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.
“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.
“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)
“As a lone ant from a broken ant-hill
from the wreckage of Europe, ego scriptor.”
—Ezra Pound (1885–1972)
“And though in tinsel chain and popcorn rope
My tree, a captive in your window bay,
Has lost its footing on my mountain slope
And lost the stars of heaven, may, oh, may
The symbol star it lifts against your ceiling
Help me accept its fate with Christmas feeling.”
—Robert Frost (1874–1963)