Terror's long-term cost to the economy
http://news.independent.co.uk/business/comment/article298270.ece
By Stephen King
Published: 11 July 2005
People have all sorts of views on globalisation but there can be no
doubt that, last week, we saw a series of atrocities carried out
against one, particularly enlightened, version of globalisation.
London, like other major international cities, is an ethnic and
cultural melting pot, a place that derives much of its vibrancy from
its cosmopolitan nature. The roll-call of the dead and injured
demonstrates, in its all too grim way, that London is a magnet for
people from all over the world, a place where opportunity abounds. Last
week's atrocities, like those in New York four years ago, were
particularly repugnant for their lack of discrimination: not targeted
attacks, but attacks on humanity in its widest sense.
As an economist, there's little to be said of any relevance in the
immediate aftermath of these attacks. There's always the danger of some
kind of financial fallout but, by the end of last week, British markets
had shown the "stiff upper lip" resolve that's become almost a
caricature of our behaviour.
Terror
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Stephen King HSBC
http://groups-beta.google.com/group/alt.atheism/msg/e0909c78f4570080
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