by Christopher Westley

Ludwig von Mises Institute

12/30/04

I didn't think anyone would dare to apply the Bastiat's Broken Window fallacy to the human tragedy that is still playing itself out along the rim of the Indian Ocean, but sadly, faith in economic fallacies is even more common than deadly tsunamis. That is why I was surprised to hear the Institute for International Economics' C. Fred Bergsten (known affectionately as See Fred) this morning (December 29th) on National Public Radio's Morning Edition explain how this crisis would actually provide long-term benefit to that region of the world...

http://www.mises.org/fullstory.aspx?Id=1712


Informant: Thomas L. Knapp