Earthquakes Cost More in Rich Countries but Devastate Poor OnesBy
Northern California suffered its strongest earthquake in 25 years on Sunday, and although 120 people were injured, not a single fatality was reported. Meanwhile, the U.S. Geological Survey put initial estimates of economic losses at $1 billion. Both the low human cost and high economic cost illustrate constants in natural disasters: They are far more expensive—and far less deadly—in rich countries.
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