Total non-insured damages arising from hurricanes in 2005 are likely to end up costing the federal government at least $109 billion in post-disaster assistance and $8 billion in tax relief, nearly three times the estimated insurance losses.6 According to Naomi Klein, this is symptomatic of a dysfunctional ‘Disaster Capitalism Complex’, which generates private profits for some, but leaves taxpayers to foot the true costs of catastrophe.7 In the face of such ruinous bills, what is the right way to proceed? When insurance fails, is the only alternative, in effect, to nationalize all natural
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