With the 10th anniversary of 9/11 just days away I found myself drawn to this article. The article is a compilation of first hand accounts from different firms about how 9/11 changed the way we do business. The most interesting parts of the article for me were places where 9/11 had positive benefits to business. For instance, increased regulations for inspecting containers coming into the country made exporting goods to America more costly, and subsequently benefiting domestic production.Entrepreneurship also was affected, as the tragedy spurred more and more people on to chase their dreams, sparking innovation.
The timing of this anniversary is quite unique. America is still recovering from a recession, and political divisiveness has severely impeded recovery. President Obama's speech Thursday night to congress stressed the need for unity among politicians now more than ever as he unveiled his new Jobs Act. The speech has put pressure on Congress to get something done, and with the added drama of 9/11, it will be interesting to see where this Jobs Act goes.
This is quite an interesting topic. I have, before, thought of all the damage the event of 9/11 had caused business but never thought of the possibilities of benefits. To add to your list of benefits I also think that security related companies would have had a boost in income and more jobs may have been created in that area. For instance, the increased security required in airports and similar places.
ReplyDeleteIt is somehow comforting to read this article 10 years after 911.Some of the cases talked in it are very enlightening, such as the employee assistance program, the "bring your humidity to work"effect, and the "life back to basis".
ReplyDeleteThis article tell us that, 911 has influenced a lot about economy in US, in the whole world, but in the other hand, we can also found so many aspects which were changed by 911, now are influcing the economy too.
I particularly like Rich Carrigan and Paul Jankowski’s comments on this survey. I feel that the most important characteristic for an economist is to be optimistic. We hear too many people talking about the bad effects of 9/11 on the American economy. However, this is the first time I have read some positive comments about it. It is true that a lot of local American brands who do not have too many overseas operations saw an increase in business post 9/11. Also, there was an increase in awareness about caring for the community around us in addition to the profit-making motive of corporations (now popularly known as Corporate Social Responsibility). The media should focus more on spreading around these positive notions instead of solely sticking to the bad ones to increase consumer confidence and perceptions. This will actually be very influential in getting the economy back on track sooner than we think it would take.
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