Where art thou, Frédéric Bastiat?

Ever wonder why our economy is in the state it's in? The very first paragraph in Walter Williams' recent article, "Economic Lunacy," says it all: "Economic lunacy abounds, and often the most learned, including Nobel Laureates, are its primary victims."

From The Patriot Post:
"Economic Lunacy" by Walter E. Williams
http://patriotpost.us/opinion/walter-e-williams/2011/03/23/economic-lunacy/

Williams is criticizing other economists who believe that the recent devastation in Japan after the tsunami (including the nuclear plant problems) has a silver lining, because it will spur economic activity. This is the same story we have heard after other natural disasters around the world. What are these guys smoking???

Frédéric Bastiat, where are you when we need you? Has everyone forgotten Parable of the Broken Window (in his essay That Which Is Seen and That Which Is Unseen)? What about the Candlemakers' Petition? If some destruction is good, why don't we destroy our own cities more often?

Or, to make it more personal, maybe it would be a very good thing for you if your house burned down tomorrow. I mean, think of all the economic activity that would generate. Does that make any sense to you? Don't be bashful, it's okay to admit it if it does. Because you might have a Nobel Prize waiting for you.