Libercontrarian

Crushed between the wheels of capitalism and big government.

Is This Tragedy A Zero Sum Game?

Eric, from Eric's Grumbles Before The Grave, and Russell, from Cafe Hayek, have promoted Bastiat's theory of economics as a likely predictor of the economic effect of the hurricane.

"So, rather than having the enjoyment of the billions of dollars spent on other things, private consumption, investment, research AND New Orleans, we instead will just have New Orleans. The opportunity cost will be enormous. That which is not seen is billions upon billions of dollars not spent on economic growth. Don't make the mistake of thinking that this is a short term negative and a long term positive, economically."

I respectfully disagree. The events which follow the hurricane, the rebuilding efforts, will result in a superior world, assuming they are done by competent men in a morally just manner - now is not the time for the "roof repair hucksters" and sundry other carpetbaggers who always appear on scene whenever disaster-driven opportunity presents itself.

Anyway, here's my response:

"...(L)ike it or not, the loss of conservation serves to compel men to remake, and often in doing so, a better product, by more organized minds utilizing superior technologies and materials, for longer-lasting stuff.

It, as you are often encouraged to remind me, is not a zero-sum game."

posted by: underwhelmed at September 02, 2005 05:53 | link | comments |

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