Essay about America 's Rebuilding New Orleans
Angel Pantoja Argosy University
New Orleans had a major catastrophic event back in August of 2005. Hurricane Katrina was a category 4 Hurricane which caused so much destruction that it literally wiped the entire city out. Since this event, there has been active debate in the US for rebuilding New Orleans, which may consume lot of federal government investments. We will work on carrying out a CBA analysis of rebuilding New Orleans. Based on this I will recommend whether or not the rebuilding of New Orleans is worth it. I will advise local as well federal government on my stance.
Assessing all the costs of rebuilding New Orleans C and compare it with all the benefits achieved in rebuilding it. Assessing all the costs related to rebuilding New Orleans is not a difficult task as compared to analyzing and assessing all the benefits. Since some of the benefits achieved are social and environmental, they are most difficult to quantify. In the very early stages of rebuilding, the officials have estimated overall costs of rebuilding to be $32 billion after a Hurricane strike like Katrina. But the benefits associated with it varies largely on parameters such as probability of occurrence of such flood like events, discounting rate considered, growth rate of the economy in consideration risk aversion and damage heterogeneity etc. If the costs of rebuilding New Orleans are lower than expected benefits than we should rebuild New Orleans…