[MD] scatological economics
craigerb at comcast.net
craigerb at comcast.net
Fri Nov 17 11:57:54 PST 2006
A parable:
I have a window & $100, which I am going to spend for a new suit. Someone throws a rock through my window destroying it. So I take the $100 to the glazer for a new window & he takes the $100 to the tailor for a new suit. Do the math: at the start, I had a window & $100; the glazer had a window & the tailor had a suit. In the end: I have a window; the glazer has a suit & the tailor has $100. What's the difference? One window. [adapted from Frederic Bastiat (recommended author).]
Of course, it has to be that way or we could increase our wealth by going around breaking windows.
War is like that.
Craig
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