Economics and natural disasters
The recent destruction product of natural disasters that have taken place in Chile and Haiti offers a powerful contrast to the economic analysis. Moreover in highly heated moments where the drama continues. Today Monday, women's day, there was an earthquake measuring 6.0 in Turkey, on Friday, one grade 6.5 in Indonesia and on Thursday another 6.2 in Taiwan. Earthquakes will not cease.
Haiti was hit in January with an earthquake measuring 7.3 on the Richter scale (equivalent to a nuclear bomb) that devastated. Chile with an earthquake measuring 8.8 in the same scale which also caused extensive damage. Because the Richter scale is a base 10 logarithmic scale, the amplitude of the earthquake in Chile was nearly 100 times larger than the earthquake in Haiti (100 nuclear bombs), but the damage to its infrastructure, although substantial, were lower . In Haiti, killing about 230,000 people, in Chile, the dead, to this day, reaching 497, more victims of the tsunami that followed the earthquake, the earthquake itself. Understanding human catastrophes that are painful and that it is not a comparison, a catastrophe reveals the strength or weakness of State institutions. This is a task in which the inhabitants of a country must agree in order to determine how to prevent future disasters.
In this sense, the scientific literature provides us with important elements on the effects of short-and long-term natural disasters, and its strong social impact. At the outset, we must recognize that these disasters are regressive and that most affect the poorest people and, by extension, to the poorest countries. A recent study found 200 natural disasters and identified three variables that reduce vulnerability to disasters: the losses are lower in countries with more education, stronger financial markets and economies more integrated to the world. But the central and most important element is the ability of countries to generate savings, and transparency and seriousness of their legal and financial systems.
Preliminary estimates calculate the impact of losses in infrastructure, bridges, roads, hospitals, schools and homes destroyed in Chile at around 10,000 million dollars, but it is too soon to say. Whatever the amount, the important thing is that Chile has the resources to rebuild the damaged. The Chilean Constitution allows the use of up to 2% of their budgets in case of disaster. In addition, the Fund for Economic and Social Stabilization reached 11,000 billion at December 2009 (7% of GDP).
This fund was established in 2007 and his early contributions were made to the program of structural surplus of 1% of GDP generated since it began in 2001 and operated as a fiscal rule. In this regard, Chile was one of the few countries in the period of the "fat cows" significant resources allocated to saving. These resources were lightly used in 2009 to address the global financial crisis. Now, be employed in the task of rebuilding the devastated areas.
Another relevant topic is related to infrastructure. Building standards in Chile are very clear and most of them was strengthened between the decades of the '50s and '60s. In fact, the buildings erected during this period have survived at least four earthquakes exceeding the 7.0 degrees on the Richter Scale (1965, 1971, 1985, 2010). However, in the latest quake collapsed many recently constructed buildings (like the 15-story building in the photograph) as well as roads and bridges that were no more than four years. This is the result of so-called laissez-faire city, who left in the hands of their own construction companies monitoring of compliance, taking the oversight of regulatory agencies (such as with the global financial system). In much of the damaged buildings have been found weakness in the concrete and heavy chains of failures in meeting the standard. Many buildings will be demolished, but before doing so will need to clearly identify the traces of the crime.
- economics of natural disasters
- natural disasters in the 60s
- economics and natural disasters
- disasters in the 50s
- disasters of the 50s
- natural disaster economics
- natural disasters of the 50s
- disasters in 50s
- number of earthquake in 1985-2010
- natural disasters in the 50s
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