The Cost of Terror

crawfordWall Street Journal “The Numbers Guy Blog”
Neta Crawford, College of Arts & Sciences

My print column examines why it is so hard to estimate the economic impact of terrorist attacks, including the bombing of the Boston marathon and follow-up crimes by the bombing suspects earlier this month; and the continued controversy over the cost from the Sept. 11, 2001, terrorist attacks…

Expert quote:

“In general, ‘spin-off’ effects tend to be less efficiently produced than if someone had directly invested in acquiring that knowledge. On the other hand, would the investment have been made absent the push of an attack or a response to it? I think here of the tremendous advances in trauma treatment and prosthetic devices.”

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