Chaiechi, Taha (2020) Preface. Economic Effects of Natural Disasters: theoretical foundations, methods, and tools. In: Chaiechi, Taha, (ed.) Economic Effects of Natural Disasters: theoretical foundations, methods, and tools. Elsevier, London, UK, xxv-xxvi.

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Abstract

[Extract] One can apply Frederic Bastiat's parable of the broken window to any amount of destruction in the form of intended or unintended consequences, with the former extensively explored in the works of mainstream economists. The Austrian-American economist, Joseph Schumpeter (1942), for instance, derived the term "creative destruction" to refer to outdated production units that are replaced by new production mechanisms through the innovation process.

Item ID:	64618
Item Type:	Book Chapter (Scholarly Work)
ISBN:	978-0-12-817465-4
Copyright Information:	Copyright © 2021 Elsevier Inc. All rights reserved.
Date Deposited:	19 Oct 2020 00:57
FoR Codes:	14 ECONOMICS > 1499 Other Economics > 149999 Economics not elsewhere classified @ 100%
SEO Codes:	91 ECONOMIC FRAMEWORK > 9199 Other Economic Framework > 919999 Economic Framework not elsewhere classified @ 100%
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