Impact of the 9-11 Attacks on the American Economy Research Paper by Nicky

A thorough examination of the immediate and lasting effects of the 9/11 attacks on the United States' economy.
# 145542 | 5,806 words | 20 sources | APA | 2010 | US
Published on Nov 14, 2010 in International Relations (U.S.) , Economics (National) , Hot Topics (Terror and 9/11)


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Chosen as a "Paper of the Week":

Paper of the week
September 11, 2013 marks the 12 year anniversary of the September 11, 2001 terrorist attacks against the US.  These attacks had multiple effects on the US political, military, social, and economic spheres.  September 11, 2001 is a day that is worth remembering, not only for the brutality and tragedy of the attacks, but also for the spirit of recovery and triumph that followed within the US.  Paper #145542, "Impact of the 9-11 Attacks on the American Economy", takes a look at just one area affected by the terrorist attacks, the US economy.  This is a very detailed account of the impact of the 9/11 attacks, the strengths and weaknesses of the US economy, Western-Islam relations, the causes and effects of the attack, and much, much more.  The paper is fascinating to read and offers intelligent insight and analysis about the US economic situation.  It concludes that, despite the challenges encountered, the United States remains the strongest economy of the globe. 

Description:

This paper examines the impact of the September 11th terrorist attacks on the economy of the United States. The paper opens by explains that, as a country with one of the shortest histories in the world, the U.S. became in a limited period of time the strongest economic power of the globe; as such, its actions are both praised and condemned. The paper notes that while the U.S. welcomed individuals from all parts of the globe and implemented the concepts of fairness and democracy to sustain its growth and development, the U.S. military invaded various territories under the umbrella of world peace, attracting both advocates and fierce disclaimers. The paper adds that among its most powerful ideological opponents were the countries in the Middle East, such as Iraq and Afghanistan, with whom the U.S. shared endless differences in goals or cultural visions. The paper asserts that the causes of the attacks have generated wide speculations, but the generally accepted idea is that they were caused by a religious misperception of a morally flawed Osama Bin Laden, the leader of Al-Qaeda. The paper concludes that the quick responses to the attacks on WTC and the Pentagon marked the commencement of the War on Terrorism, which would generate the largest and most severe effect upon the U.S. economy - the largest ever federal debt and the skyrocketing costs of funding the military and diplomatic efforts of the U.S.

Outline:
Introduction
The American Economy
The Western - Islam Relations
The 9/11 Terrorist Attacks
Economic Impact of the September 11 Attacks
Causes and Effects of 9/11
Concluding Remarks
References

From the Paper:

"Considering the expected increases in the insurance rates, the higher spending in defense and security, along with the slowdown of the economy, materialized at this point in longer times to wait to commence and complete the activities, economic agents are likely to incur increased operational costs. Then, as the costs of transportation and freight increase, it is expected that the manufacturers will have to hold larger levels of inventories for extended periods of time. A most relevant example in this instance is offered by the automobile industry, which had to halt manufacturing as the shipment of car parts was ceased immediately after the attacks. Another effect is generated by the fact that the insurance organizations will manifest a reduced interest in risk and will accordingly increase their premiums, leading to financial pressures on the economic agents. The latter will be forced to reduce their economies and investments as they will be obliged to pay increased insurance rates. In terms of the switch of resources from the civilian population to the military, this will occur with the intent of increasing the levels of safety and security within the country. Governmental subsidies could decrease and negatively impact the for-profit entities, which were given various incentives prior to 2001. In addition, the focus of research and development (the IT industry) might move from the business community into the military, generating the usage of outdated technologies by manufacturers and service providers. Finally, in terms of globalization, the American entrepreneurs paid the prices of increased insurance and freight costs as well as those of delayed production due to delays in transportation. In the future, this may materialize in an increased interest towards investments in the domestic organizations, rather than international plants and providers (Looney, 2002)."

Sample of Sources Used:

  • Bergen, P., 2006, What Were the Causes of 9/11? Prospect Magazine, http://www.prospect-magazine.co.uk/article_details.php?id=7717 last accessed on February 19, 2009
  • Bernbaum, B., 2004, Most 9/11 Families Opt for Fund, CBS News, http://www.cbsnews.com/stories/2004/06/15/national/main623139.shtml last accessed on February 19, 2009
  • Brown, G., October 2001, Mutual Misperceptions: The Historical Context of Muslim-Western Relations, Parliament of Australia, Parliamentary Library, http://www.aph.gov.au/library/pubs/cib/2001-02/02cib07.htm last accessed on February 19, 2009
  • Dolfman, M.L., Wasser, S.F., 2004, 9/11 and the New York City Economy: A Borough-by-Borough Analysis, Monthly Labor Review, Retrieved from http://www.bls.gov/opub/mlr/2004/06/art1full.pdf on February 20, 2009
  • Gates, A., 2006, Buildings Rise from Rubble while Health Crumbles, The New York Times, http://www.nytimes.com/2006/09/11/arts/television/11dust.html?_r=1&ref=nyregionspecial3 last accessed on February 19, 2009

Cite this Research Paper:

APA Format

Impact of the 9-11 Attacks on the American Economy (2010, November 14) Retrieved November 12, 2019, from https://www.academon.com/research-paper/impact-of-the-9-11-attacks-on-the-american-economy-145542/

MLA Format

"Impact of the 9-11 Attacks on the American Economy" 14 November 2010. Web. 12 November. 2019. <https://www.academon.com/research-paper/impact-of-the-9-11-attacks-on-the-american-economy-145542/>

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