There'd be a set of economists who'd sit around explaining that electricity was only four percent of the economy, and so if you lost eighty percent of electricity you couldn't possibly have lost more than three percent of the economy, and there'd be people in Minnesota and Chicago and stuff who'd be writing that paper... but it would be stupid. It would be stupid. And we'd understand that somehow, even if we didn't exactly understand in the model, - https://www.facebook.com/notes/randy-fellmy/transcript-of-larry-summers-speech-at-the-imf-economic-forum-nov-8-2013/585630634864563