Saturday, September 20, 2008

Spot the Economic Fallacy

Can you spot the economic fallacy on which this (very funny) Onion News Network clip is based (Warning: explicit language, fake news)? The answer is in the comments.

Economists Warn Anti-Bush Merchandise Market Close To Collapse

1 comment:

Will Luther said...

The "economist" is assuming that the market is static when, in actuality, it is a dynamic process.

Creative destruction. Creative destruction. Creative destruction.

When one business goes under, resources are freed up and other ventures get off the ground.

My prediction: The anti-Bush industry will rapidly transform into the anti-McCain or anti-Obama industry (depending on the outcome of the election).