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Bastiat takes into account the consequences of breaking the window for society as a whole, rather than for just one group. [3] [4] Austrian theorists cite this fallacy, saying it is a common element of popular thinking. The 20th century American economist Henry Hazlitt devoted a chapter to the fallacy in his book Economics in One Lesson. [5]
Broken windows and vandalism are still prevalent because communities simply do not care about the damage. Regardless of how many times the windows are repaired, the community still must invest some of their time to keep it safe. Residents' negligence of broken window-type decay signifies a lack of concern for the community.
Chapter 2, "The Broken Window", uses the example of a broken window to demonstrate what Hazlitt considers the fallacy that destruction can be good for the economy. He argues that while the broken window may create work for the glazier, the money the shopkeeper has to spend on replacing the window means that he cannot spend it elsewhere in the ...
Broken window may refer to: Broken window fallacy , economic theory illustrating why destruction, and the money spent to recover from destruction, is not actually a net benefit to society Broken windows theory , criminological theory of the norm-setting and signaling effect of urban disorder and vandalism on additional crime and anti-social ...
A member of the French National Assembly, Bastiat developed the economic concept of opportunity cost and introduced the parable of the broken window. [2] He was described as "the most brilliant economic journalist who ever lived" by economic theorist Joseph Schumpeter. [3]
On the way to the Nobel prize, he could have lost everything. Mullis points out that his invention was a technological breakthrough, not an end in itself.
Baur also told the outlet that a female passenger was partially "drawn out" of the broken window before being "pulled back in by other passengers." It is unclear if the woman described by Baur was ...
An ecological fallacy is committed when one draws an inference from data based on the premise that qualities observed for groups necessarily hold for individuals; for example, "if countries with more Protestants tend to have higher suicide rates, then Protestants must be more likely to commit suicide". [26] Observational interpretation fallacy