Cash for Clunkers in Action
This video, and many like it, easily available on YouTube, would have Bastiat rolling over in his grave. As Bastiat put it, “destruction is not profitable” (1.18), at least not for society as a whole. The person in the video denounces it eloquently. Notice his understanding of opportunity cost at 0:16 to about 0.20. I would love to teach him economics. He already understands some basics at a gut level. Every one of his f-word usages is justified. I especially like his last statement.
H/T to Brad Smith.