Katrina: Private Enterprise, the Dead Hand of the Past, and Weather Socialism; An Analysis in Economic Geography

11 Pages Posted: 8 Jul 2011

See all articles by Walter E. Block

Walter E. Block

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

Date Written: July 6, 2011

Abstract

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.

Suggested Citation

Block, Walter E., Katrina: Private Enterprise, the Dead Hand of the Past, and Weather Socialism; An Analysis in Economic Geography (July 6, 2011). Available at SSRN: https://ssrn.com/abstract=1880102 or http://dx.doi.org/10.2139/ssrn.1880102

Walter E. Block (Contact Author)

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

6363 St. Charles Avenue
Box 15, Miller 321
New Orleans, LA 70118
United States
(504) 864-7944 (Phone)
(504) 864-7970 (Fax)

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