[jackdied.com] Bad economics all around

Bad economics all around

[andrewdied]

Dec 30 2004, 10:55 EST [updated Dec 30 2004, 12:44 EST]

Christopher Wesley at mises.org has an article that yet again exposes cretins who think Bastiat's broken window theory is garbage. This time the yahoo was on NPR's morning edition. You can listen to C. Fred Bergsten here.

Short version of the NPR report: everyone should be pleased about the 100,000+ deaths and massive destruction from the tsunami, since it will generate lots of economic growth. If this were true, then we'd have statues up for serial killers and arsonists.

[jackdied] The mises guy is right on that front, but smoking a little crack of his own.

For instance, as horrific as the loss of human life resulting from last week's tsunamis is, it doesn't come close to the loss of innocent human life that has resulted from U.S. intervention in Iraq since the 2003 invasion.

Umm, what?!. Over 100,000 people are dead from the Tsunami (and rising). The Iraq numbers have been reported around 10,000 in large news outlets (I'm sure you can find a blog that says a Million). "doesn't come close" to the number killed in Iraq? I guess "not close" could mean "much much more" but I don't think he meant that. I know the mises folk hate the war but I hate it when they tarnish an otherwise good piece with random vitriol.

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Bad economics all around [andrewdied] Dec 30 2004, 10:55 EST [updated Dec 30 2004, 12:44 EST] [permalink] Christopher Wesley at mises.org has an article that yet again exposes cretins who think Bastiat's broken window theory is garbage. This time the yahoo was on NPR's morning edition. You can listen to C. Fred Bergsten here. Short version of the NPR report: everyone should be pleased about the 100,000+ deaths and massive destruction from the tsunami, since it will generate lots of economic growth. If this were true, then we'd have statues up for serial killers and arsonists. [jackdied] The mises guy is right on that front, but smoking a little crack of his own. For instance, as horrific as the loss of human life resulting from last week's tsunamis is, it doesn't come close to the loss of innocent human life that has resulted from U.S. intervention in Iraq since the 2003 invasion. Umm, what?!. Over 100,000 people are dead from the Tsunami (and rising). The Iraq numbers have been reported around 10,000 in large news outlets (I'm sure you can find a blog that says a Million). "doesn't come close" to the number killed in Iraq? I guess "not close" could mean "much much more" but I don't think he meant that. I know the mises folk hate the war but I hate it when they tarnish an otherwise good piece with random vitriol.	Current Quickies Archives All Posts Jun 2010 May 2010 Apr 2010 Mar 2010 Feb 2010 Jan 2010 Dec 2009 Nov 2009 Oct 2009 Sep 2009 Aug 2009 Jul 2009 Jun 2009 May 2009 Apr 2009 Mar 2009 Feb 2009 Jan 2009 Dec 2008 Nov 2008 Oct 2008 Sep 2008 Aug 2008 Jul 2008 Jun 2008 May 2008 Apr 2008 Mar 2008 Feb 2008 Jan 2008 Dec 2007 Nov 2007 Oct 2007 Sep 2007 Aug 2007 Jul 2007 Jun 2007 May 2007 Apr 2007 Mar 2007 Feb 2007 Jan 2007 Dec 2006 Nov 2006 Oct 2006 Sep 2006 Aug 2006 Jul 2006 Jun 2006 May 2006 Apr 2006 Mar 2006 Feb 2006 Jan 2006 Dec 2005 Nov 2005 Oct 2005 Sep 2005 Aug 2005 Jul 2005 Jun 2005 May 2005 Apr 2005 Mar 2005 Feb 2005 Jan 2005 Dec 2004 Nov 2004 Oct 2004 Aggregators Instapundit Arts & Letters Daily Fark.com CNN FoxNews Content - Articles National Review Tech Central Station Content - Big Blogs National Review Volokh Conspiracy Content - Blogs Junk Yard Blog Mass Backwards Mass Right Thought Mesh Chicago Boyz
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