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But in more modern economies, a natural disaster actually appears to have the potential to improve the economy of a nation.
Bennett (2) points to the Sichuan, China earthquake that killed nearly 80,000 people in 2008. Official governmental records show that the economy actually grew at a faster than normal rate for the area affected by the earthquake. While economic statistics from the central government in China are notoriously inaccurate, there is little doubt that the economy did actually grow in the short and the long term during the months after the earthquake.
With long-term economic growth in mind, how should wealthy nations use this information when considering how to provide aid in the aftermath of a natural disaster? A study of the economics of recovery has revealed that there is a dark side to international aid. Klein (3) represents the more radical edge of this belief. She claims that free markets do not spread capitalism. Rather, NGO’s and governments taking advantage of societies shocked by the ravages of a natural disaster spread capitalism. Natural disasters are actually seen as growth opportunities by these organizations.
Perhaps a less cynical and more powerful article focuses on a recent study by Hideki and Skidmore (4) that attempts to quantify the long-term economic benefits of post-disaster relief. What these researchers found is that of 89 countries experiencing natural disasters such as volcanic eruptions, earthquakes and hurricanes, the countries that had the most natural disasters actually had the greatest economic growth over several decades. The reason for this may lie in the fact that the improved economic conditions come from replacing outdated factories and infrastructure with newer, more efficient and productive infrastructure.
So, in a way, natural disasters can be a sort of economic boon if some of the aid money is directed and used with an eye to the economic future
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This is because if the research is conducted properly and thoroughly, it could provide findings, which could be useful to several potential users, including experts involved in contingency planning, damage control as well as direct victims of terrorist activities.
For instance, the United States alone recorded losses of approximately 1 billion dollars weekly as a result of hurricanes, earthquakes, volcanic eruptions and tornadoes. Regardless of the location of the natural disaster in the world, it is of paramount importance to device means of planning for the natural hazards.
Often, Hurricane travels from ocean to the coast and on to land, where rain, wind, and huge waves can result to extensive destruction (Cauffman,2006).Hurricane are classified in different categories depending on they strength and destruction. The scale ranges from category one to five.
(2) Floods which may occur in an assortment of ways. (a) Including any of the above weather conditions which may deposit an excessive amount of rain fall. (b) Earthquake. And (d) a levy or dam breach. (3) Earthquakes and related events. (a)Tsunami, (b) landslides, (c) flooding and (d) fires.
Nowadays the natural disasters like floods, hurricanes, earthquakes, volcano, Tsunamis etc. generate ever increasing news coverage throughout the several regions of United States .The huge damages are incalculable whether it is human life or it is in property.
Some of these are natural disasters. These are powerful natural forces. These adversely affect the human lives, their socio-economic conditions and ecology around them. These disasters result from various natural forces. It can
In the region under study, the Eurasian plate which carries Japan and its volcanoes thrust over the Philippine Sea plate. The boundary between the plates crack and fracture as the two plates slip past each other in the subduction process. This is the reason there
Normally earthquakes are determined by use of seismometers observations. The most popular scale on which earthquakes bigger than magnitude 5 recorded for the whole globe are measured is known as on moment magnitude. Nevertheless, majority of
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