Liberal Paul Krugman: A Massive, Destructive Earthquake would be Great for the Economy

You may be aware that a 5.8 magnitude earthquake struck the east coast yesterday evening.  Luckily, the quake did little damage.  However, you may also be aware that Nobel laureate Paul Krugman is missing a few marbles.  According to him, it is actually a tragedy that the earthquake was not horrendously destructive.

I do not know if I have ever read anything so stupid, but what would you expect from Paul Krugman?  From Google+:

If you aren't an idiot, this is a very clear case of the "Parable of the broken window."  Here is the original text outlining the idea.  Unfortunately, Mr. Krugman is apparently illiterate or simply a moron:

Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier's trade—that it encourages that trade to the amount of six francs—I grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen.

But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, "Stop there! Your theory is confined to that which is seen; it takes no account of that which is not seen."

It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented.

Let me go even further than this convincing scenario.  Suppose the earthquake had heavily damaged a highway.  It might cause the government to spend a few million to fix it up, right?  To Krugman, this would be economic growth.  But he simply does not account for the money manufacturers will lose because they cannot send their products on efficient roadways or the lost time spent on fixing the highway.

Krugman

But on the bright side, someone slammed Krugman and got plenty of kudos from other Google+ readers:

I certainly do not want to know what Krugman thinks of Hurricane Irene.

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