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Ten Years after 9/11 Terrorist Attack on Twin Towers? Did 9-11 influence economy / job / business?

On 9/11/2011 we will mark 10 years since the terrorist attacks in New York, Pennsylvania and Washington, D.C. Do you remember the moment you were informed about that incident? What all panicky thoughts had come to your mind? Which all TV channels you browsed through? Of course, there was no Facebook or Twitter to collaborate instantly.

The destruction of physical assets was estimated in the national accounts to amount to $14 billion for private businesses, $1.5 billion for State and local government enterprises and $0.7 billion for Federal government. Rescue, cleanup and related costs have been estimated to amount to at least $11 billion. Lower Manhattan lost approximately 30 per cent of its office space and scores of businesses disappeared. Close to 200,000 jobs were destroyed or relocated out of New York City, at least temporarily.

There are good number of people who say that the 9-11 tragedy has forever changed not only America, but our world view as well. Obviously, the US foreign policy and focus on terrorism has changed ever since. The nation weathered two recessions and stock markets aren’t much better off today than they were ten years ago. The reported surplus of $128 billion budget in 2001 turned out to be projected $1.3 trillion budget deficit in 2011.

Overall global security had tightened in terms of physical check and close monitoring of fund flow to the US economy. Now, the question is if the above restrictions affected the way in which you do the business for the past ten years. We look forward to hearing from you.

Here are our questions now:
DART Analysis

After the 9/11 terrorist attacks, the US reorganized its security apparatus, creating a host of new organizations to better address threats directed. This reaction, and the subsequent Global War on Terror, came at high cost both in terms of blood and treasure. As a direct result of 9-11 government had enacted Homeland Security infrastructure along with the TSA with increased security check points in airports. One might describe the post-9/11 approach to security as the taking of offensive actions overseas to defeat terrorist acts while undertaking defensive measures in the homeland. The US military, foreign service, and the overseas-focused aspects of the intelligence community have been focused on the away game while the post-9/11 creation, the Department of Homeland Security, the Federal Bureau of Investigation, state, local, tribal, and private sector entities have been guarding the homeland.

The national security strategy had prioritized to destroy terrorist organizations of global reach and attack their leadership. The objective was to disrupt the financial network of terrorist organizations, disrupt their money flow to reduce their capability to plan and execute future terrorist attack. The terrorist network employed intricate money-laundering schemes and the Hawala system, which is an informal way to transfer money outside regulated financial systems. The US administration had applied economic, informational, and diplomatic powers to disrupt the terrorists’ money flow with law enforcement agencies leading the charge. Within days after the 9/11 attacks, President Bush signed an Executive Order expanding the reach of the efforts against terrorist financing. President ordered a freeze of financial assets of suspected Islamic terrorist groups and individuals. Moreover, President authorized the Treasury Department to impose sanctions on any bank that provided financial services to known terrorist groups.

Do you think that the world would have been a different one sans 9/11? Do you think that your career and job would have taken a better dimension sans 9/11?

Posted by jijo@dartconsulting.co.in for DART Consulting.

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