The Morning Brief
The Economics of Terror
Nov 29, 2024
Join Thomas Morgan, Chief Research Officer at the Institute for Economics & Peace, and Abhinav Pandya, counterterrorism expert and Founder of Usanas Foundation, as they dive into the grim economics of terrorism. They explore how terrorist organizations are funded, with a striking focus on the role of cryptocurrencies. The conversation delves into rising terrorist-related deaths and the staggering costs nations face after attacks. Plus, they examine the evolving landscape of global terrorism and its implications for security.
26:19
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Quick takeaways
- The economic impact of terrorism is profound, costing nations billions in losses, heightened security expenditures, and damaged international reputations.
- Terror organizations are increasingly funded through complex networks involving foreign donations, organized crime, and cryptocurrencies, complicating counterterrorism efforts.
Deep dives
Impact of the Mumbai Terror Attacks
The Mumbai terror attacks on November 26, 2008, were catastrophic, resulting in the loss of 166 lives and leaving over 300 injured as 10 terrorists unleashed violence across key locations in the city. The attacks affected not only individual victims but also caused extensive damage to vital infrastructure, tourism, and foreign investments in India. The economic cost of terrorism is significant, with estimates suggesting losses of up to $26.4 billion in 2019 alone, peaking at $115.8 billion in previous years. Such incidents lead to increased security expenditures and can tarnish a nation's image on the global stage, further complicating recovery efforts after an attack.
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