| Publication |
2011.
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| Summary/Abstract |
Developed and developing nations alike face low-probability but high-consequence exogenous shocks, including ice storms, chemical spills, terrorist attacks, and regional blackouts. Recently, "natural" disasters have dominated the airwaves; mega-catastrophes that claim more than 1,000 lives have become an almost yearly occurrence. In 2010, the Haiti and Chile earthquakes killed more than 200,000 people between them and felt all too familiar to many observers in the West. Before them were Cyclone Nargis in Burma, which took 130,000 lives in 2008; Hurricane Katrina, which killed more than 1,500 New Orleans residents and left 80% of the city flooded in 2005; and the Indian Ocean tsunami, which claimed roughly a quarter of a million lives in India, Indonesia, Sri Lanka, and Thailand in 2004.
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