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Through the Parable of the Broken Window, Bastiat introduces the economic concept of Opportunity Cost. The parable describes a shopkeeper's son accidentally breaking his father's window. The spectators at the scene thought this was a good thing, as the glazier now had work. However, Bastiat says that "this theory is confined to what is seen; it does not take into account what is unseen". What is not seen is that the money, now spent on repairing the destruction, could otherwise have been used pr
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Professor Art Carden visits Bastiat's famous Parable of the Broken Window to explain why not all forms of spending are equal. | Learn Liberty
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215 years ago today, French economist Frédéric Bastiat was born. Celebrate by learning about Bastiat's most famous parable, "the broken window fallacy," with professor Art Carden. | Learn Liberty
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