What are Natural disasters?
- Geological disasters
- Hydrological disasters
- Meteorological disasters
- Health disasters
- Space disasters
Gamma ray burst
Should the government take care of natural disasters?
- Not in a free society, that's what insurance is for, why should someone further inland pay for my beach house when it is ruined.
- The way to resolve this is insurance, and if the insurance company won't sell you insurance that is an important signal its too dangerous, why dump that on the tax payer?
- It doesn't make economic sense, it doesn't make good moral sense, it doesn't follow the rule of law - you are responsible for your own property.
You can't buy private insurance for the house on the beach because it is too expensive and you live elsewhere.
So they tax you to living away from the beach cover the house that has been bought near the beach. When the house gets damaged due to natural disaster they say you don't care about the people suffering from the natural disaster.
The fact that they can't buy insurance gives them a very important economic lesson that they shouldn't buy the house on the beach.