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...Kinsley's latest missive in TIME falls prey to one of the oldest traps in economics - Frédéric Bastiat's broken-window fallacy. Just as a broken window creates work for the glazier at the expense of the window owner, money that Kinsley hopes to inject into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went...
...Nadal's exoticism on the tennis court stands in contrast to the conventional life he lives off it. The son of a prosperous family - his father, Sebastian, runs a successful window company, another uncle was a star soccer defender for Barcelona and Spain - Nadal retains the earnest good manners of a middle-class Spaniard. Rebellious in his fist-pumping, swashbuckling play, he dresses smartly for social occasions. He lists his hobbies as golf, fishing and video games, and follows his uncle's rule that he carry his own bags and racquets when at tournaments. He still lives with his parents...
...Kinsley falls prey to Frederic BaStiat's broken-window fallacy. Just as a broken window creates work for the glazier at the expense of the window owner, money that Kinsley hopes to inject into the economy must first be taken out of it. Add in collection costs and the usual political malfeasance, and we have a net loss to the economy. There's more: Kinsley argues that last summer's high oil prices were essentially a tax on consumers; the money just went to oil companies instead of the government. But he forgets that oil companies do not have control...
...hatred for Israel and sympathy for Hamas. It didn't matter if Israeli jets bombed Hamas offices, because cinder-block structures could easily be replaced. And it didn't matter if Israel took out Hamas' leaders, because they were also replaceable. "Any moment, a rocket could come through that window and kill me," Rantissi said, "but even before the smoke has cleared, there will be a replacement ready." What the Israelis didn't realize, he concluded, was that "when they win, we don't lose...
Almost exactly two years later, an Israeli missile did come through the window, killing Rantissi. Only three weeks before, a similar strike had killed Hamas' founder, the paraplegic, blind Ahmed Yassin. The assassinations of its two top men were meant to break the back of Hamas' leadership. But Rantissi was right: he and Yassin were replaced in short order, and Hamas actually grew stronger, more radical and more popular...