Question

In: Economics

What lessons can we all learn from a disaster? What would be your plan to minimize...

What lessons can we all learn from a disaster? What would be your plan to minimize loss of life and property if the disaster occurred locally?Please describe short-term and long-term effects of a natural disasters on the economy.

Solutions

Expert Solution

Children and adults should share their thoughts and emotions about what happened. Speaking of the pain will help people understand the tragedy and put it in perspective. Schools can teach curricula covering what natural disasters are, their consequences, and possible preventive measures being implemented.

Disasters teach us nature's destructive force and nature's regenerating force too. Unquestionably, following nature's lead translates the lessons of strength and resilience into life.

Crisis times can have the effect of making people unified. The triggering of empathy feelings will cause people to work together and to establish shared objectives. Throughout one's life, one can benefit from exceptional examples of unity, altruism and generosity the remarkable capacity of the human spirit to conquer adversities.

However, mitigation steps such as the implementation of zoning standards, land-use standards and building codes are required to avoid or reduce real hazard damage. For example, preventing development in landslide- and flood-prone areas through planning and zoning ordinances will save construction money and minimize the loss of life and damage to property and natural resources. Post-disaster studies continue to confirm the fundamental fact that when a disaster strikes, community investment in mitigation pays direct dividends.

Mitigation strategies will include, above all, the main groups involved in the creation, adoption, implementation and compliance of mitigation — elected representatives, finance and insurance professionals, engineers, planners and architects, community organizations, marketing professionals, educators and researchers. Mitigation requires a multidisciplinary team approach free from control by any specific interest group to be effective; each discipline has a role and contribution to make. Closer communication and coordination among researchers, practitioners, and policymakers increases the probability of implementing successful mitigation programs.

Large natural disasters can and do have significant negative economic short-run impacts. Disasters also tend to have negative long-term impacts on economic growth, sustainability and poverty reduction. Still, there are no possible harmful impacts. Vulnerability is shifting rapidly, especially in countries experiencing economic transition-rapid development, urbanization and related technological and social changes.

Governments need effective risk management strategies for future disasters which include 8-10 years of medium-term financial planning. The funding rationale needs to be broadened, introducing a variety of measures at various levels of risk coverage to help address obstacles to expanded insurance coverage and capital market resources. Natural hazard risk management should be incorporated into national long-term investment plans and growth strategies and properly reflected in financial capital allocation.

Quality, accurate scientific knowledge is a requirement for successful management of disaster risks. The international community will help the global and regional risk-related analysis and information systems. It should also ensure appropriate complementary monitoring and distribution systems are in place at the national level. Climatic instability, regional and national flood predictions, and geophysical hazards are priorities.


Related Solutions

What lessons can we learn from government sponsored programs such as Medicare, Medicaid, and the VA...
What lessons can we learn from government sponsored programs such as Medicare, Medicaid, and the VA System about the problems facing fixed-budget health care systems? Should the healthcare system be operated on a fixed budget?
What five lessons can other businesses learn from Virgin?
Virgin was founded in 1970 by Richard Branson and is classified as a holding company for multiple ventures under the Virgin Group. When it comes to innovation Virgin is one of the top companies in the world. What began as a mail order record company has evolved into one of the most diverse companies in existence. Virgin invests in and builds companies that revolve around delivering fantastic customer experience and change the scope of industries. They do everything from space...
What teamwork lessons can we learn from the behaviour of Canada geese? How might you apply...
What teamwork lessons can we learn from the behaviour of Canada geese? How might you apply these lessons to any teamwork you do at college? When geese fly in formation, we can't help but look up and marvel at their beauty.  Their behaviour also represents successful teamwork patterns that have evolved over time.  The V formation helps each follower goose derive energy from the flow field generated by the goose immediately ahead.  Every bird experiences lower drag and needs less...
1a) What can we learn from CARA,IARA and DARA? b) What can we learn from CRRA,IRRA...
1a) What can we learn from CARA,IARA and DARA? b) What can we learn from CRRA,IRRA and DRRA?
Explain what lessons policy makers learn from the Philips Curve
Explain what lessons policy makers learn from the Philips Curve
What are three important lessons you can learn from Robert Kiyosaki in his book Second Chance...
What are three important lessons you can learn from Robert Kiyosaki in his book Second Chance - The man who predicted the Future? According to Kiyosaki, what will cause the next economic crisis and how can you prepare for it?
What lessons can we take from the failed Embargo Act as the threat of a trade...
What lessons can we take from the failed Embargo Act as the threat of a trade war looms near?
can I learn your plan of care ? and nursing priorities
can I learn your plan of care ? and nursing priorities
Discuss five lessons developing countries can learn from the East Asian development experience.
Discuss five lessons developing countries can learn from the East Asian development experience.
What We can learn from chapter 1, Call Me American?
What We can learn from chapter 1, Call Me American?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT