October 24, 2007

Southern California's 'Broken Window'

Posted by Lew Rockwell at October 24, 2007 01:47 PM

Writes Minnesota Chris: "It looks like Bastiat's lesson of the broken window desperately needs to be taught. Check this out:

"In the odd nature of economic accounting, this will probably be a stimulus," said Alan Gin, a University of San Diego economist. "There will be a huge amount of rebuilding in the next couple of years, financed by insurance payments."


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