The topic of economics is not within my usual ambit (I do retain a tangential epistemological interest) but it’s certainly timely and Steve Horwitz always brings an astringency of good sense (however unfashionable that might be) to the knee-jerk economic issues of the day. Because of my passionate interest in New Orleans Steve’s thesis has a great deal of resonance:
New Orleans has had a relatively low unemployment rate since 2005, but I don’t think you can convince anyone there that another Katrina is the path to prosperity.
The perversity of the broken window fallacy finds its analog in a so-called “Keneysian” approach to war. The idea is this. War must surely be the generator of technological innovation while simultaneously attenuating unemployment. Blistering barnacles as Captain Haddock would say.
manwithoutqualities 