Natural Disasters: A Drain in the Most Crucial Regions of Economic Development
CHUYN via iStockPhoto As hurricane season approaches its end following historic destruction in North Carolina, Georgia, and Tennessee, it is more important than ever to pay attention to the economic disasters that can accompany them. Natural disasters have devastating effects, and with climate change exacerbating the strength and frequency of these tragic events, they become even more relevant in the discussion of local economies. The issue of disasters is especially relevant in the Southeast, as Texas, Florida and Louisiana lead the nation in the associated costs of weather events. Florida alone suffered a 7.5-10% hit to GDP as a result…