Economic Impact of Natural Disasters Essay

Free Articles

Natural catastrophes are calamities hauled by the nature on adult male. They may convey about big graduated table devastation depending on the type of natural catastrophe. Natural catastrophes include a scope of jeopardies which may do widespread desolation and homo and animate being casualties. They range from inundations. temblors. hurricanes. cyclones. twisters. tsunamis. avalanches. volcanic eruptions. dearth. heat moving ridge and drouths etc. Natural catastrophes in the yesteryear were largely unpredictable nevertheless. with the promotion of scientific discipline and engineering legion reliable ways of antecedently observing the possibility of natural catastrophes have developed.

However. even with the innovation of modern scientific ways and pre-disaster readyings. human societies are non wholly safe from the awful results of the catastrophes. The catastrophes bring with them immense devastations to set down. belongings. human lives and the economic system of part concerned. Natural Disasters are non merely destructive for the land. people and edifices ; they are besides at times economically stultifying. “Natural catastrophes affect people and their supports or their ability to gain a life and back up their households.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

Ultimately. so. terrible natural catastrophes non merely destroy people and belongings. they besides affect the economic system of the affected part. ” ( Stoltman. Lidstone and Dichano p. 297 ) Disasters heavy load on the economic system of the authorities since it has to do immense pecuniary outgos on the recovery of the catastrophe-stricken country and rehabilitation of the exploited population. “These actions may take to the delay of or forsaking of planned investings. decreases in the commissariats of public services and postponement of pay and salary additions and of staff assignments. ” ( Benson and Clay P.

29 ) This may intend immense losingss will be incurred to the economic system from this facet every bit good in the long tally. It is besides believed that since in modern times the possible happening of a catastrophe can be predicted. the authorities has to take safety stairss which besides incur immense costs ; though these safety steps may non even be able to to the full protect the country from devastation. which is true in most instances. Hence the cost spent of safety steps is besides about lost. In the United States natural catastrophes have been quite frequent and the authoritiess during different times have been able to get by with the economic emphasis brought approximately by the catastrophes.

However. sometimes exclusions did be particularly in the yesteryear when the engineering was non every bit developed as it is today and the gait with which the rehabilitation should happen was non every bit fast as in today’s advanced society. America has faced all sorts of catastrophes from inundations. hurricanes. cyclones. volcanic eruptions to heat moving ridges. snowstorms and tsunami. Hurricanes and cyclones have been more frequent in some countries prone to such type of catastrophes. North America particularly the United States has by and large been successful in keeping down the decease tolls even in really destructive incidents.

( Stoltman. Lidstone and Dechano p. 323 ) Some natural catastrophes which occurred in the United States are being discussed from the point of position of the economic devastation they brought. Super Outbreak The largest and the worst known and recorded eruption of a series of twisters over a period of 24 hr in about 13 provinces of USA took topographic point on 3rd and 4th of April. 1974 and are known as the ace eruption. It is believed by some to the “worst out interruption of the twentieth century” .

( Super Outbreak NOAA ) 148 confirmed twisters caused widespread harm and devastation in Illinois. Indiana. Michigan. Ohio. Kentucky. Tennessee. Alabama. Mississippi. Georgia. North Carolina. Virginia. West Virginia. and New York. It extensively damaged about 900 square stat mis ( 1. 440 square kilometres ) along a entire combined way length of 2. 600 stat mis ( 4. 160 kilometer ) . ( Super Outbreak Wikipedia ) . Reported to hold begun around the afternoon and continued for a immense continuance of 18 hours. the ace outbreak lead to big figure of casualties. injured and great loss to the edifices and gross.

Harmonizing to the statistics caused 315 to 330 people’s deceases wholly in all the affected provinces. 5. 484 victims were injured and 27. 590 households suffered the losingss of the catastrophe. Overall estimated harm ranges from $ 3. 5 billion to $ 6. 0 billion harmonizing to changing beginnings. ( Statistics taken from “Super Outbreak” Wikipedia and NOAA ) . Most of the losingss incurred were due to the belongings harm. harm to basic installations of life like roads. rail paths which form the agencies of communicating to other countries were badly affected.

Tornados incurred maximal harm in countries where their strength was at their extremum. “Hanover was 90 % damaged and destroyed. ” ( Super Outbreak Wikipedia ) The undertaking of rehabilitating the countries was non a little one ; in fact it spread over 13 US provinces and a heavy load was on the authorities. The estimated cost of the harm to the Hanover College entirely was about $ 10 million. ( Super Outbreak Wikipedia ) Estimated harm to approximately 11 schools amounted to $ 7. 705. 000 in entire with some schools non being included in the list.

( Super Outbreak NOAA ) Rebuilding immense constructions is a humungous undertaking. The recovery of all the basic installations of life like handiness of nutrient. H2O and shelter and agencies of communicating along with the handiness of electricity ; all had to be provided expeditiously and efficaciously to all the victims of the catastrophe. In add-on the medical costs of those injured had to be met by the authorities. Measures had to be taken to forestall disease epidemics from break outing in countries confronting sanitation jobs.

These costs were those which had to be used in investings and on other progressive developmental undertakings. nevertheless. due to the catastrophe a immense sum was now spent on rehabilitation and recovery of victims of the ace eruption. This did non set a impermanent load on the government’s economic system but really affected all those possible ways of economic advancement which were being sought through future investing programs. Louisiana Flood 8th May. 1995 “The United States has a long history of trying to cover with jeopardies get downing with inundations and focal point has been on extenuation.

” After experimenting with dikes. levees besides became discredited after the outgo of $ 200 million in 1927. “That twelvemonth a monolithic inundation left 250 dead and 700. 000 temporarily homeless. ” ( Stoltman. Lidstone and Dechano p. 326 ) This proved that no affair what preventative steps may be taken. the losingss incurred by the natural catastrophes ( may they be losingss of life or economic losingss ) can non be to the full prevented. Another immense catastrophe experienced in the history of natural catastrophes in the USA was the Louisiana inundation of 1995. The implosion therapy was really on set by inordinate continued raining from 7th till 8th of May. 1995.

Cities like Jefferson Parish and Orleans Parish. including the metropoliss of New Orleans. Metairie. Kenner. River Ridge. Harahan. Slidell. and Covington etc. All these countries were badly affected and experienced immense losingss due to the inundation. Six people died as a consequence of the implosion therapy. The metropolis of New Orleans suffered $ 360 million in amendss. and the harm of the environing countries put that entire above $ 1 billion. Some 56. 000 places were damaged in 12 Parishs. Thousands of autos were flooded. 14. 600 places and flats were flooded in Jefferson Parish.

The cause of the monolithic rain autumn sums was a stalled out frontal system from the northwest. It produced a train consequence. in which rain and/or electrical storms continued to organize over the same country. Pumping Stationss were overwhelmed and could non pump out the H2O into Lake Pontchartrain. The pumping Stationss are merely rated to pump one inch per hr upper limit. ( May 8th 1995 Louisiana Flood Wikipedia ) In add-on to run intoing the immense costs of Restoration of normal life criterions. the authorities was besides concerned to take stairss to forestall such black conditions every bit much as possible in the hereafter.

The states economic system was one time once more weighed down by the duty of taking prospective and effectual safety steps. Such ruinous rainfall inundations were planned to be prevented by constructing high bing much more effectual pumps to take the rain H2O before physique up develops. 1994 Northridge Earthquake The Northridge temblor happening on the January 17th 1994 caused big scale desolation and a batch of economic harm every bit compared to its comparatively low strength of 6. 7 on the Richter graduated table and low continuance.

“Yet in footings of fiscal losingss Northridge is one of the worst catastrophes in US history. 57 people were killed and 72 deceases were attributed to the temblor. 11. 800 people received hospital intervention for hurts and 22. 000 people were left homeless. ” ( Petak and Elahi Northridge temblor USA ) Direct losingss. like amendss to residential and commercial edifices. roads and Bridgess. agencies of telecommunication. agribusiness and line of lifes ( like H2O supply and sewage lines were damaged ) etc wholly amounted to $ 41. 8 billion.

Infrastructural losingss like H2O. gas and power demanded immediate action merely as the deliverance and recovery of those trapped. Basic necessities of life had to be provided without hold merely every bit immediate medical intervention was indispensable for the injured. “Life line harm was estimated $ 2 billion but subsequently was found to hold exceeded. ” ( Petak and Elahi Northridge temblor USA ) Damage to schools was besides dearly-won and the cost was about $ 100 million. ( Petak and Elahi Northridge temblor USA ) It was a regretful province of personal businesss that the infirmaries were besides damaged about 31 in figure and 9 were forced to evacuate.

( Petak and Elahi Northridge temblor USA ) This caused serious jobs since the injured had to be dealt with in the infirmaries and the transit systems were damaged to take them to nearby safer countries for the intent of intervention. However the airdromes were comparatively less damaged or about non damaged at all. The temblor wreaked mayhem on legion monolithic edifices including centres of trade and commercialism and shopping place. Bridgess and roads. The devastation of roads and Bridgess lead to serious complications and farther economic loss.

Lack of transit caused assorted concern traffics to be delayed. the harm to office edifices besides acted as an worsening factor in this state of affairs and incurring indirect fiscal loss. “The area’s largest shopping centre. the Northridge Fashion Center was virtually destroyed and did non open for more than a twelvemonth and a half. ” ( Petak and Elahi Northridge temblor USA ) Business loss literally affected the country’s economic system which was already covering with the blow the temblor had given to it. The overall concern losingss were estimated to be $ 15.

2 billion. However. the state of affairss were rapidly dealt with which meant that supply was run intoing the demand. The country took some clip before it was to the full restored despite the fact that the recovery procedure and the assistance being provided were both speedy and effectual. Hurricane Katrina In footings of stuff every bit good as economic devastation. Hurricane Katrina. happening on the 23rd of August. 2005. was one of the worst natural catastrophes to hold affected the US in most recent times. Failure of levee system in New Orleans and Louisiana lead to great loss of life and belongings.

This was greatly criticized since modern twenty-four hours engineering demands much more effectual steps to be taken by the authorities in forestalling immense calamities like hurricane Katrina. Hurricane Katrina has managed to shatter the economic system for good. It has caused immense amendss to the oil and gas production doing major harm to many oil platforms and taking to the shut down of refineries. “The entire introvertish oil production from the Gulf of Mexico in the six-month period following Katrina was about 24 % of the one-year production and the introvertish gas production for the same period was approximately 18 % .

” ( Hurricane Katrina Wikipedia ) This is a regretful province of personal businesss since the harm to done to other concern market. concern traffics and edifices. is apart from this harm to the oil and gas industry. Along with the devastation of assorted occupation chances the forest industry was besides affected. Peoples were non merely left homeless but besides unemployed and the country’s changeless addition through income revenue enhancement from these antecedently employed besides halted because of the loss of their occupations. Families were left without a agency of support and jobs of poorness were going progressively important.

“It is estimated that the entire economic impact in Louisiana and Mississippi may transcend $ 150 billion” ( Hurricane Katrina Wikipedia ) It is a natural phenomenon that loss of employment chances and inaccessibility of basic demands of the people causes them to travel topographic points in hunt of better chances in all Fieldss of life. This has a negative consequence non merely on the countries which are left. because their opportunities of future advancement become dim. but besides of those countries which are over burdened by the inflow of people.

These countries come under economic force per unit area because now they have to supply occupations. residential countries and nutrient for more people on the same available resources. This holds really true particularly in the instance of victims and subsisters of Hurricane Katrina. The economic depressions in their part forced them to migrate to other parts or provinces which besides suffered a set back when burdened by an excess population to be supported. Conclusion Analysis of the US attitude towards natural catastrophes has shown that US authoritiess have been active and lament on preventing every bit good as supplying immediate redresss to the catastrophe afflicted people.

However. the preventative steps like levee system have non been cost effectual. They have non proved to be good in forestalling immense amendss. Amount spent on these preventative steps is wasted one time the catastrophe work stoppages. On the other manus. effectual and efficient aid is provided for the recovery of the victims and the destructed country but the economic blow is really strong. In many countries the fast rehabilitation system is non adequate though and migration of people to other provinces causes burden on those provinces. The economic harm due post-disaster epoch is caused due to direct and indirect causes.

The direct causes include devastation of edifices particularly corporate and residential 1s and Providence of basic installations of life to the victims and injured and indirect harm is incurred by chiefly destructed transits. fix. rehabilitation and rechecking of freshly built constructions for safety. “Disasters can do authorities grosss to fall since lower degrees of economic activity including possible net diminutions in imports and exports imply reduced direct and indirect revenue enhancement grosss. ” ( Benson and Clay P.

29 ) Hence. modern twenty-four hours engineering demands our authorities to take better and more dependable preventative steps to avoid immense amendss from catastrophes which can turn out to be long term economic set dorsums.

Plants Cited

Benson. Charlotte and Clay. Edward J. Understanding the Economic and Financial Impacts of Natural Disasters. 2004. World Bank Publications “Hurricane Katrina. ” Wikipedia. 26 April 2008. & lt ; hypertext transfer protocol: //en. wikipedia. org/wiki/Hurricane_katrina # Economic_effects & gt ; Petak. William J and Elahi. Shirin. “The Northridge Earthquake USA and its Economic and Social Impacts. ” 26 April 2008 & lt ; hypertext transfer protocol: //64. 233.

183. 104/search? q=cache: wKG6aZ183GcJ: World Wide Web. iiasa. Ac. at/Research/RM /july2000/Papers/Northridge_0401. pdf+Economic+impacts+of+Northridge+earthquake hl=en & A ; ct=clnk & A ; cd=1 & A ; gl=pk & gt ; Stoltman. Joseph P. Lidstone. John and Dechano Lisa M. International Perspectives on Natural Disasters. 2005. Springer Publishers. “Super Outbreak” . NOAA’S National Weather Service Weather Forecast Office. Northern Indiana. 26 April 2008. & lt ; hypertext transfer protocol: //www. crh. National Oceanic and Atmospheric Administration. gov/iwx/program_areas/events/historical/superoutbreak1974/inde. php & gt ; “Super Outbreak” Wikipedia. 26 April 2008. & lt ; hypertext transfer protocol: //en. wikipedia. org/wiki/Super_Outbreak & gt ;

Post a Comment

Your email address will not be published. Required fields are marked *

*

x

Hi!
I'm Katy

Would you like to get such a paper? How about receiving a customized one?

Check it out