Economic consequences of the september 11th terrorist attacks

Economic consequences of the september 11th terrorist attacks

ECONOMIC CONSEQUENCES OF THE SEPTEMBER 11TH TERRORIST ATTACKS.

The United States September 11, 2001, terrorist attacks left the feelings of uncertainty and confusion to the American citizens. There was an immediate concern about national security which is a fundamental value in the foreign policy of states. Everyone was in a state of fear of the possible future attacks. At the same time it was hard to comprehend how these attacks could impact both the US and the global economy. The uncertainty was guaranteed because the United States was already in the midst of a recession. In addition the attacks on the pentagon in Washington were perceived as attacks on a military target and on the other hand the attacks on the World Trade Center which was an important economic symbol were a civilian target. As a consequence there was a four day hiatus of all activities at the Wall Street (Jackson, March 3, 2008).

Many attempted to predict the impact of the attacks on the United States economy and as a result there was basically a formulation of three schools of thought. The first comprised of the insignificant few, who projected that the economy would worsen, then the people will have to go through a tough recession period then lastly United States will no longer enjoy hegemonic power which simply means a system which is regulated by a dominant leader, or political domination of a region, usually by a superpower. The second school of thought was made up of realists who believed the United States will maintain its position in world economy despite the terrorists attacks mounted on them. These group of people believed that the United States was still headed to its original direction despite the attacks on the pentagon and the world trade center although if it happened that another attack was experienced then the country was probably going to continue with the recession. Finally the third group who are certainly the liberalists who embrace the concept of globalizations and its effects projected more benefits which were going to result from the attacks. They were optimistic that the situation was certainly going to improve because the country was going to improve the strategies and technologies on how to combat terrorism.

The United States and most parts of the world were in shock because almost no one believed that the US will definitely be hit by such crisis. In addition it meant that most businesses were going to be on the standstill because the capitalist area (world trade centre) had also been attacked. People were also concerned about the state of the economy because they were already going through a hard time (recession).

Finally, the event was a paradox in itself because no one was able to analyze the whole situation fully because it seemed that some key leaders were part of the attack coordination. It was obvious that the United States was going to take severe measures to those involved in the attacks.This is reflected clearly in the United States declaration on the "war on terror".

POST COMMENT

Fix runtime error 91 immediately Troubleshooting error code 19 Fix error code 36 in minutes Fix runtime error 249 instantly Fix runtime error 420 easily How to destroy runtime error 277 Win Spy Software Pro Free Corelynx An Open-Source software Solution Good Global Recruitment Solution Practices Are Possible With Good Software Benefits of Hosted Dialer Software Factors to Consider With Hosted Dialer Software A Guide to Predictive Dialer Software Hosted Dialer Software