According to Chris Isidore over at CNN:
Economists agree that in the long run, a major hurricane or other natural disaster can actually help lift economic activity because of insurance payments and federal assistance.
In the short-term, the destruction and the disruptions can be a hit to the economy.
Anyone who believes this nonsense has no business calling themselves an "economist". Destruction of life and property is always economically harmful as it destroys wealth. Beware: the next "stimulus" package may involve burning down houses and shooting the population to "lift economic activity".
1 comment:
I enjoy Chris Isidore's failure to find a single economist to quote in support of that statement.
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