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:
“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.
“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)
“For unto every one that hath shall be given, and he shall have abundance; but from him that hath not shall be taken away even that which he hath.”
—Bible: New Testament Jesus, in Matthew, 25:29.
In the parable of the talents.
“Lips that would kiss
Form prayers to broken stone.”
—T.S. (Thomas Stearns)
“‘Who is it that this dark night
Underneath my window plaineth?’”
—Sir Philip Sidney (1554–1586)