Quote:
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Krugman wrote, "Ghastly as it may seem to say this, the terror attack -- like the original day of infamy, which brought an end to the Great Depression -- could do some economic good." He went on to point out how rebuilding the destruction in New York and Washington, D. C., would stimulate the economy through business investment and job creation.
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Classic
broken window fallacy. (funny...just noticed that this same Krugman quote is actually cited in the wikipedia article on the parable of the broken window as a classic example of a broken window fallacy....great minds)
It's really astounding that a Nobel prize winning ny times op-edding economist can be this bad. It's typically Keynsian, unfortunately...