Minneapolis: Economics of Rioting - A Case Study | Insurance, Rioting, Protests,George Floyd,St Paul

Insurance doesn't justify rioting. I will explain the economics of rioting with a case study analysis of Minneapolis in the Saint Paul area. With the death of George Floyd, there were mass protests, sadly it bring with it riots that damaged Minneapolis, specifically the Saint Paul area. With $500 million in damages, 1500 properties and 400 businesses damaged, the riots have significantly damaged Minneapolis. This of course doesn't include riots in other areas of America. Minneapolis had significant economic stats with beinh the 2nd biggest economy in the Midwest, 4th biggest financial hub, 13th biggest US metropolitan economy, and $26000million GDP.

Sources:
1500 Properties damaged:
https://www.startribune.com/two-twin-cities-suburban-men-face-federal-arson-charges-in-fire-during-george-floyd-riots/572186872/
$500 million in damages & 400 businesses damaged:
https://www.startribune.com/twin-cities-rebuilding-begins-with-donations-pressure-on-government/571075592/
Minneapolis Medical Manufacturer:
https://crossbordergroup.wordpress.com/
Finance hub and Midwest:
https://pocketsense.com/financial-hubs-8292.html
Metropolitan Area:
https://www.startribune.com/6-midwestern-takeaways-on-the-new-local-economic-data/394150281/
Minneapolis GDP:
https://fred.stlouisfed.org/series/NGMP33460
Lack of Insurance:
https://www.startribune.com/skyrocketing-demolition-costs-for-riot-damaged-properties-delay-rebuilding/572269302/?refresh=true
44% of small businesses uninsured:
https://www.nextinsurance.com/blog/small-business-insurance-report/
3 Years til Business makes a profit:
https://fleximize.com/articles/001494/when-will-your-startup-start-making-a-profit#:~:text=It%20can%20take%20time,metric%20you%20should%20focus%20on.
USA Today Article:
https://eu.usatoday.com/story/news/nation/2020/06/01/george-floyd-protests-riots-minneapolis-small-businesses/5300736002/
National Review Article:
https://www.nationalreview.com/2020/09/minneapolis-riots-economic-impact-will-haunt-city-for-decades/
Twitter: https://twitter.com/TThiruseelan
Music: Eyes of Glory by Aakash Gandhi

#riots
#Minneapolis
#protests