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Yes, you did. >>>"If you reduce residential use by 25%, there is no impact to the economy -- actually there is a boost because of the increased revenues for la
by nickff 10y ago
Yes, you did.
>>>"If you reduce residential use by 25%, there is no impact to the economy -- actually there is a boost because of the increased revenues for landscapers and home improvement stores."
- jedberg 10y agoActually no I didn't. There is in fact an increase in economic activity, there just isn't an increase in wealth. And I never said there would be.
- nickff 10y agoThis argument is addressed in the 'opportunity cost' section of the "Parable of the Broken Window" Wikipedia page.[1] Briefly, the economic activity is most apparent when spent replacing the broken window, while the opportunity costs are more diffuse, as that money may have been spend in small amounts on other things, but there is no overall increase in economic activity, only a transfer. [1] https://en.wikipedia.org/wiki/Parable_of_the_broken_window#The_opportunity_cost_of_war https://en.wikipedia.org/wiki/Parable_of_the_broken_window#T...