After Hurricane Sandy: To Rebuild Or Not To Rebuild?
After Hurricane Sandy, many homes are damaged and are on the way to being rebuilt. In an era of shrinking budgets and resources, a question arises: is rebuilding in areas where disaster are bound to strike again a moral hazard? Some certainly think so, the Journal's Christopher Rhoads and Leslie Scism quotes "Sandy’s destructive path has united an unlikely coalition of free-market think tanks, environmentalists, business owners, and insurers arguing the moral hazard of rebuilding in coastal zones that might best be returned to nature." Should we return these coastal zones to nature?
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