Hurricane Sandy’s outcomes
Nov 17th, 2012 by asfvinpugunisparam
Based on Loh, Wil Fred blog “Hurricane Sandy : An Unexpected Financial Crisis“, Hurricane Sandy has destroyed countless homes and reaped numerous lives in North America. Besides that, it has also caused the Wall Street to close for a full two days. As Wall Street closes down for a couple of days, the shares and stocks began to tumble and this has caused a rather severe financial crisis. This coupled up with the damages that Sandy has caused are the Financial Crisis that was described by Loh, Wil Fred. However, although the total damage that Sandy has caused surpasses billions of dollars, i believe that it is not all bad news. According to the article “Against the Hurri-Keynesians” by Mark Thornton, the damage caused by the natural disaster could boost up the wage and demand for labor. This would prove to be a good thing for the economy and finance of the country because of the decrease in unemployment and increase productivity in the economy. Nevertheless, the silver lining to the disaster is not always applicable and with a natural disaster a country could also fall into bankruptcy.
http://mises.org/daily/2959