2026 and the Return of Bastiat’s Window

Thoughts on rebuilding this newsletter and my life

Frédéric Bastiat and his broken window. Image by Graboyes+ChatGPT.

NEW YEAR’S RESOLUTION

Bastiat’s Window is a much-beloved project for me, but my essays have been few and far-between since my wife, Alanna, died on June 9. Apologies to readers, and especially paid subscribers, for the infrequency of posts during this period. My New Year’s resolution is to once again begin rolling out at least one post each week in 2026—and more when possible. Below, I’ll share some ideas that are likely to become Bastiat’s Window essays in the coming weeks.

For those kind souls who have asked, the shortage of writing hasn’t come from sadness, depression, emotional paralysis, or lack of ideas. Rather, writing time has been scarce because I’ve been relentlessly engaged in building a new life in widowhood through joyful, time-consuming activities. In the next week or so, I’ll post another essay describing some of these activities. Perhaps some readers who are facing loss will find my experiences helpful as they rebuild their own lives.

Another important change is making the task of writing much easier going forward. Writing for me is almost always a collaborative process, and my wife was my muse, fan, critic, editor, and de facto co-author. Without her external input, writing for me became more laborious and less enjoyable. Providentially, since early December, a beloved childhood friend whom I hadn’t seen in over half a century has begun filling those roles—inspiring me each day to turn my thoughts into written words. That happy circumstance, as much as anything, underlies my return to Bastiat’s Window.

---

COMING ATTRACTIONS

Here are some topics that are likely to become Bastiat’s Window posts in the coming weeks:

[1] BAVARIAN SOVIET REPUBLIC 2026: In 1919, a group of young, angry, incompetent communists and anarchists established the Bavarian Soviet Republic in southern Germany and, in doing so, created one of the most unhinged and economically illiterate political entities of the 20th century. Among other things, they:

• promised free money for everyone;

• declared war on Switzerland;

• decreed that no house could have more than three rooms (with a legal mandate that the living room must always be above the bedroom and kitchen);

• formed a cabinet that included at least one convicted criminal (moral turpitude) and one mental patient; and

• sent telegrams informing Vladimir Lenin and Pope Benedict XV that the ousted leader of Bavaria had stolen the key to the restroom when he fled.

In 2026, New York City voters have decided to replicate the Bavarian experience by electing Zohran Mamdani as mayor. Only time will tell whether Mamdani and his friends outdo the Bavarians in their lunacy.

[2] BS, MS, PhD (BULLSH*T, MORE SH*T, PILED HIGH AND DEEP): A friend wrote to tell me that her high-school-age son dreams of getting a PhD in economics and working at a specific governmental institution. My advice to her was that:

• the process of getting a PhD is long, arduous, and risky, so he should think long and hard about going down that path;

• her son should avoid focusing his dreams on one specific employer; and

• whether or not he sets out to get a PhD, he should also sketch out alternative careers that do not involve getting a PhD. Artificial Intelligence (AI) and tight government budgets will likely reduce job openings for PhDs—particularly in a field like economics.

[3] GIVE US YOUR TIRED, YOUR POOR, YOUR GIFTED: Going forward, American healthcare and biotech will depend heavily on the genius, skills, numbers, and poverty-stoked ambition of immigrants. This need will increase in coming decades, and public policy must facilitate their arrival and integration into American society. For a variety of reasons (to be discussed), America will not be able to fill these slots without looking abroad.

[4] IT’S NEVER TOO LATE: In recent months, I’ve listened to an array of brilliant singer/songwriters (e.g., Nick Drake, Linda Perhacs, Vashti Bunyan, Tia Blake, etc.) who only achieved fame many decades after their productive, youthful years—and sometimes after they had already died. This post will include their stories and lessons on persistence and happenstance.

[5] THE TRANSPARENCY CHIMERA: Many health policy advocates (conservatives in particular) believe that mandatory price transparency will push prices downward. There are several reasons to doubt the efficacy of this idea—and to fear that such mandates might actually push prices upward.

[6] MUSICIAN AS MAGICIAN: Since June, I have been deeply immersed in improving my skills as a musician. As I explained to someone, a great challenge in that realm is knowing how (and when) to use subliminal tools to reach the soul of the listener. I’ve come across some splendid videos exploring the psychology of musical works.

[7] IRAN: Not sure yet exactly what I’ll write, but I’ll write something. I’m very much hoping it will be a post-mortem of the by-then-defunct Islamic Republic.

---

BASTIAT’S PARABLE OF THE BROKEN WINDOW

For those who aren’t sure why this publication is called Bastiat’s Window, here are some brief explanations. In short, when a hurricane destroys a town, don’t ever say, “Well, the silver lining is that the cleanup will create jobs.” Here’s a 51-second explanation of why you should never cite that nonexistent silver lining:

And here’s a 23-second version:

And here’s the three-minute version:

Or, as Henry Hazlitt put it in 1946:

“The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and indirect consequences. The bad economist sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups.”

Bavaria in 1919 and New York City in 2026 come to mind.

---

BASTIAT’S WINDOW publisher Robert F. Graboyes is an economist, journalist, and musician whose five degrees include a PhD in economics from Columbia University. An award-winning professor, he received the Reason Foundation’s 2014 Bastiat Prize for Journalism. His musical compositions are on YouTube.