By Peter Morici
Hurricane Sandy will have a devastating impact on life and property. However, gauging its ultimate impact on an economy -- still struggling to overcome the Great Recession but with substantial resources to overcome adversity -- is far more complex than merely adding up insurance payouts and uninsured losses.
Disasters can give the ailing construction sector a boost, and unleash smart reinvestment that actually improves stricken areas and the lives of those that survive intact. Ultimately, Americans, as they always seem to do, will emerge stronger in the wake of disaster and rebuild better-making a brighter future in the face of tragedy.
Sandy is unusual storm and complex to gauge. Coming late in the season and combining with cold fronts to the west and north, it is really a post-tropical cyclone and has the potential to deliver epic destruction. However, coming so soon after Irene in August 2011, the level of anticipation and preparedness demonstrated byRead More »from The Economic Impact of Hurricane Sandy … Not All Bad News