Broken Windows and Gustav
It's already begun!
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...
Ludwig von Mises Institute - Tu Ne Cede Malis
Advancing the scholarship of liberty in the tradition of the Austrian School.

It's already begun!
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...
Comments (14)
Manuel Lora
Destroy us all into prosperity!
Published: September 1, 2008 5:12 PM
scineram
A joke that never gets old.
Published: September 1, 2008 5:17 PM
Chris
I love the statement "Economists agree...."
Surely there must be an economist somewhere who disagrees.
Published: September 1, 2008 5:29 PM
Matt
Which stupid economist did they name?
Published: September 1, 2008 5:40 PM
Inquisitor
Which "economists" would these be?
Published: September 1, 2008 6:18 PM
Brent
The lack of a distinction between wealth and income persists, while the current and future losses of income from the capital destruction and lost labor time remain unseen.
Published: September 1, 2008 8:45 PM
newson
...proving, yet again, the necessity on the part of libertarians to discredit gdp as a valid measure of economic growth.
Published: September 1, 2008 9:20 PM
nicholas gray
Just put this forward as another excuse for governments to use for ignoring global warming! "Well, gee, even if it happens, it'll be good for the economy! Reconstruction will galvanise the economy, and our policy of Masterful Inaction did the job!"
Published: September 1, 2008 10:36 PM
Michael E. Lawrence
I wonder what the insurance companies think of the broken window fallacy.
Published: September 1, 2008 11:30 PM
James
If anyone would like to try to set Mr. Chris Isidore of CNN Money straight you may email him at chris.isidore@turner.com
Published: September 2, 2008 12:18 AM
James
But, go easy on him as it seems his primary function is to write a "sportsbiz" column: http://money.cnn.com/commentary/column_sportsbiz/
Published: September 2, 2008 12:20 AM
theblob
This is really the most fallacious and persistent idea I've ever encountered. Wasn't this already addressed 300 years ago?
Do we have to go over Lamarckian evolution again? Is flying to the moon possible with gunpowder?
Published: September 2, 2008 3:10 AM
Justin
Etienne de la Boetie discussed voluntary servitude 400 years ago, but sadly we still engage in it as well.
I would settle for the broken window fallacy as the most fallacious and persistent idea if we could get rid of the even greater evil of our enslavement via taxes on property and our labor.
Published: September 2, 2008 4:24 AM
theblob
Justin, you are, of course, correct.
And thanks for the tip, I'll have never read "Discourse of Voluntary Servitude".
Published: September 2, 2008 11:12 AM