Hurricane Katrina Catastrophes

In this planet, several catastrophes spawn and serve as major obstacles to society in its entirety and of the most destructive types of these disasters are commonly referred to as “hurricanes”. Throughout the course of human history, hurricanes have been a negative ailment most directly impacting the economy. Hurricanes are a lengthy, but severe depending on its category, process that doesn’t just instantly affect the economy. For instance, prior to the storm the public will be notified about this incoming hurricane, therefore, the demand of products such as necessities and disaster aids will elevate as people will want to stockpile as much supplies as possible that there might be shortages. The storm will also affect the supply chain industry; …show more content…
When people are notified of such a catastrophe that is about to break loose, they will have to initiative to stockpile as much necessities as possible because their survival is their number one priority. However, stockpiling is one of the most detrimental things to do because it only leads to inflation of prices and will only lead to shortages as products become more scarce, according to (Mayerowitz, “Time to Stockpile Food”) Also, there has been a trend most notably seen in Hurricane Katrina, in which only 84% of those that were evacuated returned one year after resulting in a loss of labor participation from these displaced workers, also those that did return suffered from not fully participating in the labor market some jobs, unable to fulfill work tasks as the producer which affects the market. ("The Workforce and Economic Recovery: Effects of Hurricane Katrina." 1) Gasoline is a vital resource to everyday life and when it is suffering from shortages, businesses may observe a small peak of growth, however, in the long term they will be thoroughly impacted. Recently, in Florida there have been gas stations completely running out of gas and the fact that shipments might be delayed only makes the dilemma even worse. (Ostrowski, “Gas shortages, long lines as Hurricane Matthew looms”) These are just the many hindrances a hurricane has to offer, and it hasn’t even started …show more content…
One in particular is tourism and has occurred when Hurricane Sandy hit the northeast. As the hurricane impacted nearly everything in that region, citizens were not interested in travelling to another state for a vacation, they were too interested in worrying about their present life like attempting to renovate their losses. South Florida generates its revenue from constant tourism especially from the North East, and as people invest their money in recovery instead of tourism, that industry gets hit in the long term. (Griffin, "Florida Tourism Officials Worry about Sandy's Impact Here.") The gasoline industry has experienced massive inflation after Hurricane Katrina in the long term; the hurricane reduced the production of oil drastically increasing the price of gas. The price of heating a home elevated as much as 71% the winter of 2005 and caused an increase in wages, while raising the costs of energy & the rate of unemployment. (Hall, "Katrina May Fan Fires of Inflation.") The infrastructure business is also a business that can be hit very hard by hurricanes in the long term, one for instance, comes from Hurricane Joaquin. The already inadequate funding of the development of infrastructure along with the damages from hurricanes have contributed to an economic downfall simultaneously. Infrastructure is an essential component to everyday life, however, it is very expensive and it must be