“I had this nightmare that the economy was run by micromanaging Econ professors, who worked for the big banks & had no real-world experience.”
- Tweet by @RudyHavenstein.
Smash ! The son of a Parisian shopkeeper accidentally breaks a pane of glass. A crowd gathers at the scene. The shopkeeper is annoyed, being out of pocket by the cost of a window. But the glazier summoned to replace it will benefit, by the same margin. The crowd starts to jump to conclusions. Where would poor glaziers be in a world of pristine windows ? Imagine all the good uses to which the glazier can direct his new-found windfall. Think what he could buy ! All that new money coursing through the economy. Might it not be better if we broke a few more windows ?Lords of Misrule