Disaster capitalism
Disaster capitalism is a term used to describe how some companies or people benefit from large scale disasters, such as natural calamities, war, or political or economic instability. Think of it this way- let's say your neighbor's house catches fire. A company that deals with fire extinguishers and repair services would make a lot of money from this situation, right? This is exactly how disaster capitalism works, but on a much larger scale.
During a major disaster, people are often desperate for help and resources, and the government or local agencies may be overwhelmed or unable to provide everything that people need. This creates an opportunity for some companies or individuals to swoop in and take advantage of the situation by charging high prices for goods or services that are in high demand. Sometimes, they may even work with governments to take advantage of the disaster to change policies, exploit resources, or gain political power.
For example, after Hurricane Katrina hit New Orleans in 2005, many public schools were destroyed, and the government had to create new, temporary schools to accommodate the students. Some private companies saw this as a chance to make a profit and began providing educational services that were previously provided by public schools. They charged a lot of money for their services, which meant that only those who could afford it could get an education post-Katrina. This is a classic example of disaster capitalism in action.
In summary, disaster capitalism is when individuals or companies take advantage of people's needs and miseries during large-scale disasters, in order to turn a profit or achieve personal gain. It often involves exploiting vulnerable communities, worsening inequality, or promoting policies that benefit a few at the expense of many.
During a major disaster, people are often desperate for help and resources, and the government or local agencies may be overwhelmed or unable to provide everything that people need. This creates an opportunity for some companies or individuals to swoop in and take advantage of the situation by charging high prices for goods or services that are in high demand. Sometimes, they may even work with governments to take advantage of the disaster to change policies, exploit resources, or gain political power.
For example, after Hurricane Katrina hit New Orleans in 2005, many public schools were destroyed, and the government had to create new, temporary schools to accommodate the students. Some private companies saw this as a chance to make a profit and began providing educational services that were previously provided by public schools. They charged a lot of money for their services, which meant that only those who could afford it could get an education post-Katrina. This is a classic example of disaster capitalism in action.
In summary, disaster capitalism is when individuals or companies take advantage of people's needs and miseries during large-scale disasters, in order to turn a profit or achieve personal gain. It often involves exploiting vulnerable communities, worsening inequality, or promoting policies that benefit a few at the expense of many.
Related topics others have asked about: