Ricochet is the best place on the internet to discuss the issues of the day, either through commenting on posts or writing your own for our active and dynamic community in a fully moderated environment. In addition, the Ricochet Audio Network offers over 50 original podcasts with new episodes released every day.
The Broken Windows of Harvey and Irma
Every time a big natural disaster strikes, progressive economists predict an economic boom. Between Harvey and Irma, the LA Times, CNBC, and Goldman Sachs expected a bump in the GDP once the recovery efforts got rolling.
Perhaps the best known fan of mass destruction is NY Times columnist Paul Krugman. While he has yet to weigh in on the storms of the past few weeks, I’m sure it’s coming. After all, he found economic growth in Fukushima…
I guess we have to talk about the economic impact of the Fukushima nightmare … Japan will clearly have to spend hundreds of billions on damage control and recovery, even as revenue falls thanks to the direct economic impact … And yes, this does mean that the nuclear catastrophe could end up being expansionary, if not for Japan then at least for the world as a whole.
