Economics
After Sandy's Pain, There Will Be Gain
Hurricanes often trigger a burst of rebuilding and spending
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In terms of sheer size (1,100 miles from end to end) and the number of people in its path (some 60 million), Hurricane Sandy was the biggest storm ever to hit the East Coast of the U.S. Estimates of its devastation range from $30 billion in destroyed property and lost business activity to as much as $50 billion. Whatever Sandy’s ultimate price tag, it’s a huge number. But as devastating as it was, Sandy’s impact to the national economy will likely be negligible: The short-term loss to economic output should be made up by long-term spending to rebuild.