The government (local, State, and Federal) appropriated responsibility
for the Mississippi River levy system, the drainage systems, the pumping
systems, the road ways, and the bridges, but apparently, they left it to the
market to provide the service of evacuating the poor and the infirm.
I guess the market failure would be one of capital markets not being able to
respond fast enough and offering high interest loans to the poor and infirm in
N.O. so that they could pay to evacuate within a day or two. Possibly, the
market for information failed in that people in N.O. did not
In a message dated 9/6/05 8:50:04 PM, [EMAIL PROTECTED] writes:
I'm not sure the premise is entirely correct. About 30% of the
(former?) population of New Orleans is below the federal poverty line,
yet 80-90%
The federal poverty line is just a politically-determined level at one time useful
