An Economic 9/11?

Listen to this 'Talk of the Nation' topic

The signs are all there that we're in the middle of a serious financial crisis... a $700 billion federal bailout, plunges on Wall Street, growing unemployment. This is obviously big, but how big? Bigger than 9/11, argues David Rothkopf:

By all the metrics available to us, then, the current financial crisis easily exceeds the post-9/11 war on terror in economic terms. Human costs are harder to measure, of course, and the tolls of both events have been devastating. But the financial crisis will certainly touch many more people in many more countries than did 9/11. And even greater crises may loom ahead, thanks to our unwitting creation of a financial Frankenstein's monster of unregulated, risk-laden, global derivatives markets.

What do you think... Are the long-term effects of the financial mess going to prove more significant than the attacks on 9/11?

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.