Monday, September 1, 2008

Gustav is economically positive!

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:

Mark said...

I enjoy Chris Isidore's failure to find a single economist to quote in support of that statement.