Terror's Economics; New Political Divisions May Alter Global Financial Alliances
Samuelson, Robert, Newsweek
Byline: Robert Samuelson
This is an age of glaring contradictions. It's hard to ignore the great disconnect between the rise of terrorism and the relentless advance of the world economy. After September 11, the reasonable fear was that terrorism and its nasty side effects--more anxiety, uncertainty, security checks and higher costs for moving people and cargo--might cripple economic growth and frustrate the spread of globalization. It hasn't happened. Not yet, anyway.
To be sure, terrorism has exacted some
steep costs. Airlines and tourism suffered after September 11; that could happen again. Spending for the war in Iraq was vastly underestimated. But the …
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Article title: Terror's Economics; New Political Divisions May Alter Global Financial Alliances. Contributors: Samuelson, Robert - Author. Magazine title: Newsweek. Publication date: August 21, 2006. Page number: 57. © 2009 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. COPYRIGHT 2006 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.