The parable of the broken window was introduced by Frédéric Bastiat in his 1850 essay Ce qu'on voit et ce qu'on ne voit pas (That Which Is Seen and That Which Is Unseen) to illustrate why destruction, and the money spent to recover from destruction, is actually not a net-benefit to society. The parable, also known as the broken window fallacy or glazier's fallacy, demonstrates how opportunity costs, as well as the law of unintended consequences, affect economic activity in ways that are "unseen" or ignored.
Read more about Parable Of The Broken Window: The Parable, Differing Interpretations, Criticisms
Famous quotes containing the words parable of the, parable of, parable, broken and/or window:
“Well done, thou good and faithful servant.”
—Bible: New Testament Jesus, in Matthew, 25:21.
Here and in 25:23, said to the two “profitable servants” in the parable of the talents.
“Only in the problem play is there any real drama, because drama is no mere setting up of the camera to nature: it is the presentation in parable of the conflict between Man’s will and his environment: in a word, of problem.”
—George Bernard Shaw (1856–1950)
“On every parable you ride to every truth.”
—Friedrich Nietzsche (1844–1900)
“Lips that would kiss
Form prayers to broken stone.”
—T.S. (Thomas Stearns)
“The knocking out of a pipe can be made almost as important as the smoking of it, especially if there are nervous people in the room. A good, smart knock of a pipe against a tin wastebasket and you will have a neurasthenic out of his chair and into the window sash in no time.”
—Robert Benchley (1889–1945)