The recent flooding that hit Louisiana is the worst natural disaster to hit the United States since Hurricane Sandy hit New Jersey in 2012. So far we know that at least 13 are dead and tens of thousands were left homeless in the flooding. Even worse, most of those affected do not have flood insurance. Up to $21 billion worth of housing stock was wiped out by the deluge of rain.
The recovery will be long and difficult in one of the poorest states in the country. There is the challenge of finding employment and housing for all these displaced people. Given the fact that Louisiana is a hot and humid state most of the year, there will also be the issues of dealing with mold and increased injuries as people try to rebuild.
But one of the greatest stories of the Louisiana flooding is how the people and free markets are playing a role in helping to both rescue people and deliver relief much quicker than the government.
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