, Columnist
Experience Shows the U.S. Can Weather the Storm
There's reason to be concerned about the strength of flood insurance programs, but overall the economy can handle Harvey.
Strength.
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As the rain and wind from Hurricane Harvey clear out, and the physical and human toll becomes clear, it's worth looking at what research tells us about storms and their costs. In particular, recovery and resilience are often stronger forces than we expect.
The storm, although described as an unprecedented weather event for the U.S., isn't leading to general forecasts of a recession. The stock market reaction has been muted, even though Houston is the nation's fourth largest city.