Broken Window Fallacy and Obamacare Jobs

The broken window fallacy lies in ignoring hidden damage when counting visible success. The broken window fallacy is everywhere in economics today. It basically claims that sophisticated economic analysis will see economic good news in economic bad news. One of the older and still-prevalent instances of the broken window fallacy is the claim that World War II ended the Depression. The idea is that all that spending “stimulated” the economy so that businesses grew and thrived from World Read more […]