Okay, today in "Ellie tries to understand financial markets," why is the Coronavirus tanking stocks? 1) it's not going to, like, kill all the consumers 2) it will increase health care costs, and health care is part of financial markets So I'm confused?
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It looks like I've created positive economic activity by breaking the window - some glazier gets a job to do and gets paid to do it and passes on the money to a company that makes windows and they all spend that money on other stuff etc But it's a net loss in the big picture
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In this case you're talking about a VERY LARGE broken window fallacy If there's a plague and a bunch of people are in the hospital the value of the work they'd be doing otherwise at their jobs greatly outweighs the boost to the economy paying doctors to care for them
End of conversation
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