Natural Disasters Affecting America's Economy

Despite technological and scientific advances in prediction and mitigation, we have seen a serious increase in both mortality and economic losses from disasters since 1960, particularly in the developing world. Disasters are, in fact, increasing in impact and scope through the combined effects of economic, social, demographic, ideological and technological factors. Greater numbers of people are more

Katrina affected US imports because of infrastructure damages and reduced economic activity. In 2005, the United States imported approximately $1.7 trillion in goods. This means that there was a 0.25% decrease in imports growth for 2005. The United States current elasticity was at 1.3, which implies that imports dropped another ⅓ of a percent by the end of the year. Therefore, US imports fell an extra $5.6 billion. However, imports increased by the same amount in 2006, demonstrating that the effects Katrina had on US imports were not permanent. Correspondingly, in 2005, exports in the United States only grew by 10% but in 2004 and 2006, they grew by 13%. The reason being that the Mississippi river was clogged and it prevented goods from being

When it comes to natural disasters we know people are going to be hurt and killed but what we don’t know is what type of people are affected by it the most. In the article, the author uses many examples of natural disasters that had a very high number Black African Americans death. Is no coincidence that in many of these disasters is the ones that are poor, black, minorities that are being affected. Is a misconception that racism and segregation have lessened it actually is being done in other methods that are not as obvious. The government is not making any effort if it involves poor black citizens why because there are no interests by the ones that are in power to do so. The U.S. has had many issues with African Americans from slavery to

This is the type of stress nobody wants to deal with. Employees want their families and friends to be their number one priority to worry about, not their job. Although their job should be high on their priority list of worries. What happens when this disaster is all over with and it time to come back to reality? What will this reality be? Us Floridians have been blessed with very few devastating disasters that completely wiped businesses off the map. We always need to prepare for the worse. We have seen it first hand, a small little storm could be nowhere near our state, and within 24 hours it has doubled in strength, size and headed right for us. Instead of having a state of panic, lets embrace the technology that we have been ready for all types of storms.

The number of natural disaster is increasing over the years and its impact to the economy and environment has increased remarkably. Flood disaster is a major threat to the environment and is responsible for the economic loss worldwide. Flood frequency, magnitude, extent and cost is accelerating quickly all over the world (Adjei-darko, 2017). A single major flood event can affect several countries simultaneously and can pressure on risk reduction and transfer (Jongman et al., 2014). According to the outcome of Aqueduct Global Flood Risk Analyzer launched by the US-based World Resource Institute (WRI), flooding affects 21 million people annually and it could rise to 54 million by 2030 and the GDP loss is 96 billion $ in each year and it could be 521 billion $ by 2030 (Dutch water sector, 2005). Different sectors of Bangladesh also suffer a huge amount of loss due to regular flood inundation that impacts on countries’ budget through the disruption of economic activity (Hussain & Shan, 2010; Jüssi, 2015). In Bangladesh, about 3.5 million people are annually affected by the flood and it can rise to 9.8 million per year by 2030. Annual GDP loss is 5.5 billion $ and by 2030 it can rise 45.8 billion $ (WRI, 2017). Economic disruption may rise more than 1 trillion $ annually and flood frequency may be double because of adverse climate and socio-economic development by 2050 (Jongman et al., 2014). More than 8 million people affected by flood in 2017 which caused death

In the last decade natural disasters have wreaked extensive property damage across the country; some of these storms are enormous that form over water traveling miles to reach the mainland. According to Michael B, Sauter, September, 2016; More than 35 million U.S. single-family homes and condos, the equivalent of $6.6 trillion in residential property, are at high risk of damage from natural disasters. Those homes account for 43% of the total single-family residential property in the United States. The human should always be our first thoughts with these events. Unfortunately, there are other impacts on people’s lives, sometimes the loss of life.

Disaster from natural, conflict or technological sources threaten people’s lives and health; limit and increase uncertainty of people’s livelihoods and other socio-economic activities. Hazards, as well, severely undermine economic access and competitiveness and compromise governance system in any urban setting. The world's big cities are rapidly becoming more exposed and more vulnerable to natural and man-induced hazards and disasters. Hazards and disaster destroy both natural and built environment, contributes to increase in the number of displaced persons; erodes development gains and limit structural stability of the urban centres.

warning and the arrival of a storm is about 13 minutes.” (National Geographic) That’s much

The profit level would go down and the organization will lose the customers and their satisfaction. This will be a negative impact on the business and would cause a bad reputation among the customers and other competitive firms can make advantage of such situation because of the lack of the disaster recovery plan.

Natural disasters like hurricanes affect towns and cities all over the United States.In the last decade natural disasters have wreaked extensive property damage across the country. According to Michael B, Sauter, September, 2016; More than 35 million U.S. single-family homes and condos, the equivalent of $6.6 trillion in residential property, are at high risk of damage from natural disasters. Those homes account for 43% of the total single-family residential property in the United States. Some of these storms are enormous that form over water traveling mile to reach the mainland. The human should always be our first thoughts with these events. Unfortunately, there are other impacts on people’s lives, sometimes the loss of life. The deadliest hurricane in the history of the United States to make landfall was the Galveston Hurricane of the 1900 that killed 8000 people.

Disasters, at their most basic, arise when hazards have a significant impact on a population. A 7.0 magnitude earthquake that would be a devastating disaster in a densely populated and vulnerable city, may be a relatively insignificant geologic occurrence when it strikes an unoccupied island chain. Risk of a disaster is more traditionally calculated by identification of the potential hazard, assess in relation of likelihood of an event as it relates to the potential impact severity – or risk = probability x impact/loss. (Smith 2013). For preparedness, risk formulas are insufficient in the absence of context and consideration for social vulnerability, Birkmann (2007) encourages us to shift away from viewing disasters as large-scale events

“Over 31,849,838 had been killed by natural disasters in the past century” [1]. These are just

Natural disasters are inevitable and it is not possible to get full control over them. The history of human civilization reveals that man has been combating with natural disasters from its origin but natural disasters like floods, cyclones, earthquakes, volcanic eruptions have various times not only disturbed the normal life pattern but also caused huge losses to life and property, and interrupted the process of development.

Disaster has become the most emerging topic of recent times. But managing them totally is still not being possible even by the developed countries. Different scholars defined the term differently. A disaster is a serious disruption of the functioning of a community or a society involving widespread human, material, economic or environmental losses and impacts, which exceeds the ability of the affected community or society to cope using its own resources. In contemporary academia, disasters are seen as the consequence of inappropriately managed risk. These risks are the product of a combination of both hazard/s and vulnerability. Hazards that strike in areas with low vulnerability will never become disasters, as is the case in uninhabited regions. Developing countries suffer the greatest costs when a disaster hits – more than 95 percent of all deaths caused by hazards occur in developing countries, and losses due to natural hazards are 20 times greater (as a percentage of GDP) in developing countries than in industrialized countries. Disasters are again classified among categories like Natural Disaster and Man-Made Disaster. A natural hazard is a natural process or phenomenon that may cause loss of life, injury or other health impacts, property damage, loss of livelihoods and

Natural disasters are a devastating, but undeniably inevitable part of life and society. Because of this fact, many of us tend to believe that they happen as an act of nature, purely out of the human control. We need to start realizing that this is far from the truth and it this attitude that is stopping us from learning from our mistakes. The contemporary world inaccurately labels various disasters as ‘natural’ when in fact, when looked at more closely; there is an enormous correlation between ‘nature’ and ‘society’. There are many flaws in the human preparation for natural disasters that have equated in death and injury where it could have been minimized. Although the occurrence of a disaster can happen at any time, it is vital that we