Suppose that a strong earthquake were to destroy a sizable part of a city. The rebuilding process would involve massive investment, procurement of materials and services, and employment. But can ...
In 1850, French economist Frédéric Bastiat wrote an essay about “That Which Is Seen, and That Which Is Not Seen” in which he told the parable of the broken window and his lesson is as important now as ...
A comparison of U.S. military spending and China’s infrastructure investment raises questions about opportunity costs, as ...
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