The fallacy of destruction

“Yet the broken window fallacy, under a hundred disguises, is the most persistent in the history of economics.  It is more rampant now than at any time in the past.  It is solemnly reaffirmed everyday by great captains of industry, by chambers of commerce, by labor union leaders, by editorial writers and newspaper columnists and radio and television commentators, by learned statisticians using the most refined techniques, by professors of economics in our best universities.  In their various ways they all dilate upon the advantages of destruction”.

Henry Hazlitt

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