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.
“For many are called, but few are chosen.”
—Bible: New Testament Jesus, in Matthew, 22:14.
In the parable of the marriage of the king’s son.
“Then Jesus told them a parable about their need to pray always and not to lose heart.”
—Bible: New Testament, Luke 18:1.
“Forget all feuds, and shed one English tear
O’er English dust. A broken heart lies here.”
—Thomas Babington Macaulay (1800–1859)
“The minister’s wife looked out of the window at that moment, and seeing a man who was not sure that the Pope was Antichrist, emptied over his head a pot full of..., which shows to what lengths ladies are driven by religious zeal.”
—Voltaire [François Marie Arouet] (1694–1778)