in 2008: In the 21st century, robots are beginning to perform roles not just in manufacturing but also in the service sector – in healthcare, for example.
Roman Emperor Vespasian, who refused a low-cost method of transport of heavy goods that would put laborers out of work
Roman Emperor Vespasian, who refused a low-cost method of transport of heavy goods that would put laborers out of work
Elizabeth I, who refused to patent a knitting machine invented by William Lee, saying "Consider thou what the invention could do to my poor subjects.
Elizabeth I, who refused to patent a knitting machine invented by William Lee, saying "Consider thou what the invention could do to my poor subjects. It would assuredly bring them to ruin by depriving them of employment, thus making them beggars."
Critics of the view that innovation causes lasting unemployment argue that technology is used by workers and does not replace them on a large scale.
Critics of the view that innovation causes lasting unemployment argue that technology is used by workers and does not replace them on a large scale.