...is a weblog about the liberal arts 2.0 edited by Jason Kottke since March 1998 (archives). You can read about me and kottke.org here. If you've got questions, concerns, or interesting links, send them along.
Ten recurring economic fallacies, 1774-2004.
One of the most persistent is that of the broken window -- one breaks and this is celebrated as a boon to the economy: the window manufacturer gets an order; the hardware store sells a window; a carpenter is hired to install it; money circulates; jobs are created; the GDP goes up. In truth, of course, the economy is no better off at all.
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