The Economic Loss Of Terrorism

of 9/11. Also, you 'll learn of the secondary economic impacts of terrorism which include effects on

Domestic terrorism has played a major part in shaping the societies of the United States. The ideologies of individuals can become radicalized. This can lead to a movement. This movement involves the infliction of fear upon the communities, in attempt to make it a better world. It is critical to examine the events created by one man’s extreme ideologies in effort to better understand.

The War of Terror led to economic problems in the United States. A lot less money was being spent on it's many domestic affairs. The 9/11 attacks introduced a new plethora of challenges. The 2008 financial crisis was still an ongoing predicament; consequently, fewer funds were available to boost the United States out of the economic deficit (Amadeo). This had a drastic impact on the country's unemployment rate. It was at 5.1 percent as of August of 2002 (Yerger). The United States was certainly detrimental in it's economics; nevertheless, various national organizations decided to fight back. In mid-October 2002, the Department of Transportation sent a proposed legislation to Congress in hopes of strengthening security and safety in transportation

Per the Federal Bureau of Investigation (FBI), domestic terrorism is an offense that is intended to influence or affect the conduct of government through intimidation or coercion. It can also be considered as a retaliation against government conduct. Terrorism violates many statutes, including 18 U.S.C. § 2332b, § 930(c), which relates to killing or attempting to kill during the attack of a federal facility with a dangerous weapon; and § 1114 which relates to the killing or attempted killing of officers and employees of the U.S (FBI, 2016). To be classified as an act of domestic terrorism, the event must contain specific criteria, such as the involvement of acts that are dangerous to human life that are in violation of federal or state law.

For a more robust test of the relationships, we conducted a series of stepped logit regressions, the first of which are summarized in Table 8, Analyses 1 and 2. Analysis 1 looks at the relationship between Terrorism Exposure and Firm Performance Resistance, with Time Since Last Attack as a moderating variable. Analysis 2 looks at the relationship between Terrorism Exposure and Firm Performance Resistance, with Business Continuity Plan as a moderating variable. The overall percentage shown in the model summary (Overall %) is the predicted percentage of firms that would have the outcome of resistance (coded as 1) to the focal terrorist attack – meaning that the stock price did not drop by 0.5% or more. Finally, the Nagelkerke R squared and the statistical significance (Model

The primary source of data is the open source Global Terrorism Database (2015) known as the GTD and maintained by the National Consortium for the Study of Terrorism and Responses to Terrorism (START). START is a Department of Homeland Security Center of Excellence at the University of Maryland that has been tasked by the Department of State to collect statistical data on terrorism in support of the annual Country Reports on Terrorism. GTD (2015), accompanied by an instructive codebook, contains 141,967 rows and 108 columns of data categorized and coded into fields, as shown in Table 3. We use relevant statistical data from the GTD (2015) to measure the independent and moderating variables. We augment the GTD data with terrorism data collected in the RAND Database of Worldwide Terrorism Incidents, a compilation of 40,000 incidents of terrorism coded and detailed from 1968 to 2009 (RAND Database of Worldwide Terrorism Incidents, 2015).

The Economic consequences of terrorism (Lenain, P (2002) stated that Private businesses suffered profound destruction of assets that was calculated in national accounts to amass to $14billion, state and federal government enterprises suffered a loss in the region of $2billion, what was also astounding to read was that the rescue and clean-up costs totaled to an amount of at least $11billion.

History is made every day. Some may be good and some may be bad, some may be ground breaking discoveries and some may be heart shattering tragedies. History will never stop being made and it is our job as united citizens, politicians, and leaders to make sure that a great America will go down in history books forever. I want America to seem like the great place that it is to generations and generations to come.In my opinion America is headed down a bad path. Terrorism is a horrible thing yet there is no doubting that rates of terrorism have raised within the last ten years. One of the worst parts of terrorism after September eleventh is that most terrorist attacks in America were caused by of American citizens. Although terrorism is a heinous

at home and and abroad could be far more valuable assets than military triumphs”. Compared to Irish civilians during the begging of the fight towards independence, the FLN did not receive much support from the native population. The FLNs tendency to terrorize indigenous Alger’s, shake down villagers for money, and kill those who resisted contributed to the native populations indifference attitude towards the FLNs cause. In 1956, the FLNs leaders realized they had to change their strategy in order to attract international attention. They believed that the use of terrorism would gain them credibility amongst the Muslim population and lead to an increase in violence by French authorities against Muslim population. The increase in terrorism by the FLN lead to the desperate retaliation by the French.

Post 9/11 - Scholarly research of terrorism spiked following the events of September 11, 2001 but research on terrorism has steadily declined since 2006, as illustrated in Figure 4. Furthermore, a 2002 business continuity planning survey designed after the terrorist attacks of 9/11 revealed that two-thirds of the firms surveyed did not view malicious activity, such as terrorism, as a threat to business (Cerullo & Cerullo, 2004). The development of a business continuity plan has proven to mitigate the impact of a disaster such as a terrorist attack (Cerullo & Cerullo, 2004). However, a post 9/11 survey designed by Ernst and Young revealed that only 53% of the firms surveyed had a business continuity plan (Cerullo & Cerullo, 2004) to deal with terrorism type disasters. Similarly, a 2016 business survey from Clements Worldwide (2016), a leading global insurance provider founded in 1947, uncovered only 16% of the respondents said they were as prepared as they could be to deal with terrorism.

Terrorist is among the most despicable labels a human being can have. Terrorism, by its very definition, means “the use violence or threats to intimidate especially for political purposes.” (Merriam Webster) There are many examples of this in American History: the Wall Street bombing in 1920 or the Oklahoma City bombing in 1995 (List 25). Terrorism is a tool used by deprived people to carry out nefarious acts of evil. Sadly, America has become very well acclimated to this evil in recent years. Ever since 9/11, nothing has been quite the same, especially when it comes to our safety. After the infamous attack, using a combination of Logos, Pathos, and Ethos, George W. Bush gave a message of reassurance to all Americans. He gave hope to those who thought they had none and a solemn promise that the American government would stop at nothing to extinguish the destructive forces of terrorism.

Among lots of these outside factors is terrorism – because of the unlawful use of violence and intimidation, particularly against civilians, inside the pursuit of political aims. The oblique outcomes of terrorism create the maximum danger to the activities of companies and then throughout the supply chains (Barry, 2004). The consequences of terrorism can cause the reduction customers wanting specific goods and services, due to the mental reaction of clients. The acts designed to attain beyond the instant target to intimidate a broader audience, to include religious groups, corporations, political parties, or the whole United States. Terrorism acts aimed at accumulating exposure to introduce political change via impact and strength.

Terrorism Experience is an independent variable representing the depth of proficiency, knowledge, best practices and insights that corporations, who were directly impacted by a specific terrorist incident, acquire from coping with the effects of terrorism. The Terrorism Experience is measured in terms of the cumulative number of terrorism incidents that directly affected the firm. The number of attack incidents on a firm is a Traditional type of terrorism measurement as categorized by Frey et al. (2007) in Table 2. The data source for measuring the Terrorism Experience independent variable is the counts of the Event Identification Number, representing the year, month and day of the terrorist incident from GTD (2015), as shown in Table 3.

We created a scatter plot of the minimum sample size at a range of anticipated effect sizes given the probability level of 0.05, the five predictor variables in our conceptual model, and the generally accepted statistical power threshold of 0.8 (Cohen, 1988). Based on the availability of stock price data for measuring the dependent variable, we focused on Fortune 1000 MNEs since 1990, which narrowed down the possible incidents from 141,967 in the GTD to 158 terrorist incidents, representing 37 different MNEs.

Terrorism has proved its negative impacts on the economy of the country by retarding the economic development and reducing the level of industrialization. Terrorism can be defined as countries interference by use of ruthless means which can be as a result of political or religious struggles. Civilian enforcement is a term employed in the America to refer to the police. Police officers play a significant role in the process of fighting terrorism. In order to realize the role of law enforcement officials, the government of the United States came up with a number of strategies which include: