Description

Overview:

When something is destroyed, does that actually help the economy by creating construction jobs? Do disasters like fires, floods, earthquakes, tornados, or tsunamis actually stimulate job growth? Only if people were planning to light their money on fire before having to spend it on reconstruction! This is what economists call the Broken Window Fallacy.

Subject:

Economics

Level:

High School, Community College / Lower Division, College / Upper Division

Material Type:

Lecture

Author:

Patrick Walsh

Provider:

Saint Michael's College

Provider Set:

EconGuy Videos

Date Added:

11/29/2013