Question

Who pays for the loss of income of communities in areas affected by human made disasters such as the Deep Water Horizon oil spill? Can this loss be measured? What are the implications for future generations?

Answer 1

Solution:
The loss of income of communities affected by human-made disasters are generally paid by the party or business found completely guilty of causing the disaster. They are fined by the central governing authority for such a disaster and such fines are used to the redevelopment of the places and communities affected by such disasters. more often, many NGOs are united to work for such affected communities and help the communities by providing basic amenities such as food, healthcare, and shelter.

The extent of loss cannot be accurately measured but it is approximately estimated using various valuation techniques and then the approximate loss is reported. The implications for future generations are huge and may affect the next 2 to 3 generations of that geographical area. the after effects of nuclear bombs is a very good example. The repercussions of manmade disasters are very high and the price to pay is often very higher.