Dealing with Natural Disaster: Role of the Market

Mitra Barun S.
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Mitra Barun S.: Liberty Institute, New Delhi

Journal des Economistes et des Etudes Humaines, 2000, vol. 10, issue 4, 1-21

Abstract: Ces dernières années, il y a eu de nombreuses discussions à propos des coûts croissants des risques naturels. Jusqu'à présent, pour la première fois dans l'histoire l'humanité a pu se prémunir contre les caprices de la nature de manière significative. Le développement économique a fourni la meilleure protection contre les cataclysmes naturels. L'intervention du gouvernement dans l'économie a contrarié la croissance économique et retardé la possibilité pour les gens de prendre des mesures efficaces afin d'atténuer l'impact des sinistres naturels. Dans la mesure où les forces du marché ont pu opérer, toute une série d'options ont permis de prédire, prévenir et dédommager les coûts de ces risques.In recent years, there have been a lot of discussions about the increased costs of natural hazards. Yet, the fact is that for the first time in history mankind has been able to insulate themselves from the vagaries of nature to a significant extent. Economic development has provided the best protection against natural cataclysms. Government intervention in the economy has adversely affected economic growth and retarded the ability of the people to take effective measures to mitigate the impact of natural hazards. To the extent the market forces have been allowed the space to operate, a whole range of options has evolved to predict, prevent and offset the costs of these hazards.

Date: 2000
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DOI: 10.2202/1145-6396.1137

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