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Hurricane Isaac and Economic Freedom: Do free-markets help in disaster recovery?
As Hurricane Isaac pummels Gulf states seven years after Katrina, the question is still debated: what is the best approach to disaster recovery—government agencies or individuals in a free-market?
Economics Professor Dan Smith researched the effects of economic freedom on disaster relief surrounding the aftermath of the 2011 tornado that tore through Joplin, MO. As he wrote in the News Tribune:
“In contrast to other recoveries in which federal and state governments orchestrate recovery, policymakers allowed the free market, voluntary sector to guide recovery in Joplin, demonstrating how effectively economic freedom can help communities rebuild after a natural disaster.”
Check out the story of how economic freedom drove disaster recovery in Joplin, MO.