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“short lesson on the broken window fallacy”

Sadly, the biggest believer in the broken window fallacy lives in the White House. He spent hundreds of billions of dollars to “create” jobs, forgetting that for every job he “created” he was destroying 1 or more private sector jobs. He and his advisors repeatedly kept trying to draw our attention to the “visible” and ignoring all the invisible jobs that were destroyed in this process. As the lesson shows, he made us all poorer in the process. It doesn’t matter whether the money he used was borrowed or taxed. In the end, the consequences all work out to be the same.