To economists, the term “Broken Windows” refers to the question that if a shopkeeper pays a glazier to repair a broken window at his store, does this deliver an economic benefit to society? Many people would say yes, because it generates demand for glass and work for the glazier.
Have you ever been witness to the fury of that solid citizen, James Goodfellow, when his incorrigible son has happened to break a pane of glass? If you have been present at this spectacle, certainly you must also have observed that the onlookers, even if there are as many as thirty of them, seem with one accord to offer the unfortunate owner the selfsame consolation: “It’s an ill wind that blows nobody some good. Such accidents keep industry going. Everybody has to make a living. What would become of the glaziers if no one ever broke a window?
Excerpt from the 1850 essay “That Which is Seen and That Which is Unseen” By Frederic Bastiat Continue reading
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