Terrorism is the use of fear to cause havoc in the political scene and consequently bring about political transformation. Terrorist are motivated by the belief that if any change has to be accomplished then it can only be accomplished by instilling fear and confusion among the target population. Over the years many lives have been lost in hands of terrorists, psychological and physical damage to people, property worth of billions of dollars have been damaged and so much fear has been left in the countries affected that life in these countries has been uncertain. United States is probably one of the most affected of all these countries. Terrorism has been directed to this country either directly by terrorist attacking the country our attacking its embassies or other countries’ where her citizens are. In many circumstances terrorist acts entail use of violence or threat of violence. Over time terrorist acts have taken new forms and there have been considerable changes in the ways in which terrorist express these fears.
Throughout history terrorism activities has been evolving, today due to technological and human advancement terrorist activities are taking a new trend in terms of fatality, mode, and frequency. Today a major emerging trend in terrorism is solely aimed to bring negative economic impacts. Terrorism belief by paralyzing the economy of their enemy then they will be able to take control of the country and achieve their other objectives. Economy of any country plays a major role and its impact is realized by each citizen. More than $ 5 billion dollars is budgeted every year in the United State alone to counteract terrorism. Terrorism it reduces investment tendency. At the same time the risk premium is significantly reduced: this basically means the cost of production becomes a bit expensive so that more profit is realized to counteract the marginal increase. In general investment in most sectors slows down for the simple reason that the investment cannot meet the profits within the long run.
At the same time in preparedness to counteract the terrorist attacks many organizations spend billions of dollars on security personnel, firewall, record storage, insurance and other security measures. The World Trade Center hits give the economy of Manhattan a blow, but not to Boston or Chicago. Nevertheless in Manhattan, the economic effect is intense in the business district region where the terrorists ruined practically over 30% of Class A real estate. September the 11, also saw a downfall to a bunch of industries, predominantly airlines, hotels, and insurance. Economic blow of the attacks are aimed to demoralize the standpoint of the U.S. and the global economies by restraining air transport and escalating improbability. Economists have the same opinion that the U.S. and the entire global economy is in a recession, despite the fact that how long and profound it will be is ambiguous.
Every country is in a move to obtain and access information. Information is becoming a major distinct feature that is defining nations. The more a country has access to information the more powerful the country tends to be. Terrorists have not overlooked this fact, they are ever seeking to increase their sophistication and that’s why today they have turned to utilize the information movement, improving their information technology and communications, enhancing finance and ideologies to their benefit and adopting the more advanced technologies. Some theorists ascertain that terrorism is ever becoming a “web directed” trend.’ At the same time in regard to information, the ever increasing need to be technologically informed has induced terrorist to engage and fuse in internet crimes: the major and most profound being database hacking. This has resulted to fear and authenticity of the internet and other information technology trends. As a result more organizations have channeled their resources in improving and enhancing their database systems and investing in sophisticated applications.