Sunday, November 29, 2015
the victory of osama bin ladin
The economic impact of 9-11 can be measured in a variety of ways. The dollar cost associated with the attacks and their subsequent effect on airline travel are only one part of the account. The more significant long-term cost are the extra hours spent waiting in lines for the security theater. Over the past decade and half these hours have added up to centuries of lost productive time. The social benefit of waiting in line with strangers at an airport is thoroughly negative. Security improvements inside the aircraft--hardened cockpit doors--have probably discouraged would-be hijackers to a greater extent than the conveyor carts full of shoes and cellphones.