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, broken window, parable of, parable, broken and/or window:
“Go and do likewise.”
—Bible: New Testament, Luke 10:37.
Jesus, after telling the parable of the Good Samaritan.
“The birds that came to it through the air
At broken windows flew out and in,
Their murmur more like the sigh we sigh
From too much dwelling on what has been.”
—Robert Frost (1874–1963)
“I cannot dig; to beg I am ashamed.”
—Bible: New Testament Luke, 16:3.
The unjust steward in the Parable of the Unjust Steward.
“Go and do likewise.”
—Bible: New Testament, Luke 10:37.
Jesus, after telling the parable of the Good Samaritan.
“Had we never lov’d sae kindly,
Had we never lov’d sae blindly,
Never met—or never parted,
We had ne’er been broken hearted.”
—Robert Burns (1759–1796)
“Tree at my window, window tree,
My sash is lowered when night comes on;
But let there never be curtain drawn
Between you and me.”
—Robert Frost (1874–1963)