28 ms·
I'm not an economist, but this sort of situation has been considered since the 1800's and is sometimes known as the broken window fallacy: https://en.m.wikiped
by leguminous 3y ago
I'm not an economist, but this sort of situation has been considered since the 1800's and is sometimes known as the broken window fallacy:
https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window
Basically, society is better off using that money for something actually productive, rather than just repairing damage.
> Whence we arrive at this unexpected conclusion: "Society loses the value of things which are uselessly destroyed;" and we must assent to a maxim which will make the hair of protectionists stand on end – To break, to spoil, to waste, is not to encourage national labour; or, more briefly, "destruction is not profit."