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:
“I cannot dig; to beg I am ashamed.”
—Bible: New Testament Luke, 16:3.
The unjust steward in the Parable of the Unjust Steward.
“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)
“I cannot dig; to beg I am ashamed.”
—Bible: New Testament Luke, 16:3.
The unjust steward in the Parable of the Unjust Steward.
“I rejoice that horses and steers have to be broken before they can be made the slaves of men, and that men themselves have some wild oats still left to sow before they become submissive members of society. Undoubtedly, all men are not equally fit subjects for civilization; and because the majority, like dogs and sheep, are tame by inherited disposition, this is no reason why the others should have their natures broken that they may be reduced to the same level.”
—Henry David Thoreau (1817–1862)
“When we locked up the house at night,
We always locked the flowers outside
And cut them off from window light.”
—Robert Frost (1874–1963)