Synthesis Research On Natural Disasters

The economic principle that I examined was Institutions.  There are many situations where this economic principle can be applied to the real world. For instance, I found that many examples of this principle while studying my research topic: How should government institutions (e.g. FEMA, Congress, etc.) allocate scarce resources for natural disaster relief? In my first blog post I focus on the current levels of federal funding and how they are allocated. During my research, I came to the conclusion that our government institution have put aside money to fund the certain expenses that natural disasters recuperation requires. Secondly, I discovered that there are particular qualifications for the classification of natural events. In order for a natural disaster to be qualified as one, it has to occur in a populated area and there has to be a loss of some sort. Natural disasters are measured by the damage that is done whether it is the amount of casualties or the how much land is destroyed. In order for the government to be able to put in their emergency funds, this has to occur. FEMA and different government institutions also work alongside aid organizations like the American Red Cross. The American Red Cross managed to raise $56.4 million for Irma  $31.6 Maria  $350.0 million for hurricane harvey, helping millions of families get through the hard times. This foundation provides an incredible amount of money to those in need, allows people all over the world to help pitch in, and helps get donations of blood to help those in need. Overall, you can see that government institutions should be allocating their resources from aid organization such as the American Red Cross because they have been incredibly efficient in funding for natural disasters. The government funds can only cover so much, and that is when the aid from the Red Cross and other organization can prove to be very helpful.