ECONOMIC IMPACT OF THE JAPAN'S EARTHQUAKE

The Real Economic Impact of the Japan's Earthquake

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The Real Economic Impact of the Japan's Earthquake

Introduction

The earthquake has hit Japan on Friday 11th March 2011 it was a big disaster that had a huge impact on Japan's economy. It was an earth quake and a tsunami and was officially named as the Great East Japan Earthquake; this earthquake was measured at 8.9 magnitude earthquake. The impact of the earthquake was worse it has disrupted the transportation and service system in Japan also it has also caused a huge damage to the infrastructure of Japan. In order to cover the damages created by the disaster on a larger scale the government has to invest the large amount of money to rebuild all again whatever have been damaged. But the damage that has been caused to infrastructure and to the capital stock it will also hinder the economic growth in short term (Key, 2011).

The earthquake and tsunami when it has stroked the Japan it swept over the cities and the farmland in the northern part of the country. It was the most powerful earthquake ever hit the country. The death toll has been raised to 14,133 and more than a 13,346 people were missing. More than 130,000 people had left their houses because of nuclear crisis, and the earthquake has done a vast damage to the business and infrastructure of Japan. (Obata, 2011)

Value of Information

Value of information is generally considered as the value or actual price one should pay to receive essential information about an uncertain event or mishap that may be avoided be acquiring useful timely information. This also helps the information taker to decide upon a final course of action. The information collected is a very useful tool for data analysis data collection and final decision making. Information by definition stands for “reduction of uncertainty.” and the cost associated with it makes it a value of information.

Value of Information and Natural Calamities

Several Rescue Teams or Army Navy Militants who visit a country that has undergone a natural disaster are well equipped well literate people with sound knowledge about disaster management. This is the value of information provided by them to civilians. Many safety measures are provided by them to stay safe if there is any other calamity. Earth quake resistant houses and buildings are not established in one day it is a result of various valuable information's. The countries use Rector Scale it is used to measure the level of an earthquake satellite based crises information and assessment of risk is the greatest example of value of information. Various Protective measures are also provided to civilians to stay safe one should drop down cover their heads and bend down, or cover their heads with a piece of wood. The person should sit under a table or stand besides a door in case of feeling a tremble (Bank Credit Analyst, 2011).

One should avoid standing in a doorway and running from ...