Government Spending: Uncovering Hidden Costs
“What Is Seen and What Is Not Seen.”: In the 19th century, French economist Frédéric Bastiat developed a didactic tool that continues to help us better understand — and ultimately better shape — government activity. It is easy to lose sight of the fact that every government expenditure has a “hidden” cost. Considering Opportunity Costs Every Swiss franc can only be spent once. If you subsidize tourism (visible), that money…