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Austrian Contributions to the Literature on Natural and Unnatural Disasters

In: New Thinking in Austrian Political Economy

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  • Stefanie Haeffele-Balch
  • Virgil Henry Storr

Abstract

Austrian insights on the limits of central planning, the pervasiveness of knowledge problems, and the importance of the entrepreneur in coordinating social change have yielded substantive contributions to the literature on how individuals and communities respond to both natural and unnatural, or manmade, disasters. Austrian economists have examined the political economy of natural disasters, disaster relief and recovery efforts, the economic effects of extended wars, post-conflict societal reconstitution, and the effectiveness of humanitarian aid. This literature advances two main findings: (1) that centralized governments are likely to be ineffective at providing the goods and services that are necessary for community recovery and (2) that decentralized efforts are better suited to address the needs of society, to discover the best course of action for producing and distributing these goods and services, and to adapt to changing needs, circumstances, and technology. This paper examines the Austrian theories utilized to examine disasters, provides a summary of the recent research on both natural and unnatural disasters, and proposes areas for future research.

Suggested Citation

  • Stefanie Haeffele-Balch & Virgil Henry Storr, 2015. "Austrian Contributions to the Literature on Natural and Unnatural Disasters," Advances in Austrian Economics, in: New Thinking in Austrian Political Economy, volume 19, pages 67-93, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:aaeczz:s1529-213420150000019004
    DOI: 10.1108/S1529-213420150000019004
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    References listed on IDEAS

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    1. Emily Chamlee-Wright & Virgil Henry Storr, 2009. "Club Goods and Post-Disaster Community Return," Rationality and Society, , vol. 21(4), pages 429-458, November.
    2. Tyler Cowen & Christopher Coyne, 2005. "Postwar Reconstruction: Some Insights from Public Choice and Institutional Economics," Constitutional Political Economy, Springer, vol. 16(1), pages 31-48, January.
    3. Russell S. Sobel & Peter T. Leeson, 2010. "The Use of Knowledge in Natural Disaster Relief Management," Chapters, in: Emily Chamlee-Wright & Virgil Henry Storr (ed.), The Political Economy of Hurricane Katrina and Community Rebound, chapter 3, Edward Elgar Publishing.
    4. Steven Horwitz, 2009. "Best Responders: Post-Katrina Innovation and Improvisation by Wal-Mart and the U.S. Coast Guard," Innovations: Technology, Governance, Globalization, MIT Press, vol. 4(2), pages 93-99, April.
    5. Christopher Coyne & Abigail Hall & Patrick McLaughlin & Ann Zerkle, 2014. "A hidden cost of war: the impact of mobilizing reserve troops on emergency response times," Public Choice, Springer, vol. 161(3), pages 289-303, December.
    6. Coyne, Christopher J., 2011. "Constitutions and crisis," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 351-357.
    7. Coyne, Christopher J. & Boettke, Peter J., 2009. "The problem of credible commitment in reconstruction," Journal of Institutional Economics, Cambridge University Press, vol. 5(1), pages 1-23, April.
    8. repec:wvu:wpaper:09-10 is not listed on IDEAS
    9. Emily Chamlee-Wright & Virgil Storr, 2011. "Social capital, lobbying and community-based interest groups," Public Choice, Springer, vol. 149(1), pages 167-185, October.
    10. Emily Chamlee-Wright & Virgil Storr, 2010. "Expectations of government’s response to disaster," Public Choice, Springer, vol. 144(1), pages 253-274, July.
    11. Christopher J. Coyne & Jayme Lemke, 2012. "Lessons from The Cultural and Political Economy of Recovery," American Journal of Economics and Sociology, Wiley Blackwell, vol. 71(1), pages 215-228, January.
    12. Virgil Henry Storr & Stefanie Haeffele-Balch, 2012. "Post-disaster Community Recovery in Heterogeneous, Loosely Connected Communities," Review of Social Economy, Taylor & Francis Journals, vol. 70(3), pages 295-314, October.
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    Cited by:

    1. Laura E. Grube & Stefanie Haeffele-Balch & ErikaGrace Davies, 2017. "The Organizational Evolution of the American National Red Cross: An Austrian and Bloomington Approach to Organizational Growth and Expansion," Advances in Austrian Economics, in: The Austrian and Bloomington Schools of Political Economy, volume 22, pages 89-105, Emerald Group Publishing Limited.

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    More about this item

    Keywords

    Disasters; war; conflict; Austrian economics; knowledge problem; regime uncertainty; B53; H84; Q54; N40; H56; D74; D71;
    All these keywords.

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • H84 - Public Economics - - Miscellaneous Issues - - - Disaster Aid
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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