How terrorism affect our economy?

How terrorism affect our economy Terrorism and terrorist activates are never intended to target an economy directly , instead it is designed to scare people who overwhelmed by there trepidation destroy there own economy The pliant economy of United States was misjudged in contrast with the September 11 terrorist attacks . Despite an estimated 120 billion of damage and a great deal of anxiety , one year following the 9 /11 attacks considerable recovery was recorded in U .S economy A disagreement between the Economists world wide has been shaping up over the affects

of terrorism on the economy of USA , many feel that because acts of terrorism are usually aimed towards small portions of the stock of capital of a country so effect on economic activity are not very large (Enders and Sandler 2006 . On the other hand , consciences of terrorism on the economy under pragmatic estimation suggest large and long term affects (Terrorism and the World Economy 40 If we review the federal budgets between FY 1998 and FY 2001 48 .3 billion where available in surplus . Attacks of September 11 originated a blow to the economy of Manhattan , but not to that of Boston or Chicago Terrorism creates a pessimistic affect on industries like air travel hotels and insurance at large , but if we review economy 's overall performance , investment and demand shifted to other industries-especially when Federal Reserve eased credit in to calm post-Sept . 11 markets The immediate and the fore most impact that originate due to terrorism is the development of Paranoia attitude towards the economy through restrictive air travel and raising uncertainty , economy is drifting into a phase of recession . U .S economy has been diminishing even further after U .S invasion in Afghanistan and Iraq . Another way terrorism affected our economy is the lift in oil price which proved to be an economic jolt over the American nation who is now linking this oil situation with the upcoming elections and political agenda of American presidential candidates . The most direct damage that terrorism brought to our financial system is the deficit of U .S . government budget , which was a record of 413 billion dollars in 2004 . A slight drop of 198 billion in deficit is being predicted by CBO for FY 2009 which is expected to increase moderately by 2010 . If we analyze the reports released by CBO we will realize the shocking increase in the expenditure of war on terrorism over the last few years , federal finances for the department of home land security , and ever mounting cost of government beneficial social sachems such as medical health care and social security has halted economical development . Economists are predicting an inevitable increase in

red ink taxation this is resulting in an increasing cost of housing and other basic amenities which is ultimately decreasing the consumption power of an American (CBO Terrorism creates a general sense of insecurity , this brings a huge expanse on U .S federal budget in shape of home land security dept Congressional Budget...

The definition of terrorism has proved controversial. Various legal systems and government agencies use different definitions of terrorism in their national legislation. Moreover, the international community has been slow to formulate a universally agreed, legally binding definition of this crime. These difficulties arise from the fact that the term "terrorism" is politically and emotionally charged.[18] In this regard, Angus Martyn, briefing the Australian Parliament, stated that "The international community has never succeeded in developing an accepted comprehensive definition of terrorism. During the 1970s and 1980s, the United Nations attempts to define the term foundered mainly due to differences of opinion between various members about the use of violence in the context of conflicts over national liberation and selfdetermination."[1] These divergences have made it impossible for the United Nations to conclude a Comprehensive Convention on International Terrorism that incorporates a single, all-encompassing, legally binding, criminal law definition terrorism.[19] Nonetheless, the international community has adopted a series of sectoral conventions that define and criminalize various types of terrorist activities. Moreover, since 1994, the United Nations General Assembly has repeatedly condemned terrorist acts using the following political description of terrorism: "Criminal acts intended or calculated to provoke a state of terror in the general public, a group of persons or particular persons for political purposes are in any circumstance unjustifiable, whatever the considerations of a political, philosophical, ideological, racial, ethnic, religious or any other nature that may be invoked to justify them."[20]

HOW TO SOLVE THE PROBLEM OF TERRORISM

The big question on everyones mind is how to solve the problem of terrorism. On the one hand, the authorities are trying to crush the terror menace through legal action; and on the other hand, reformers are trying to curb it by engaging in condemnation. However, both of these methods are, apparently, proving to be ineffective. Then what is the solution? The present problem of terrorism is based on an ideology and that cannot be countered or killed through legal action or by mere condemnation. We have to develop a counter-ideology to overcome it. Violence begins from the mind. It must, therefore, be uprooted from the mind itself. This goes directly to the root cause of terrorism. Therefore, in order to eliminate this root cause we need to initiate our efforts by beginning from the right starting point. And this is the reengineering of minds of individuals by taking them away from the culture of violence and bringing them closer to the culture of peace.

Lets look at two parallel examples from history. One pertains to the American campaign against communist Russia and the other refers to the American campaign against Saddam-led Iraq. Both communist Russia and Iraq were declared enemies of the US, but while America was successful in curbing the menace of communist Russia, it failed to cope with Iraq. The reason was that America met the Russian challenge at an ideological level, while it opted for military action against Iraq. Terrorism will persist in one form or another until the ideology of violence is countered with another ideology based on peace. But let us first understand the ideology of violence that is resulting in terrorism. This ideology is that Islam is a political system and that it is the duty of all Muslims to establish the political rule of Islam in the world. This kind of thinking was not prevalent during the time of Prophet Muhammad or his early companions. It is a later invention. This was developed over the last few centuries by a handful of people and has become widespread in the Muslim world today. This has led to the present-day violence. A large number of Muslims, especially many among the youth, have become obsessed with this ideology and are trying to establish the political rule of Islam, thinking it to be their ticket to paradise. Having failed to achieve this objective of establishing Islamic rule by peaceful methods, they have started resorting to suicide bombing. The idea being that if we cannot eliminate non-Islamic rule, then let us at least destabilise it and pave the way for Islamic rule. After studying Islam by making reference to its original sources the Quran and Hadith one can say with certainty that the political interpretation of Islam is an innovation and the real Islam, as followed by Prophet Muhammad(Sallalaye wa alaye wa Sallam) and his early followers, is based upon peace, compassion and tolerance. People consider peace as the greatest good in the world. However, peace does not prevail in the world today. This is because people the world over are acting intolerantly and indulging in acts of violence, saying, "Give us justice and peace will ensue". But when people, ostensibly seeking justice, stoop to violence, peace can never prevail. Peace is always desirable for its own sake, and every other desirable state comes after peace, not along with it. So, the maxim to follow, when peace is the desired state, is: "Ignore the problems, and avail of the opportunities." Once people become tolerant and obtain peace for its own sake, what that actually does is open up opportunities. It creates favourable conditions which enable people to strive for their ideals, eventually attaining justice and other constructive ends. This happens due to the law of nature. When the individual refrains from making a controversial matter into one of prestige, this gives rise to serious thinking. This non-emotional thinking helps him to understand that if he were to walk out of the point of controversy he would find all other paths open to him. This ideology of peace can counter the ideology of violence and it is based on the original sources of Islam. Prophet Muhammad(SAWS) provides a very clear historical example of this in his method of negotiating the Hudaybiyya peace treaty. On this occasion he brought matters to a successful conclusion by unilaterally accepting all the conditions of his opponents. In this peace treaty, the Prophet had not apparently received justice or his rights. But what was in effect a 10year no-war pact gave the Prophet an opportunity to work uninterruptedly on a constructive

programme which would otherwise have been impossible. By means of this peaceful nonpolitical programme, the Prophet and his companions were able to consolidate themselves so thoroughly that they had no need to wage war; they were able to take control of Mecca peacefully. From this example of the Prophet, we can understand that there is no room for violence in Islam. The ideology of Islam banishes the notion that there can be anything acceptable about terrorism. Islam is a completely peaceful religion and the Islamic method is a peaceful method. By following the ideology of peace, each individuals mind can be re-engineered away from the culture of violence and closer to the culture of peace,Insha Allah. TOP ARTICLE | A Religion Of Peace 12 Dec 2008, 0000 hrs IST, Maulana Wahiduddin Khan . The writer is a Delhi-based religious scholar. Compiled, edited and adapted by Khalid Latif
ADVERTISE MENT

Rate this:

8 Votes