S. is imported through or fished out of the Gulf. Katrina struck right at the peak of harvesting season. At the same time, Louisiana is the nation's top oyster producer, and wholesalers are waiting in fear to see if the beds have been damaged" ("Katrina's Impact"). Therefore, food and agriculture may also show signs of economic fallout for years to come. Much of this remains to be seen, as all the damage has still not been assessed in all areas.
The hurricane also destroyed billions of board feet of hardwood in the states, which will also have an affect on the forestry industry. About 10% of Mississippi jobs are in this area, and this will create higher prices for many building materials and other wood products like paper, too (Editors). Thus, the economic affects are quite widespread and could last for decades in some Southern states and in some industries. In addition, any exports that do make it out of port will cost more to the importers because of higher energy and shipping costs, and will mean less profit to the growers for the very same reasons.
Has anything positive come out of the Katrina disaster? Perhaps there is a bit of light at the end of the tunnel. Construction, already at an all time high in America, is booming even more as rebuilding in the Gulf Coast region begins. Clearly, there is plenty of rebuilding to be done throughout the Gulf Coast region. While some building materials may boast higher price tags, many others may actually drop in price because of the great demand. However, the gains made in construction may be lost due to rising fuel costs and another big element of the picture that is often forgotten - insurance premiums. Experts estimate the damage is at least $40 billion dollars in the area, and the insurance payout may be as high as $26 billion, the highest in U.S. history ("Katrina's Impact"). That boils down to higher insurance premiums for everyone in the country. Another expert notes, "In a research report from Merrill Lynch, David Rosenberg says that while rebuilding could add $40 billion...
Hurricane Katrina that ripped through the Gulf Coast of the United States on August 29, 2005, was one of the most destructive tropical cyclones ever to hit the United States. The exact scale of damage is still being assessed but there is little doubt that the human suffering and the economic damage caused by the storm is colossal. While people around the world have come to expect wide-scale destruction by natural
A large portion of this cost ultimately is borne by the state (Handmer, 2006). Therefore, through rational choice theory, policy was enacted to provide benefit at the lowest cost. For instance, sales taxes were raised, drainage systems were implemented to prevent flooding, building codes were upgraded to prevent excessive property damage, and job training programs were implemented to help spur growth. All of this legislation was enacted through the
Hurricane Katrina and Economic Implications Hurricane Katrina and the Economic Implications The events of the incident and the economic backlash The 2005 Hurricane Katrina that ended up encompassing the cities of Texas, Mississippi and Louisiana can be termed as one of the most deadly hurricanes to hit the United States of America and left millions of people in absolutely despair along with serious economic implications for the entire country to cope up with.
Time for Accountability There is definitely a time for accountability; but what isn't fair is to dump on the federal officials and avoid those most responsible -- local and state officials who failed to do their job as the first responders. The plain fact is lives were needlessly lost in New Orleans due to the failure of Louisiana's governor, Kathleen Blanco, and the city's mayor, Ray Nagin (Williams, 2005). The primary responsibility
Hurricane Katrina Disaster Evaluation Review the Final Paper instructions in Week 5. Develop a thesis statement and outline, and identify at least five sources you intend to use for the Final Paper. Develop a thesis statement. The thesis statement will be the point or claim you argue or prove in your paper. 9/11 and Hurricane Katrina Disaster Evaluation 9/11 and Hurricane Katrina Disaster Evaluation Hurricane Katrina and the Sept. 11, 2001 attacks should never be
Hurricane Katrina When former New Orleans Mayor Marc Morial remarked "The New Orleans we all through we knew is dead," he was speaking about not only 2005 natural mega-storm Hurricane Katrina, but the events and effect the disaster would have on the City of New Orleans that even today still reverberate. The events surrounding the aftermath of Hurricane Katrina offer a winsome and remarkable case study regarding the continuing social divide
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now