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Various types of terrorist attacks and mass shootings pose a severe threat not only to people’s lives but to the functioning of the entire country. Aware of the danger to their lives, people often succumb to panic and stop their old ways of living. In this case, it becomes more difficult to predict their behavior and, therefore, more difficult to structure the way the economy works. It is important to stress that the impact of shootings is reflected in different areas of life, such as police and hospital staff, the law, and more. By investigating this question, one can understand why mass shootings significantly impact the everyday economy of the United States.
Fear makes people wary of strangers and try not to make new contacts. In the everyday economy, this fact significantly affects the employment situation. According to Brodeur and Yousaf (2019), “on average, employment per capita decreases by around 1% immediately after a successful shooting” (p. 19). In addition, mass shooting affects business establishments which decrease by 0.6% immediately after an accident (Brodeur & Yousaf, 2019).
In everyday economics, the effect is on people’s psychological well-being, which reduces economic performance. In addition, the costs of increasing the number of police officers and hospital staff are high. Improved equipment, increased patrols, and other factors directly affect the daily economy. The focus of financial allocation shifts to funding goals aimed at minimizing the effects of mass shootings and preventing a possible series of such accidents.
The sphere of laws should be highlighted, answering the question of the essay. The competent government reaction and the amendment of relevant regulations related to the possibility of acquiring weapons are critical factors in preventing mass shootings in the future (Brodeur & Yousaf, 2019). As Luca et al. (2020) state, “the federal government has put some restrictions on firearm commerce, the possession of guns by potentially dangerous individuals, and ownership of certain types of firearms and ammunition” (p. 2). These new gun control laws reduce the use of ammunition among people. However, it is essential to understand that each state in the United States has its features in laws. In 2022 The biggest gun supplier in the US is Smith & Wesson (Flynn, 2022). Her income from arms sales is over $200 million for Remington Outdoor (Flynn, 2022). It is important to note that the number of gun suppliers is growing, as is the competition between them.
References
Brodeur, A., & Yousaf, H. (2019). The economics of mass shootings. IZA – Institute of Labor Economics.
Flynn, J. (2022). The 13 largest gun brands in the world. Zippia. Web.
Luca, M., Malhotra, D., & Poliquin, C. (2020). The impact of mass shootings on gun policy. Journal of Public Economics, vol. 181, pp. 1-20. Web.
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