The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne

Exercise 24

See if you can clarify this analysis: "If half of our forests were destroyed in a fire, the value of the remaining lumber would be greater than the value of all the lumber in the country before the fire. This absurdity- that the whole is worth less than a half-shows that values are distorted in a market economy."