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What about growth? Areas that were corn fields 20 years ago now have houses, malls, commercial, mfg plants, etc. We have a greater population that is spread o
by pragmatic 15y ago
What about growth?
Areas that were corn fields 20 years ago now have houses, malls, commercial, mfg plants, etc.
We have a greater population that is spread out. What was one a small crop disaster for farmers is now a very costly disaster for a municipality.
Does the study account for this? Is this a valid concern?
tl;dr:
We have more "stuff" to ruin now.
- pragmatic 15y agoAlso how do you _really_ adjust for dollars. A mfg plant built in 1985 is not equivalent to one built in 1995 or in 2005. Same with houses, etc. Our infrastructure is more advanced, more costly and more complicated. What about things that didn't _exist_ in 1985, like fiber optics and cell phone towers (or barely existed).
- fleitz 15y agoAgree with you on infrastructure and more importantly the dollar adjustment. CPI is a nice handy tool for things that could damage the basket of goods in contained in the CPI but it's wildly inappropriate for weather disasters because the weather disasters primarily cause damage to capital infrastructure rather than consumer goods. Case-Schiller, M3, or DOW, S&P 500, would be much better numbers to use for adjusting damage to capital infrastructure. Even then it's kind of a crap shoot as none of those price indexes really accurately reflects the kinds of property damaged by weather.