What are the economic and social effects of hurricane katrina?
Hurricane Katrina will have/is having/has had massive economic and social effects; this questions demands a very long answer to be honest – I would Google it. Try the Economist online The most important in my view is oil, which is so important to both US and UK economies. Both countries are net importers of oil, and I think three oil refineries went down in Katrina – certainly a large percentage of US oil refining capacity. Effects are wide and long reaching and will include: – increase in world price of oil – resultant slowdown in global economies – Reduces strategic oil reserve – global power shift to oil producing counries etc – social effects from this- moves to reduce oil consumption i.e. greener cars hetaing etc New Orleans had a large African-American community; also many near poverty line. Now many out of work/homes – who will provide? – Social benefits? Also as mentioned bofore shipping offline; reduction in trade/US gdp/growth and possibilities of increased current account de
