After any major disaster-September 11, the Afghan war, a hurricane-attention turns to rebuilding, and, as midnight follows nightfall, all eyes turn to government. How much will the politicians shell out? Which government should bear the burden, federal, state, or local? How much must taxpayers be willing to suffer to restore the shattered infrastructure? How much new money should the central bank provide? These are the wrong questions, and the amazing recovery of New York’s economy shows why. Seven months ago, the city’s two largest skyscrapers, hosting firms that ranked among the world’s most important financial players, fell to the ground, … Continue reading The Market Saves New York