John Tamny of RealClearMarkets
When asked who his favorite economist was, Ronald Reagan used to say Fredric Bastiat. Bastiat was a 19th-century economic philosopher from France, and while his numerous books are full of countless insights, he’s probably best known for introducing the notion of the “seen and the unseen.”
To explain this in easy-to-understand terms, Bastiat referenced a broken window. In this case, the “seen” was a shopkeeper’s broken window that would create economic growth for the shopkeeper hiring a glazier to replace the window, with the glazier spending the money earned elsewhere. Break enough windows and suddenly a great deal of economic activity occurs.
Sponsored: Want to Retire Early? Start Here
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
