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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (751616)11/7/2013 4:26:22 PM
From: neolib1 Recommendation

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bentway

  Read Replies (2) of 1577025
 
Lets extend it a little. Do you agree that someone not just breaking my window, but in fact completely destroying my home, and in fact, stealing my land to boot might boost GDP?

That is what happens in China, and does contribute to their rate of growth. As a matter of fact, the SCOTUS ruled that the US Constitution doesn't provide any protection from the same thing happening in the USA. Twas about an argument in RI or Connecticut where some developers wanted to do great things (and make nice profits) off some other peoples property and the city agreed they could do it. For that matter, a former Pres of the United States once built a Stadium for his sports team doing the same thing. Now tis true in the USA those stealing others land to enrich themselves are required to pay some compensation, but the compensation is generally well below what they themselves expect to make of the property they are taking by force. The boost to GDP however doesn't depend much at all on whether the victim got no compensation or a little compensation. The fact remains that one can cause economic growth by destroying certain assets and replacing them with more productive ones, and it doesn't depend on the state of mind of the victim.

But the point remains that just because you think by "common sense" that someone destroying your property against your will can't possibly be a boost to the economy doesn't make it true. The only way you can actually figure that out is to follow all the consequences. It can be a bit tedious of course...
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