Economics and Terrorism
September 11, 2001
It has just been 5 years since the deadly terrorist attacks on the World Trade Centre in New York. Never in our history, has terrorism affected us so much.
Since 9/11, many things has changed. More funds were allocated towards anti-terrorism, airport restrictions became extremely tight and revenue from tourism dipped. Changes in goventment policies and even international relations. Migration and labour generation.
As Economist, we have to ask ourselfs since terrorism affects so much of our daily lives today, what does it do to the choices that we make. What are the current changes in the government policies ? Our choices of travel destinations ? Where we choose to study ? To take public transport ? Where to live ?
I believe that terrorism should now be taken account into our economic policies, models and theories considering it significance in the world today. I am interested in how terrorism affects growth of countries and read up more in that area.
I would like express my condolences to those whose lives has been affected.
It has just been 5 years since the deadly terrorist attacks on the World Trade Centre in New York. Never in our history, has terrorism affected us so much.
Since 9/11, many things has changed. More funds were allocated towards anti-terrorism, airport restrictions became extremely tight and revenue from tourism dipped. Changes in goventment policies and even international relations. Migration and labour generation.
As Economist, we have to ask ourselfs since terrorism affects so much of our daily lives today, what does it do to the choices that we make. What are the current changes in the government policies ? Our choices of travel destinations ? Where we choose to study ? To take public transport ? Where to live ?
I believe that terrorism should now be taken account into our economic policies, models and theories considering it significance in the world today. I am interested in how terrorism affects growth of countries and read up more in that area.
I would like express my condolences to those whose lives has been affected.
6 comments:
Terrorism has always affected us. it has been called different names. Some have terrorised others for land, money, women, power, religion and what not.
The most malignant are the ones which are carried out invisible to the common populace.
PS:I have added you. :)
Good writing.
Thanks lot for the link and your valuable comments. :)
the common impacts on an inflicted country's economy we usually heard are how tourism and foreign investment are affected.i agree with those.
on the other hand,i am also considering how it affects infrastructure in a country.the bombings destroy the roads or buildings etc and the cost of rebuilding them is immense.in my macro lecture,i learnt that infrastructure is one of the major factors affecting a country's econ growth so i thought i will just try to relate to what i haf learnt:)
To Alex :
Yes, I agree with you. Terrorism has been around and with many different forms. Some people even call organizations like the IMF as terrorist to the developing countries. So are you suggesting that the impacts to the economic decision is minimal because it is not something new ?
To SS:
Yeah, I agree with your comment too. Important infrastructures like bridges and airports plays an important role in the economy of a country. So an important question is how do we account for this destruction of intrastructure in our economy ? Do we take it as depreciation ? Does our GDP accounting take account of this too ? If so, how ?
Those are the questions that puzzle me.
Impact on economic policies are there, especially in countries which have faced the brunt of war, both covert and overt.
More than its impact on economic policies, it is a threat to the whole mankind.
Are you talking about the economic decisions of the country which has faced the brunt?
Thanks for this fine blog. I've added you and will revisit regularly.
Another point of how terrorism effect s our western economies is the provision of the budget that is made available for issues in defence and domestic national security. Money that lacks to invest into infrastructur or education and so on...
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Niklas
niklas.p@tzold.de
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