Episode 61

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Published on:

17th Aug 2020

The Economy Also Doesn't Need a Broken Window

We continue with Paul Krugman's suggestion of a fake threat of aliens invading to stimulate a depressed economy. We look at a blog post he had written for the New York Times where he revealed his inspiration for the blessings of fear and destruction: World War II.

Unfortunately, even many conservatives and Christians think like Krugman that war spending helps an economy grow or get out of a slump. We look at the parable of a broken window from Frederic Bastiat to see that destruction really is destruction.

Sources Cited:

Paul Krugman, "Terrorists and Aliens," The New York Times, November 17, 2015

John Maynard Keynes, "The Propensity to Consume," Chapter 10 of The General Theory of Employment, Interest and Money.

Scriptures Referenced:

Galatians 2:18

Proverbs 14:1


Further Reading:

Robert Higgs, "The Myth of U.S. Prosperity during World War II."


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Truthspresso
Practical Christian Caffeine for the Mind
A Christian podcast addressing theology, politics, economics, and practical life tips as caffeine for your mind.

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Daniel Mynyk