1. purepedantry
  2. Destruction is not a good way to restart the economy

Destruction is not a good way to restart the economy

By purepedantry on February 6, 2009.

This guy has clearly not read about the broken window fallacy:

Times were so tough for window repairman Timothy Carl Klenke, police say, that he decided to take proactive measures: He armed himself with a slingshot and began cruising around the city, shattering at least five windows and car windshields as he went.

"The statements he gave to officers led them to believe he was out to drum up business and was prepared to go out and do some more damage," Redlands police spokesman Carl Baker said Tuesday.

Witnesses reported seeing Klenke, 50, driving around in his Honda in the areas where the vandalism occurred. When police arrived at his Redlands home, they said, they found a slingshot in his car along with projectiles that matched those used to smash the windows and windshields.

Baker said Klenke, who was arrested Monday, had planned to contact the victims later and offer to repair the windows for a fee.

Hat-tip: Greg Mankiw

Tags
economics

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This reminds me of when Roman firemen started fires, and refused to put them out unless they were paid immeadiately. That was the last time they used the "Pay-per-fire" system.

This was not what Schumpeter meant by "creative destruction".

Every so often, some pundit says after a natural disaster that it will end up being good for the economy, what with the wave of rebuilding that goes on afterwards. Pundits are not very bright, as a rule, but some of them are massively stupid.

By william e emba (not verified) on 06 Feb 2009 #permalink

Slightly recherche: George Bernard Shaw used this concept in "The Apple Cart" for the all-pervasive, Big-Brother-like, and very profitable company Breakages, Limited. (Unfortunately the actual explanation is in the preface, not the play. Guess he was getting on a bit.) Maybe we should buy shares in this guy's company?

Rats, I should have clicked the link before posting. Never mind.

Julius Ceasar, act I, scene I, the masses are marching in the streets:

FLAVIUS. But wherefore art not in thy shop today? Why dost thou lead these men about the streets?

SECOND COMMONER. Truly, sir, to wear out their shoes to get myself into more work. But indeed, sir, we make holiday to see Caesar and to rejoice in his triumph.

In my opinion the largest threat for California are cataclysms and ecological catastrophes. Not important is how many money we have because one tragedy can us take all.