Wednesday, April 03, 2013

On the resilience of economies: npr on coney island

One heartening thing about modern economies is that negative shocks (super storms, tsunamis, fukushimas) don't seem to have lasting effects. The long term trend line will show a momentary dip, but economic activity tends to return to the same trend line as if nothing had happened. Planet Money covers this nicely through the metonymy of Coney Island.

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