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Macro econoics - Essay Example

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The plans for rebuilding the famous World Trade Center, that got destroyed during the 9/11 attacks, have significant effect on landowners, small business owners, labor unions, and former residents of World Trade Center. Plans to rebuild the World Trade Center will have positive…
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Macro econoics
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Inserts His/her Inserts Inserts Grade (28, 09, Rebuilding of World Trade Center The plans for rebuilding the famous World Trade Center, that got destroyed during the 9/11 attacks, have significant effect on landowners, small business owners, labor unions, and former residents of World Trade Center. Plans to rebuild the World Trade Center will have positive consequences for all parties mentioned above as it will provide employment to the people (Craig & Samson, 1).
Small business owners will like the plans for rebuilding World Trade Center because this will increase the overall business activity in the city, and will in turn benefit them. Local small business owners will also be happy because it will attract tourists. These tourists will play a significant role in increasing the sales of small business owners and therefore they will appreciate the plans for rebuilding World Trade Center.
Rich landowners will also benefit from the rebuilding of World Trade Center because it will increase the property prices of the whole area. Especially land which is near the World Trade Center will become extremely valuable and therefore rich landowners will benefit from World Trade Center. Property prices of commercial areas in the region will also go up because many businesses will end up in the region. World Trade Center was a business hub which was why it was so famous and many businesses operated in the region. This makes property extremely attractive from the commercial point of view and therefore rich landowners will benefit greatly from the rebuilding of World Trade Center.
Labor unions will also be happy because rebuilding of World Trade Center will generate employment. The building of World Trade Center will require services of all kinds of labor and therefore employment opportunities will be immense. Also after the rebuilding of World Trade Center hiring will increase in the region which will again benefit the labor unions significantly. The current situation employment in the country is not very good and therefore plans for rebuilding of World Trade Center will be taken with great joy by the labor unions of the region.
Former residents would also like the plans for rebuilding of World Trade Center because it will allow them to restart their operations. Former residents will also hope that they will get office space in the new World Trade Center on concessional rates. Also it is important for a business to locate itself in a geographical location that benefits its business interests. Former residents had established their business in the World Trade Center and therefore would like to continue their operations from there again. Customers and suppliers would already know them from the past and therefore rebuilding of the World Trade Center might benefit them in great ways.
It is vital to understand the microeconomic consequences of rebuilding the World Trade Center, particularly in the world we live in which is blotted by tough financial conditions. Rebuilding of World Trade Center will generate employment and therefore it will be appreciated by local small businesses, rich land owners, labor unions, and former residents of World Trade Center that the Center is built again.
Works Cited Page
Craig, Victoria, & Samson, Adam. WTC is Sprouting but Who’s Moving In? Fox Business, 2012. Web. http://www.foxbusiness.com/industries/2012/09/11/wtc-is-sprouting-but-whos-moving-in/ Read More
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