Sunday, June 27, 2010

We're All One Big Bastiat Tribute Band!

Yes, indeed: England go out the them! on the hottest day of the year. An economic boom surely follows, right?

By the way, for any five-oh sceptical of it all, I have one thing to say: just think of the overtime!


Heh. Few folks left on the kerb with this one. Bastiat wrote the Parable of the Broken Window to explain what he thought was bonkers about economics, namely that all economic activity is treated as good, even if - like replacing broken windows - there's no net gain at the end of it all. In contrast, if it's mere activity that you're after, replacing all the shop windows put through during the normal post-world cup exit near-riots ought to guarantee an economic boom (to say nothing of all that police overtime). Bastiat's theory could have been tested to destruction, except - as Ross notes - the sheer awfulness of England seemed to drained the life out every the most committed lunatics.


Greencoat said...

What does this post mean?
Could someone please interpret?

Trevor said...

Don't worry, Greencoat, it's not just you.