Author Archive
Economics Fallacy – The Broken Window
Listening to Walter Williams in my morning commute speak about the “Broken Window Fallacy” reminded me of one of my favorite books on economics, “Economics in One Lesson” by Henry Hazlitt. The text of this book is available online, and well worth a read for anyone who wants to learn more about economics. I highly suggest reading this book if you have any interest in understanding how economics works, without having to dig too deep into mathematics. For a taste, read the chapter on “The Broken Window.”
“A young hoodlum, say, heaves a brick through the window of a baker’s shop. The shopkeeper runs out furious, but the boy is gone. A crowd gathers, and begins to stare with quiet satisfaction at the gaping hole in the window and the shattered glass over the bread and pies. After a while the crowd feels the need for philosophic reflection. And several of its members are almost certain to remind each other or the baker that, after all, the misfortune has its bright side. It will make business for some glazier. As they begin to think of this they elaborate upon it. How much does a new plate glass window cost? Two hundred and fifty dollars? That will be quite a sum. After all, if windows were never broken, what would happen to the glass business? Then, of course, the thing is endless. The glazier will have $250 more to spend with other merchants, and these in turn will have $250 more to spend with still other merchants, and so ad infinitum. The smashed window will go on providing money and employment in ever-widening circles. The logical conclusion from all this would be, if the crowd drew it, that the little hoodlum who threw the brick, far from being a public menace, was a public benefactor.”
The rest of the chapter is at this link.
Muppets – Beaker sings Dust in the Wind
{title:”Muppets – Beaker sings Dust in the Wind”,url:”http://www.lockjawslair.com/2010/02/10/muppets-beaker-sings-dust-in-the-wind/”}
Buckle Up
{title:”Buckle Up”,url:”http://www.lockjawslair.com/2010/02/08/buckle-up/”}
Video – Daddy’s Home from Iraq
{title:”Video – Daddy’s Home from Iraq”,url:”http://www.lockjawslair.com/2009/11/06/video-daddys-home-from-iraq/”}
Mike Baker on Homeless Soccer, aka The Clip That Hooked Me on Red Eye
I discovered Red Eye, late night on Fox News and watched it now and then, but it was this clip that made Red Eye a daily watch for the wife and I. When you see it, you’ll understand why. {title:”Mike Baker on Homeless Soccer, aka The Clip That Hooked Me on Red Eye”,url:”http://www.lockjawslair.com/2009/10/30/mike-baker-on-homeless-soccer-aka-the-clip-that-hooked-me-on-red-eye/”}
Multi-Camera Office Lip-Sync Brilliance
{title:”Multi-Camera Office Lip-Sync Brilliance”,url:”http://www.lockjawslair.com/2009/10/30/multi-camera-office-lip-sync-brilliance/”}
Contest for Google Wave Invite
I’ve had a few days to work with Google Wave, and it really is a fantastic new tool. Currently, it is in preview mode, so access is invite-only. Those who received their invites directly from Google have been granted invites that they can pass out to others. I’ve decided to offer one of mine up [...]
Barack Obama’s Promises – Advice Taken
Back in November, I wrote a post advising then President-Elect Barack Obama how to make lots of promises, but not necessarily keep them. Whether he was aware of it or not, he has been following my advice perfectly. The man has made plenty of promises, but failed to follow through on very much at all. [...]
One Reason I Love Fox News “Red Eye” at 3am
This is making the rounds because “Attack of the Show” featured it. I’ve been wanting exactly this clip, plus the “Homeless soccer fat chicks” comment for some time. I’ll have to settle for just the one, for now. {title:”One Reason I Love Fox News “Red Eye” at 3am”,url:”http://www.lockjawslair.com/2009/10/08/one-reason-i-love-fox-news-red-eye-at-3am/”}
Order for me. I’ll order for that guy.
Would you eat at a restaurant in which each person ordered the meal for the next person to order? Offsetting Behaviour tells of a japanese restaurant where each person orders, and pays for, the meal of the person to follow.Yes, when you visit, you eat what the person before you ordered, and the next person [...]