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Club Formation and Response To Natural Disaster: An Example From South Carolina

Club Formation and Response To Natural Disaster: An Example From South Carolina In 2016, Hurricane Matthew caused approximately 10 billion dollars of damage in the United States and nearly 350 million dollars in South Carolina. The historic rainfall damaged or completely destroyed roads, bridges, buildings, crops, and dams. This paper documents how one small lakefront community in eastern South Carolina formed a de facto Buchanan Club to fund the reconstruction of a dam destroyed by Matthew and restore a small lake, an exemplary club good. This private response was needed because both the Federal and State governments declined public assistance. In the end and roughly approximately two years after Matthew, the dam was repaired and the lake refilled with the rainfall of Hurricane Florence.JEL Classifications: H00, H41, H89 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The American Economist SAGE

Club Formation and Response To Natural Disaster: An Example From South Carolina

The American Economist , Volume 67 (1): 7 – Mar 1, 2022

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References (28)

Publisher
SAGE
Copyright
© The Author(s) 2021
ISSN
0569-4345
eISSN
2328-8123
DOI
10.1177/05694345211049536
Publisher site
See Article on Publisher Site

Abstract

In 2016, Hurricane Matthew caused approximately 10 billion dollars of damage in the United States and nearly 350 million dollars in South Carolina. The historic rainfall damaged or completely destroyed roads, bridges, buildings, crops, and dams. This paper documents how one small lakefront community in eastern South Carolina formed a de facto Buchanan Club to fund the reconstruction of a dam destroyed by Matthew and restore a small lake, an exemplary club good. This private response was needed because both the Federal and State governments declined public assistance. In the end and roughly approximately two years after Matthew, the dam was repaired and the lake refilled with the rainfall of Hurricane Florence.JEL Classifications: H00, H41, H89

Journal

The American EconomistSAGE

Published: Mar 1, 2022

Keywords: club; club goods; homeowners association; initial assessment fee; dues; free rider

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