Palumbo: The Broken Window Fallacy and “Blessings” of Destruction in the Real World

07/15/2015 Mises Wire Mises Institute

Mises Daily Wednesday by Matt Palumbo:

It’s been a light season for hurricanes and tropical storms in North America, and contrary to what many economics “experts” may think, that’s a good thing. After all, natural disasters are extremely costly in terms of opportunity costs and capital.

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