Archive for April 30th, 2008
Biofuels demonstrate Bastiat’s broken window fallacy
Wednesday, April 30th, 2008This seems to me an excellent example of the broken window fallacy, or the law of unintended consequences: U.N. expert calls biofuel a "crime against humanity" because of all the food it wastes and the price increases it causes, when there are already shortages and high prices of food in ...