In his classic Economics in One Lesson , Henry Hazlitt applies Frederic Bastiat’s “broken window” Boston Globe argues that this year’s earthquakes in China will be good for Chinese economicgrowth and that disasters can be good for the economy more generally.
is twice as large as the real effect, 2.5% of GDP is roughly a year’s worth of economicgrowth. Economists Jerry Hausman and Ephraim Leibtag have argued that the benefits of
creation and second for environmental conservation. One of the “key elements” of economics is that trade creates wealth . [1] Wealth is whatever people value, but more expensive than the original damage. Second, we have to consider the political-economic ramifications. It is no secret that money buys influence in politics, and it however, it is possible to “have it all,” in that we can have higher economicgrowth, more people, and a cleaner environment. Trade creates wealth — and trade also
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.