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Will Riots and Destruction Stimulate The Economy?

The idea that a city being burned and looted and destroyed like has been happening in all over the country could be an economic blessing sounds ridiculous—right?

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But this is exactly what many economists and politicians have been repeating for 100 years. All being trained in a version of economics from John Maynard Keynes

But could the destruction and rebuilding of a city bring new jobs and work, really be a good thing? A NET positive?

If you watch my videos, you know we are about to go back in time, let’s jump in the time machine and dial back to 1850. Frédéric Bastiat wrote an essay titled “That which is seen and that which is not seen” and wrote about the parable of the broken window

I will give you the cliff note version:
a shopkeepers son is playing around and breaks a window, the people in the shop all tell the shopkeeper its unfortunate, but, if windows never broke, how could the window guy feed his family, and this point of view illustrates how our economy thinks

If the window guy charges $10, the shopkeep pays him, it keeps money circulating in the economy, now the window guy can pay the butcher for his food, the butcher can pay the tailor for his clothes

but this only covers what is seen, and misses what is not seen. Because the shopkeeper “HAD TO” Pay $10 on a new window he “CANNOT” spend it on another item. if he didn’t have to replace the window, he might have purchased new shoes or purchased a new book, basically, he would have spent the $10 somewhere else

But when he spends the $10 to replace the window, he ends up with neither shoes, or a book, he has no more or less than before, just the same window he already had.

so in summary, society loses the value of things that are uselessly destroyed. Money changing hands doesn’t mean value is being created
or an economy is healthy

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Disclaimer: I am NOT a financial advisor, and nothing I say is meant to be a recommendation to buy or sell any financial instrument. I will NEVER ask you to send me money to trade for you. Please report any suspicious emails or fake social media profiles claiming to be me. Don’t invest money you can’t afford to lose. There are no guarantees or certainties in trading or investing.

My videos may contain affiliate links or sponsorship’s to products I believe will add value to your life and help you in trading. No matter what I or anyone else says, it’s important to do your own research before making a financial decision involving cryptocurrencies.

#stimulus #budgetdeficit #economy

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