And while it's nice to see the media using the Tulsa massacre to finally acknowledge what researchers have long known—that riots can have devastating, long-term consequences for a community—the economic damages of Tulsa do not compare to more recent riots. The riot of 100 years ago caused the modern equivalent of $200 million in damage, compared to $1.4 billion in the Rodney King riots and as much as $2 billion last summer.
Riots, natural disasters and taxes are a double negative for business and societal progress. Not only do they stop it from moving forward but push the needle backwards. I wonder if there are opportunity costs that can be calculated.
In many ways the rate of prosperity is a zero sum game.
Riots in Context
Riots, natural disasters and taxes are a double negative for business and societal progress. Not only do they stop it from moving forward but push the needle backwards. I wonder if there are opportunity costs that can be calculated.
In many ways the rate of prosperity is a zero sum game.