Saturday, June 8, 2013

Boston Manhunt Lockdown Hurt Boston’s Economy

Ever wonder if the "security community" is a "learning community?"

How Badly Did Friday’s Manhunt Lockdown Hurt Boston’s Economy? | "Another big factor making up the economic effects of terrorism is the diversion of resources. Barth estimates that from 1976 to 2007, the U.S. government and U.S. firms spent $7.3 trillion defending the Persian Gulf from terrorism and other dangers. Absent terrorism, that money could have been productively spent elsewhere. Measures taken, especially since 9/11, to protect us from terrorism also slow down the economy, Barth says. Travellers must spend more time waiting in security lines in the airport; resources must be spent screening packages; and federal and local governments must divert more of their resources towards security. . . ." (read more at link above)

Of course, if you are a government bureaucrat, what do you care about the cost to the economy (and loss of jobs) caused by over-reaction of security/law enforcement agencies?

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