The Broken Window Fallacy of U.S. Economics
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Uploaded by AynRandInstitute on Jan 23, 2012
Yaron Brook discusses the economics of the Great Depression, with an explanation of the broken window fallacy, a common error in economics. This is excerpted from the Q&A at a lecture delivered by Dr. Brook on December 1, 2011, in Chicago, Illinois, titled "Why Bad Economics Won't Go Away."
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Man, that kid sure got his money's worth with that Coolidge-question! That was a lot of ground to cover, and cover so clearly.
reardenmedals 1 week ago
@sbuttgereit Of course. I was just pointing out that Coolidge was not president during the depression of 1920-21. Wilson and then Harding was. That is a minor factual error in the video.
UltraConservative298 4 weeks ago
@UltraConservative298 Actually Harding didn't take office until 1921... but it is true that Harding had much to do with the sensible policies which reduced the impact of that recessionary period. Wilson was in office until Jan 1921.... and he was a different matter.
sbuttgereit 4 weeks ago
Harding was president during 1920-21, not Coolidge. But their policies were largely the same, so I guess it is easy to mix them up.
UltraConservative298 4 weeks ago in playlist __Educational--002
Economics in One Lesson by Henry Hazlitt is a fantastic, clearly explained book that every liberal, conservative and socialist should read.
airduderino 1 month ago