That Which is Seen, and That Which is Not Seen
Frederic Bastiat
Gebundenes Buch

That Which is Seen, and That Which is Not Seen

Bastiat and the Broken Window (1853)

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Frédéric Bastiat is well known for his 'broken window' parable. While other economists were looking at how maintaining a standing army, launching public works projects, and even destroying things, as a way to spur the economy, Bastiat showed in this classic economics essay just how wrong this thinking is — or at least, how it is incomplete. 'What is seen' is plain enough: the broken window. 'What is not seen' requires some imagination and curiosity, but is nonetheless real: the things not purchased because the money had to be used for the window, and other unintended consequences. This is ...