From the invasion of France in 1940, to the Korean air bombings in 1987, to one of the most recent and publicized incidents dubbed the 9-11 attack, terrorism has plagued our world nations for decades. As defined by the League of Nations in 1937, terrorism is "all criminal acts directed against a State intended or calculated to create a state of terror in the minds of particular persons or persons in the general public." James M. Poland, a professor of criminal justice at California State University, gives a slightly different definition. He states that "terrorism is the premeditated, deliberate, systematic murder, mayhem, and threatening of the innocent to create fear and intimidation in order to gain a political or tactical advantage, usually to influence an audience."
The perception of terrorism is of a subjective nature: a man defending his nation may be seen as a terrorist to some, but a hero to others. However, no matter the perception, terrorism has an effect on the activities of businesses and profoundly impacts the world's economy: many lose their lives; others lose their homes and source of income as a result of a terrorist attacks. Terrorism forces the reallocation of scarce resources of an economy in an effort to meet the dire needs of its citizens. Small islands such as Grenada would eventually experience higher cost of living as a result of attacks elsewhere in the world.
In the research paper, we shall be focusing on the effects of terrorism on the business activities of countries as a whole, as well as on organizations and individuals. Our research aims to show mainly the negative effects of terrorism in large nations such as United States, and then trickle down to its effects on the Grenadian economy and the Grenadian citizen.
Effects on Targeted Nations
The costs of terrorism are grave. The terrorist attacks on Pearl Harbour, the World Trade Centre, the Pentagon,