Rethinking from Stock to Flow P erspective The unfortunate flash flood which devastated the Bhote Koshi–Trishuli corridor on 26 August has reminded that a single calamity which lasts for few minutes can vanish what people, families, businesses and communities have built over decades. The immediate figures of economic losses are washed-away houses, damaged roads and bridges, demolished hydropower facilities, flooded farms and lost livestock, closed businesses and household properties. The very preliminary estimates of loss and damage, which based on reconstruction and rehabilitation costs, suggest that the economic loss is about NPR 400 billion. Although these numbers are necessary but are not sufficient to the whole economic losses. There is a big issue on the methodological approach which is being used for post-disaster assessment of loss and damage. The issue is capturing the value of the flows of income, production, employment and livelihood that were supposed to be generate...