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The Economic Consequences of September 11th
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Özkan Bugra Telemez 20300347 IR Dr.Gülriz Büken 102.07 THE ECONOMIC CONSEQUENCES OF SEPTEMBER 11TH On September 11th 2001 two aircraft were hijacked by terrorists and flown into the towers of the World Trade Center, New York. The towers collapsed and thousands of people were killed. Additional to the tragic loss of life, economic consequences were felt by the micro-economy of Lower Manhattan New York, the US economy, and the global economy as a whole. "More than 700 businesses located in the World Trade Center complex were either destroyed, or sustained extensive damage"(Economic Impact of the September 11th Attack on New York) causing the loss of around 30% of Lower Manhattan's office space. "Industries occupying this space, mainly financial services and retail, were directly affected." (Fiscal Policy Institute, Sept 28 2001, Economic Impact of the September 11 World Trade Center Attack) As a result of the attack, "from September 11th through to the end of...
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