Katrina: Private Enterprise, the Dead Hand of the Past, and Weather Socialism; An Analysis in Economic Geography
11 Pages Posted: 8 Jul 2011
Date Written: July 6, 2011
The market, not the government, is that last best hope for actual and future potential victims of hurricanes. State subsidies have perverted locational settlement decision-making. They have acted in such a manner as to encourage people to build in more dangerous areas than they otherwise would have. By the government undertaking part of the costs of rebuilding in the aftermath of storms, it has encouraged irrational settlement patterns, which have led, in turn, to needless loss of life and wealth.
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