Overview
Disaster Recovery Economics is a vital field that examines how disasters affect economies and the strategies needed for recovery. It encompasses understanding both direct and indirect economic impacts, which can vary significantly based on the nature of the disaster. Effective recovery strategies ar...
Key Terms
Example: The economic impact of a hurricane can include damage to infrastructure and loss of business revenue.
Example: A recovery strategy may involve government funding for rebuilding homes.
Example: Using cost-benefit analysis, a city may decide whether to invest in flood defenses.
Example: Resilience planning includes improving infrastructure to withstand earthquakes.
Example: The direct impact of a flood includes destroyed homes and businesses.
Example: An indirect impact of a disaster may be job losses in affected areas.