The notion that a massive infrastructure program will yield a net direct increase in jobs is in the process of being demolished, another economic casualty in the path of Hurricane Harvey. No doubt, there will be some news accounts in the future of how massive reconstruction after Harvey boosted local GDP. But the direct economic impact will be net zero: The capital and workers deployed will just draw away resources from other places, other uses and other infrastructure projects that will have to be put off or ignored.
Rebuilding after Hurricane Harvey is a matter of running just to stay in…

More…

Comments are closed.