Can we avoid natural disasters? Probably not. Can we avoid disastrous economic ignorance? Yes. The disaster in Japan provides yet another tragic illustration of how fallacies permeate the public conversation. First, destruction is not production. It never is, and society isn’t better off because of it. To claim otherwise is to fall victim to the Broken Window Fallacy, a fallacy that was exploded by Frederic Bastiat ... MOREArt Carden: Walking On Broken Glass?
Can we avoid natural disasters? Probably not. Can we avoid disastrous economic ignorance? Yes. The disaster in Japan provides yet another tragic illustration of how fallacies permeate the public conversation. First, destruction is not production. It never is, and society isn’t better off because of it. To claim otherwise is to fall victim to the Broken Window Fallacy, a fallacy that was exploded by Frederic Bastiat ... MOREJacob Sullum: Let There Be Light
Dim bulbs in Washington have condemned me to pee in the dark.During a Senate hearing last week, Rand Paul complained about the federal energy standards that will force conventional incandescent light bulbs off the market during the next few years. "I can't buy the old light bulbs," the Tennessee Republican said. "That restricts my choice." ... MORE
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