To what extent can we minimize the effects

To what extent can we minimize the effects of natural disasters? The Economic Perspective Enya Clancy Candidate number: 0108 Center number: US 799 Group Members: Christina Salsberry- Social/Cultural Perspective Emma Carter- Political Perspective Alexandra Garroway- Environmental Perspective

What are Natural Disasters? � � � A natural disaster is the destructive consequence of any natural hazard. Natural hazards any extreme natural phenomenon that harms human life, property or the environment. Over 700 natural disasters happen annually around the world. • ex. Floods, Hurricanes, Epidemics, Mud Slides, Earth Quakes, etc.

Why are natural disasters viewed as a problem? � � � Natural disasters are a major problem because they often give little or no warning With natural disasters being so random , the residents of the impacted area have no time to take evasive action such as buying extra food and water, putting up protection. If residents had time to prepare the aftermath of the disaster would not be as extensive.

What is the connection between economics and natural disasters? � Natural disasters can have both a positive and negative effect on the economy • They can be positive because they may promote growth • Creative destruction occurs when the productivity of firms that survive the disaster emerge with new technologies. � Natural disasters can also have a negative affect on the economy: • Many companies will have damaged buildings and machinery; unable to work immediately companies with be losing time and money. • Employees are unable to work in these conditions and lose wages

How has the United States economy suffered from natural disasters? • • • Hurricane Irma impacted all of Florida starting on September 10, 2017. Florida relies heavily on the profits of tourism and agriculture especially orange crops Florida makes roughly $90 billion dollars from their tourist industry yearly Due to Irma, Florida lost approximately 50 -70 percent of its citrus crops which plays a huge part in Florida's economy. Many agricultural laborers will lose their jobs due to this thereby increasing unemployment and the poverty rate.

How has the United States economy suffered from Natural Disasters (cont. )? • In 2017 California has already lost over 68, 000 acres of land due to the fires. • These wildfires have been more intense due to the combination of record heat and high winds- known as diablo winds. • More than $1 billion dollars is spent every year on wildfire suppression • California Department Of Finance estimates that in 2017 it will cost around $90 million dollars to put out all the wild fires in California. • The federal government has committed to repay California half of the total costs.

Why could Federal budget's alone be viewed as an insufficient way to solve the economic problem? � President Donald Trump as submitted a new budget on how to deal with the California Forest Fires. • The White House proposed a $300 million dollar cut from forest wild fire fighting initiatives and $50 million dollars from the prevention program. • With the major decrease of the federal funds, California will not be able to hire as many fire fighters and other first responders, thereby making the fires harder to control and increasing their impact.

Natural Disasters around the Globe: Their economic impact • On August 14 th, 2017 Sierra Leone, a third world country in Africa was the victim of a deadly mudslide, killing around 500 people and a further 600 missing • Over 900 homes were lost during the mudslide increasing poverty rates • With a 70 percent unemployment rate, and a daily income of less than $1. 25, Sierra Leone is one of the poorest countries in the world. • Over the last decade Sierra Leone has approximately lost 800, 000 hectares of forest.

Natural Disasters around the Globe: Their economic impact (cont. ) • The 2004 tsunami cost $15 billion dollars in damage. • Indonesia's economy, still trying to recover from the financial crisis of 1997, was hit hard. • Indonesia relied heavily on outside resources to help after the tsunami. • Indonesia was supported by outside aid with a total of $810 million dollars. • In the Aceh Province, more than 40 per cent lost their livelihoods and income sources due to the destruction of their fishing and agricultural sectors

How can we fix the economic problems of natural disasters? • Local �The United States government can put more funds aside for natural disaster preparation • International �The United Nations can help minimize the effects of natural disasters by providing affected countries with loans, more affordable disaster insurance plans, and the reliance of organizations such as Red Cross to provide medicine, food, and water.

Conclusion � Natural Disasters can happen anywhere and at any time. � � With damages potentially costing many millions of dollars, countries must rely heavily both on their government for funding and outside international help. “Farms and ranches content with much more that quarterly reports and profit margins- the weather can wreak havoc on their quality of life and economic viability. When natural disasters strike, we must do all we can to assist the backbone of our economy. ” – Ruben Hinojosa’*, Former US Representative for Texas

Sources: � Weiss, Daniel and Weidman, Jackie. Disastrous Spending: Federal Disaster-Relief Expenditures Rise amid More Extreme Weather. April 29, 2013. Accessed October 3, 2017 https: //www. americanprogress. org/issues/green/reports/2013/04/29/61633/disastrous-spending-federaldisaster-relief-expenditures-rise-amid-more-extreme-weather/ � Bearak, Max and Gamio, Lazaro. The U. S. foreign aid budget, visualized. October 18 th, 2016. Accessed October 22, 2017. https: //www. washingtonpost. com/graphics/world/which-countries-get-the-most-foreign-aid/ � Scotti, Aierl. President Trump's proposed budget cuts to fighting wildfires could be deadly for the Western U. S. July 11, 2017. Accessed October 22, 2017. � http: //www. nydailynews. com/news/national/trump-2018 -budget-cuts-fighting-wildfires-deadly-article 1. 3318296 � National Geographic News. The Deadliest Tsunami in History? January 7, 2005. Accessed October 3, 2017 http: //news. nationalgeographic. com/news/2004/12/1227_041226_tsunami. html � "Natural Disasters. " International Encyclopedia of the Social Sciences, edited by William A. Darity, Jr. , 2 nd ed. , vol. 5, Macmillan Reference USA, 2008, pp. 432 -434. Global Issues in Context, link. galegroup. com/apps/doc/CX 3045301708/GIC? u=miam 46690&xid=d 6 dc 3437. Accessed 22 Oct. 2017.

Sources: • Abdul Rashid Thomas. What’s needed to take African countries like Sierra Leone from Third to First World in 25 years. July 14, 2016. Accessed October 16, 2017 http: //www. thesierraleonetelegraph. com/whats-needed-to-takeafrican-countries-like-sierra-leone-from-third-to-first-world-in-25 -years/ • California Nevada Climate Applications Program. Background: Wildfires in California and the Western United States. Accessed October 8, 2017 http: //meteora. ucsd. edu/cap/fire_background. html • Flores, Aaron and Bauerlein, Valerie. Hurricane Irma’s Major Economic Toll on Florida Takes Shape. September 14, 2017. Accessed October 22, 2017. • https: //www. wsj. com/articles/hurricane-irmas-major-economic-toll-on-florida-takes-shape-1505381401 • Cohn, Scott. Texas and Florida hurt by the economic body blow from hurricanes Harvey and Irma. September 15, 2017. Accessed October 3, 2017 https: //www. cnbc. com/2017/09/15/texas-and-florida-face-economic-blow-from-hurricanesharvey-and-irma. html • "How to make natural calamities 'dull'. " Christian Science Monitor, 20 Apr. 2017. Global Issues in Context, link. galegroup. com/apps/doc/A 490311644/GIC? u=miam 46690&xid=43 b 6 a 82 a. Accessed 22 Oct. 2017

Sources: � � � The Times, London, England. Insurance against natural disasters. July 20, 2017. The Times, London, England. Accessed October 8 , 2017 http: //ic. galegroup. com/ic/gic/Viewpoints. Details. Page/Viewpoints. Details. Window? disable. Highlighting=false &display. Group. Name=Viewpoints&curr. Page=&scan. Id=&query=&doc. Index=&source=&prod. Id=GIC&search_ within_results=&product. Short. Name=GIC&mode=view&cat. Id=&u=miam 46690&limiter=&displayquery=&display. Groups=&content. Modules=&action=e&sort. By=&document. Id=GALE%7 CA 498852807&wind owstate=normal&activity. Type=Basic. Search&fail. Over. Type=&commentary= Ruben Hinojosa. Life, Quality, Weather. https: //www. brainyquote. com/quotes/keywords/natural_disasters. html Giddens , Sarah. Explaining the Deadly Sierra Leone Mudslide. August 16, 2017. Accessed, November 12, 2017. https: //news. nationalgeographic. com/2017/08/sierra-leone-mudslide-deadly-video-spd/

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