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:
“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)
“Go and do likewise.”
—Bible: New Testament, Luke 10:37.
Jesus, after telling the parable of the Good Samaritan.
“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.
“Your children don’t have equal talents now and they won’t have equal opportunities later in life. You may be able to divide resources equally in childhood, but your best efforts won’t succeed in shielding them from personal or physical crises. . . . Your heart will be broken a thousand times if you really expect to equalize your children’s happiness by striving to love them equally.”
—Marianne E. Neifert (20th century)
“As the end of the century approaches, all our culture is like the culture of flies at the beginning of winter. Having lost their agility, dreamy and demented, they turn slowly about the window in the first icy mists of morning. They give themselves a last wash and brush-up, their ocellated eyes roll, and they fall down the curtains.”
—Jean Baudrillard (b. 1929)