I’ve run across very few good cartoons about Keynesian economics. If my aging memory is correct, I’ve only posted two of them.
But at least they’re both very good. We have one involving Obama, sharks, and a lifeboat, and another one involving an overburdened jockey.
Now we have a third cartoon to add to the collection.
To provide a bit of additional background, the cartoon is channeling Bastiat’s broken-window insight that make-work projects don’t create prosperity, as explained in this short video narrated by Tom Palmer.
I make similar points in this post mocking Krugman’s wish for an alien invasion and this post explaining why Obama’s green energy programs lead to net job destruction.
P.S. This Wizard of Id parody is the best cartoon about economics, but it teaches about labor markets rather than Keynesianism.
Step 1 – Break glass
Step 2 – Sweep up and discard broken glass
Step 3 – Pay for replacement glass
There! Now you’re in the exact same state as before step one, only poorer.
Sean is right. Now you are poorer and can’t afford to buy the new keyboard your computer needs. Or the bottle of baby formula your child needs. Or to pay for the electric bill.
All left wing economic ideology is based upon variations of the broken window fallacy of wealth creation. If you think labor creates value, then breaking the glass requires labor, and wealth appears to have been created. The realist focuses upon the capital goods, and finds that there is no net gain, and that capital has been redirected for no good reason.
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