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An economic and ethical analysis of the Katrina disaster

An economic and ethical analysis of the Katrina disaster Purpose – The purpose of this paper is to apply economic and ethical analysis to natural disasters such as Hurricane Katrina to determine which approaches to disaster relief work best and which should be abandoned. Design/methodology/approach – This paper provides a combination of narrative with argument and analysis. Findings – Government involvement in disaster relief has proven to be economically inefficient and also rights‐violating. Private sector initiatives and economic and political freedom provide better solutions. Practical implications – The findings point to ways that can improve the economic efficiency of providing disaster relief while also safeguarding property and contract rights. Originality/value – This paper combines economic and ethical analysis and includes discussions from the perspectives of both utilitarian ethics and rights‐based ethics, which is not usually done in the economics literature. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

An economic and ethical analysis of the Katrina disaster

International Journal of Social Economics , Volume 35 (7): 12 – Jun 6, 2008

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
0306-8293
DOI
10.1108/03068290810886948
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to apply economic and ethical analysis to natural disasters such as Hurricane Katrina to determine which approaches to disaster relief work best and which should be abandoned. Design/methodology/approach – This paper provides a combination of narrative with argument and analysis. Findings – Government involvement in disaster relief has proven to be economically inefficient and also rights‐violating. Private sector initiatives and economic and political freedom provide better solutions. Practical implications – The findings point to ways that can improve the economic efficiency of providing disaster relief while also safeguarding property and contract rights. Originality/value – This paper combines economic and ethical analysis and includes discussions from the perspectives of both utilitarian ethics and rights‐based ethics, which is not usually done in the economics literature.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: Jun 6, 2008

Keywords: United States of America; Disaster; Licensing; Cost benefit analysis; Prices; Ethics

References