Saturday, October 31, 2009

What is Seen and Not Seen

What is seen:

What is not seen:

[Cut and paste a photo of what you would have bought or invested in or invented or the business you could have started if you had more money, i.e. paid less taxes---either directly to the tax boards or indirectly through lost purchasing power due to the Fed's increase in the money supply.]

That Which is Seen and that Which is Not Seen, by Frederic Bastiat, 1850

(For a concrete example of this principle as it relates to the recent Cash-for-Clunkers program, see the latest post by The Rational Capitalist.)

1 comment:

Michael Labeit said...

The tomb of the unknown consumer good...brought to you by the "American Recovery and Reinvestment Act of 2009."