How smart is Smart Growth?
But density has consequences. Cramming more than half the world’s population and production onto a relatively small area of mostly coastal land means that the cost of natural catastrophes of all kinds will rise dramatically. This year’s earthquake in Japan, which caused more than $300 billion in economic damage, was just a preview; a decade and a half from now, a single hurricane or earthquake will come with a potential price tag of $1 trillion or more. Imagine a world in which economic damage equivalent to that caused by a major war or the detonation of a midsized nuclear weapon in a major city could materialize with a warning of only a few days (in the case of a hurricane) or just one second (an earthquake).