The Geography of Risk
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15
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This century has seen the costliest hurricanes in U.S. history―but who bears the brunt of these monster storms?
Consider this: Five of the most expensive hurricanes in history have made landfall since 2005: Katrina ($160 billion), Ike ($40 billion), Sandy ($72 billion), Harvey ($125 billion), and Maria ($90 billion). With more property than ever in harm’s way, and the planet and oceans warming dangerously, it won’t be long before we see a $250 billion hurricane. Why? Because Americans have built $3 trillion worth of property in some of the riskiest places on earth: barrier islands and coastal floodplains. And they have been encouraged to do so by what Gilbert M. Gaul reveals in The Geography of Risk to be a confounding array of federal subsidies, tax breaks, low-interest loans, grants, and government flood insurance that shift the risk of life at the beach from private investors to public taxpayers, radically distorting common notions of risk.
These federal incentives, Gaul argues, have resulted in one of the worst planning failures in American history, and the costs to taxpayers are reaching unsustainable levels. We have become responsible for a shocking array of coastal amenities: new roads, bridges, buildings, streetlights, tennis courts, marinas, gazebos, and even spoiled food after hurricanes. The Geography of Risk will forever change the way you think about the coasts, from the clash between economic interests and nature, to the heated politics of regulators and developers.
Reviews with the most likes.
A Warning For The Entire US Eastern And Gulf Coasts. This book is fairly comprehensive in its history of coastal development, with particular emphasis on the back bays of New Jersey but also discussing development all the way South to Florida and up along the Florida Gulf Coast all the way to Galveston Bay and Houston, with detailed discussions of Mobile and New Orleans along the way. And even discounting its heavy emphasis on global warming / global cooling / climate change / whatever the alarmists are calling it these days, the book paints a very stark picture about just how much coastal redevelopment costs people all over the country, including the landlocked midwest, due to heavy Federal subsidies in the post-WWII era. Its ultimate points are solid, yet it is also extremely realistic that the best solution to the problem is extremely politically unlikely. Very much recommended reading, and certainly a discussion that should factor into election discussions going into the 2020 Presidential race.
