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Part 1: Key Concepts
Part 2: Progress
Part 3: Understanding Trade
Part 4: Trust, Agency, and Bystanders
Part 5: Management of a Commercial Society
Part 6: Personal and Business Finance
Part 7: Innovation and Entrepreneurship
Table of Contents
Broken Windows Fallacy
John Stossel's Broken Window Fallacy
John Stossel explains the broken window fallacy in this brief video.
Will Hurricane Cleanup Stimulate the Economy?
Hurricane Irene is likely to cost billions of dollars. The storm did damage but not as much as some had feared. Will the sales of batteries and flashlights – and then repair costs – give the economy a needed boost?
What is Seen and What is Unseen
Claude-Frédéric Bastiat was a french economist and writer. One of his most famous works, "What is Seen and What is Unseen", introduced the idea of opportunity cost, although it wouldn't get that name for more than sixty years.
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