Assessing the Economic Impact of September 11

Corporate executives and market watchers have cited 'the post-September 11 climate' as a reason for layoffs, poor corporate earnings and other financial setbacks. But have the attacks and their aftermath had any long-term effect on the U.S. economy? Not according to Gary Becker. Becker, professor of economics at the University of Chicago and a 1992 Nobel laureate, says that the attacks may have had a profound effect on the American psyche, but their effect on gross domestic product and other economic indicators was negligible. Copyright 2002 The University of Chicago.