Obama’s Broken Window
Conn Carroll /
Reason’s Jacob Sullum does a great job applying some good old fashioned common sense to ridiculous lefty claims about “green jobs“:
Obama says he will “transform the challenge of global climate change into an opportunity to create 5 million new green jobs,” which he likens to the economic activity triggered by the personal computer. This way of looking at climate change is a variation on the broken window fallacy, according to which the loss caused by a smashed window is offset by the employment it gives the glazier.
By the same logic, Obama should view war, crime, and hurricanes as opportunities to create jobs. All three generate economic activity, but we’d be better off if the resources spent on bombs, burglar alarms, and reconstruction were available for other purposes, instead of being used to inflict, prevent, or recover from losses. … Paying people to dig holes and fill them in again also creates “jobs that can’t be outsourced,” but that doesn’t mean it’s a smart investment or an appropriate use of taxpayers’ money.