Economic Losses due to Terrorist Attacks in the United States: Essay

Sample Essay

Words 986

Events that occurred on 11th September have had far-reaching consequences for the whole world in general but especially for the United States of America where the impact has been greatest, affecting the country socially psychologically and economically. The U.S. economy was already in a decline and there was an economic slowdown, however, the events of 9/11, as it has been called, severely affected the projections which were quite positive. As Brian Westbury has observed in his report:

“The costs of 9/11 have never been accurately gauged; however, it is speculated to be upwards of $120.” (Wesbury 1)

In addition to taking many lives, the attack on the World Trade Center also destroyed a lot of material and human capital.  Apprehensions about security have now become dominant, and individuals, businesses, and government are spending more to protect themselves from terror attacks.  Some of the expenditures of these measures will become more obvious in the long run.

At the national level, the main consequence of the attack is largely emotional.  Investment is a very good indicator of a country’s growth and health the investor confidence has been greatly been affected since the terrorist attacks and people are apprehensive about investing large sums. In addition, in a newspaper report it was stated:.

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