Economics of the War on Terrorism :: Economics War Terrorism choice bomb World Trade Center more than symbolic. collapse towers coincided slowing global economy probably intended cause much economic physical harm. crisis will deep repercussions number areas; while some parts hurt, other sectors may actually benefit, possible increased defense spending stimulate short run. requires openness speed, whereas Economics 9/11 Recession Essays Economics of the War on Terrorism

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Economics of the War on Terrorism

The choice to bomb the World Trade Center was more than symbolic. The collapse of the towers coincided with a slowing global economy and was probably intended to cause as much economic as physical harm. The crisis will have deep economic repercussions in a number of areas; while some parts of the economy will be hurt, other sectors may actually benefit, and it is possible that increased defense spending could stimulate the slowing economy in the short run. A global economy requires openness and speed, whereas increased security often entails putting up barriers and walls. The war on terrorism will also dramatically increase security costs at every level. America's distant global commitments may become enormously expensive and draining. The war on terrorism will decrease consumer spending, the stock market, exchange rates, airline costs, and immigration rates. Furthermore, how will a slowing global economy respond and deteriorate the slowing American economy?

The terrorist attacks on the World Trade Center will cost New York?s economy up to 105 billion dollars and 115,000 jobs. Allen Hevesi, the city comptroller, did a recent report of the breakdown of some costs: Rebuilding the World Trade Center as smaller buildings will cost 6.7 billion; Repairing and restoring other damaged buildings will cost 5.3 billion; Value of equipment, vehicles, computer systems destroyed will cost 12 billion; Lost wages using estimate of 5,600 people w... [to view the full essay now, purchase below]

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