Who's to Blame for All the Heartache? A Response to Anti-Capitalistic Mentalities after Katrina

The International Journal of Social Research, Vol. 35, No. 8, pp. 590-602, 2008

20 Pages Posted: 27 May 2010

See all articles by Daniel Joseph D'Amico

Daniel Joseph D'Amico

Loyola University New Orleans - Joseph A. Butt S.J. College of Business - Economics Department

Date Written: 2008

Abstract

The wake of a natural disaster is a tumultuous setting. Resources are scarce, actions are quick, and emotions are high. Social commentators have often brought complaints against capitalism for promoting greed and selfishness during and after natural catastrophes. Most recently academics have introduced a unique perspective in addition to the more traditional criticisms. They claim that free market advocates have imposed capitalist theories and policies in the wake of crises to the detriment of traditional policies, preferred cultures, and democratically selected institutions. This paper investigates these claims. I argue that the left overlooks the case that capitalism and corporate businesses may be a natural part of local cultures and recovery processes. If such a claim is true, then the normative case against capitalist responses to natural disasters is weaker than has been presented. The two perspectives are speaking past one another.

Keywords: Hurricane Katrina, New Orleans, Capitalism

JEL Classification: R0, Z1

Suggested Citation

D'Amico, Daniel Joseph, Who's to Blame for All the Heartache? A Response to Anti-Capitalistic Mentalities after Katrina (2008). The International Journal of Social Research, Vol. 35, No. 8, pp. 590-602, 2008, Available at SSRN: https://ssrn.com/abstract=1616651

Daniel Joseph D'Amico (Contact Author)

Loyola University New Orleans - Joseph A. Butt S.J. College of Business - Economics Department ( email )

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