Much of the damage from the LA fires could have been averted
The lesson of the tragedy is that better incentives will keep people safe
The flames are still roaring, the fire crews are still battling and the people of Los Angeles have barely begun to grieve. As of January 16th, the wildfires that struck the city had killed at least 25 people and destroyed more than 12,000 buildings. Whole neighbourhoods look as if they have been firebombed. JPMorgan Chase, a bank, estimates that the bill for the damage will exceed $50bn, making these fires the costliest in American history . Even before the flames are put out, many Angelenos are wondering: could some of the pain have been averted? Alas, the answer is yes.
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This article appeared in the Leaders section of the print edition under the headline “Lessons from the Los Angeles fires”
From the January 18th 2025 edition
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