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I'm not sure what being rich has to do with this? If we understand the causes correctly, then this is just a negative externality. Negative externalities aren
by cle 10y ago
I'm not sure what being rich has to do with this? If we understand the causes correctly, then this is just a negative externality. Negative externalities aren't bad only when the affected party is poor, they're bad because the affected party didn't have any choice in incurring the cost of someone else's behavior.
- throwaway18917 10y agoBut nobody's forcing you to buy property on the water, especially when you're just doing it to turn a profit. The same profit motive which is driving oil companies to ignore global warming in the first place. Being rich has everything to do with this.
- JBReefer 10y agoI agree with you in theory, but if I drive a car straight into the ocean, do I deserve a government bailout? If I land a helicopter in a marsh, and it is ruined, should I be bailed out? This is the same thing, but just much slower. Tons of that coastal housing is new, the idea of rising sea levels is certainly not new, and we've seen this coming for a long time. This is basically choosing to drive your house into the sea, and then demanding a handout. I do think we should subsidize moving buildings farther inland, or putting them on stilts like they did in the Rockaways post Sandy, but just straight buyout? Forget about it.
- deleted 10y ago[deleted]