Hurricane Katrina and the U.S. Economy

Paper Summary:

This paper introduces, discusses and analyzes the topic of the U.S. economy. Specifically, it discusses what effect Hurricane Katrina has had on the U.S. economy so far, and what may be some of the implications for the future. Hurricane Katrina's full effect on the United States' economy may take years to fully develop and understand. Katrina's effect may even be felt worldwide by the time all the affects are analyzed and tallied up. The immediate costs are quite simple to see - skyrocketing fuel costs instantaneously after the hurricane hit, lost jobs and billions of dollars in aid. However, there are other long-term costs in human life, inflation and rising interest rates that can only play out over time. The writer claims that the U.S. economy is going to suffer from the affects of hurricane Katrina and that it just remains to be seen just how much it will suffer.

From the Paper:

"The Katrina crisis may also affect the nationwide auto industry. With fuel costs so high, many people are looking for alternatives to low gas mileage vehicles. There has been a lot more public interest in more fuel-efficient vehicles, such as hybrids, which use a combination of gas and electric-powered engines to run more efficiently and save fuel. Already, many auto manufacturers are beginning to advertise their more fuel-efficient models to bring consumers back into auto showrooms. For years, most Americans have been more concerned with large, high-power, low-mileage vehicles with little regard to fuel economy. This energy crisis may finally create the need for more low-cost, high-efficiency vehicles, and force Detroit automakers to find new technologies to help conserve fuel."

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