Home > Uncategorized > The Broken Window Fallacy

The Broken Window Fallacy

Hi all,

It was great to meet a number of you at our first meeting last Thursday. A summary of what we discussed is provided below. But first:

This coming Tuesday at 6pm in Case Room 4 of the Business School  (note the room change from that used last week), we will begin looking at specific economics ideas that help us understand the real world around us. This week we discuss The Parable of the Broken Window, also know as The Broken Window Fallacy.

* To what extent do economists commit this fallacy?

* What does the broken window parable tell us about the impact of an earthquake on an economy?

* What are the broader implications of the broken window parable?

Where: Case Room 4, Level 0, Business School

When: Tuesday 8 March, 6:00pm

This last Thursday we ran our first meeting of the year.  We were thrilled to have Sam Stubbs, the CEO and CIO of Tower Investments talk to us about how economics influences the real-life decisions that he and his organisation have to make on a daily basis. Julian Darby of Russell Investments then outlined why economic ideas are important in the real world and why it is important that we are all aware of the range of schools of economic thought that exist. A music video was then shown that illustrates two contrasting views, illustrating to us why it is important that we all investigate and challenge the underlying assumptions of each school of economics.

That video is actually available on YouTube and you can view it by following this link.

http://www.youtube.com/watch?v=d0nERTFo-Sk

Remember to visit – and join – us on Facebook to keep up-to-date with our programme for the year.

http://www.facebook.com/home.php?sk=group_191580464208836

See you next Tuesday.

Regards

Auckland Economics Group

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Categories: Uncategorized
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