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History
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 spent to recover from destruction, is not actually a net benefit to society.
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.
Frédéric Bastiat
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Claude-Frédéric Bastiat was a French economist, writer and a prominent member of the French Liberal School.
Frédéric Bastiat
Frédéric Bastiat
Drawing of Bastiat
Drawing of Bastiat
Bust of Bastiat in Mugron
Bust of Bastiat in Mugron
Bastiat's tomb in San Luigi dei Francesi, a Catholic church in Rome
Bastiat's tomb in San Luigi dei Francesi, a Catholic church in Rome