The Broken Window Fallacy Writ Large and Ugly
In a new video from our friends at the Atlas Economic Research Foundation, Tom Palmer debunks — again — the annoyingly persistent broken window fallacy, which the great French economic writer Frederic Bastiat should have left dead and buried long ago.
Sadly, this kind of economic illiteracy seems to rear its ugly head in reporting of most major catastropes. (Thanks to Tom Walls for the video link.)