Ep. 35 - Broken Window Fallacy, Love & Respect, Akrates
Plodcast
Canon Press
4.8 • 1K Ratings
🗓️ 14 March 2018
⏱️ 19 minutes
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| 0:00.0 | Yes, God, God. God don't never change. So welcome to |
| 0:18.0 | to broadcast episode 35. Here we are. |
| 0:21.0 | Plotco's, uh, Plotcast 35. I mean mean look at that. |
| 0:24.4 | That's 35, that's a better part of a year. |
| 0:27.9 | So thanks for staying with me, thanks for checking in, thanks for tuning in or whatever. |
| 0:33.1 | You don't tune in. |
| 0:34.3 | Whatever it is you do with the podcast. |
| 0:36.4 | Thanks for doing it. |
| 0:38.0 | So I want to begin by talking a little bit |
| 0:42.0 | about an economic principle. This is the principle that was identified by |
| 0:50.1 | Bastiat in his writings in the 18th century and then was picked up by Hazlett in his very |
| 0:57.4 | fine book economics in one lesson. |
| 1:00.1 | I want to talk a little bit about it because it is a there's a principle involved in this that we |
| 1:08.9 | have to take into account virtually every time we're watching the evening news about any kind of economic issue. |
| 1:18.0 | And it could be the economic issue that we're considering could be the closure of a factory, the opening of a factory, the impact of tariffs, the impact of a trade war, the idea of an imbalance of trade. |
| 1:39.0 | Basically there's a there's a driving there's a theme that runs throughout all of these |
| 1:47.2 | things and and thoughtful individuals are going to look at it and say ah |
| 1:52.0 | whatever they're presenting to me, there's another |
| 1:56.3 | side to this that either cannot be seen, cannot be photographed, cannot be interviewed, or it can be and they're just not doing it. |
| 2:05.2 | But here's how it works. |
| 2:09.5 | This comes under the heading of the Broken Window fallacy. |
| 2:15.0 | The Broken Window fallacy. |
... |
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