“Glazier” is an allusion to the French economist and author, Frédéric Bastiat (1801–1850) and his “Broken Window” parable. Both Bastiat and this parable reflect his influential philosophy and development of the concepts surrounding opportunity cost as well as the understanding of both the short-term and long-term effects of economic creation and destruction.
The Parable of the Broken Window was introduced by Bastiat in his 1850 essay “Ce qu'on voit et ce qu'on ne voit pas” (That Which Is Seen and That Which Is Not Seen) to illustrate why destruction is not actually a net benefit to society. The parable, also known as the Broken Window Fallacy or Glazier's Fallacy conveys how opportunity costs, as well as the law of unintended consequences, affect economic activity in ways that are "unseen" or ignored.
“The Broken Window,” was the first of a dozen short essays compiled under the heading: What is Seen and What is Not Seen; to which, Bastiat cautions audiences by noting that in order to precisely evaluate the full outcome of an event, one must account for all effects of that event, namely, the obvious (that which is seen) as well as the non-obvious (that which is not seen).
“The Broken Window” instructively notes the precise lesson for critical economic analysis.
Glazier Group and its divisions operate under the same ideology: long-term thinking, across differing asset classes and risks, will keep our firms focused, effective, and efficient.
As a principle of investment performance, asset management, and firm leadership: the Glazier Group always takes into account the costs and benefits of both obvious and non-obvious merits of each committed investment. We find and create value in both the seen and unseen.