Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.
“Let’s go back to the original Bastiat thought experiment about the broken window. Ask yourself this: Why are we assuming the window will be fixed at all?…”
“…So here we see the crucial, unappreciated factor: the obviousness
of certain production decisions. What these thought experiments —
carefully constructed to make a different point — actually prove is the
importance of being able to confidently decide what is the best use of
resources. And we can step back and see the same dynamic in very
different contexts.”
fresno dan says
Nice link Mr. Holden.
Or put another way, Solyndra
“Broken Windows, Part I: The Pain of Hard Choices” https://silasx.blogspot.com/2011/12/broken-windows-part-i-pain-of-hard.html
“Let’s go back to the original Bastiat thought experiment about the broken window. Ask yourself this: Why are we assuming the window will be fixed at all?…”
“…So here we see the crucial, unappreciated factor: the obviousness
of certain production decisions. What these thought experiments —
carefully constructed to make a different point — actually prove is the
importance of being able to confidently decide what is the best use of
resources. And we can step back and see the same dynamic in very
different contexts.”
Nice link Mr. Holden.
Or put another way, Solyndra
A prophetic interview from 1994: https://video.google.com/videoplay?docid=5064665078176641728&hl=en
I have seen this video before (it’s from 1994), but i came across it today (https://whataboutmarx.blogspot.com/2012/01/echoes-of-past-who-are-john-stapleton.html), and i thought i should share it.
In the video , Sir james Goldsmith talks about China and the decay of the West 17 years ago. Well worth your time