It’s been a rough week here with my younger sister’s very unexpected passing. That has made it hard for me to get more in depth writing done. However, these lyrics came to mind as I was singing during my household chores. I know my sister would have laughed at this song. We enjoyed discussing these kinds of things together.

My recording area is not set up for great singing sound, but it was still fun to do with a karaoke track that I downloaded. And it makes me smile.

(to the tune of You’re No Good, as recorded by Linda Ronstadt)

Feeling better, now that I know

Feeling better ’cause I don’t have to throw

A rock through a window, it’s basic econ

Keynes and Krugman are so very wrong

You’re so wrong

You’re so wrong

You’re so wrong

Krugman, you’re so wrong

I’m gonna say it again

You’re so wrong

You’re so wrong

You’re so wrong

Krugman, you’re so wrong

He broke a window that was working well

He broke them all hoping that he could sell

More new windows, he stole our money

Now we can’t buy other things we need!

You’re so wrong

You’re so wrong

You’re so wrong

Krugman, you’re so wrong

I’m gonna say it again

You’re so wrong

You’re so wrong

You’re so wrong

Krugman, you’re so wrong

(interlude)

It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way which this accident has prevented. – Fredric Bastiat

I’m clicking all your links and they don’t really say

What you want me to believe, oh the mind games you play!

You’re so wrong

You’re so wrong

You’re so wrong

Krugman, you’re so wrong

I’m gonna say it again

You’re so wrong

You’re so wrong

You’re so wrong

Krugman, you’re so wrong

oh, oh

You’re so wrong

You’re so wrong

You’re so wrong

Krugman, you’re so wroooooong

(musical ending)

Yet for those economists who reject such a notion and instead think that markets can use resources efficiently when they are left alone, there is no upside at all to destructive events. Even though we can imagine situations in which these events confer benefits to particular groups, on net society is always made poorer, because the necessity of applying more labor power — just to return to the status quo in terms of tangible wealth — is a cost of the episode, not a benefit. Other things equal, we are better off when people have to work less to achieve a given level of wealth or flow of consumption. – Robert P. Murphy

(reading taken from this mises.org article by Robert P. Murphy that quotes Fredric Bastiat on his broken window fallacy while clarifying whether or not Krugman claimed that an alien invasion would be good for the economy…)