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.
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"But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime."
Frederic Bastiat
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1 comment:
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).
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