Please explain the broken window fallacy and how it can be used to explain the hidden costs of price fixing, minimum wages, and inflation.
I think it is a good idea to remind people to look beyond the impact of those immediately affected by a specific government policy. It is easy to see employment in an industry that is protected by tariffs. However, it is not easy to see how that impacts job creation in other industries, government revenues, wages, productivity, and standards of living (for instance).

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Wasib Rehman commented
This discussion brings a valuable reminder about the unseen ripple effects of economic policies like minimum wage laws, tariffs, and inflation. The Broken Window Fallacy is a great way to understand how focusing only on the visible beneficiaries—like the jobs saved by tariffs—can distract from the long-term economic distortions and missed opportunities in other sectors. It's important to consider how policies that seem helpful on the surface may come with hidden costs that affect the broader economy in complex ways.
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