University of Maryland Economist Peter Morici suggested on MSNBC today that Hurricane Irene will actually boost the economy, in spite of its devastation.
After infrastructure is destroyed in natural disasters, Morici told MSNBC, “we generally rebuild better than before.” Morici said that spending on new roads, bridges, and other infrastructure could total as much as $20 billion. “We’ll not only rebuild, but we’ll get a multiplier effect, and we’ll get more capital,” the Maryland professor said.
