Economic impact of security measures
Contents
Economic impact of security measures
With the help of security measures it is possible to eliminate the risk of a terrorist or criminal event, or at least reduce the risk. Security measures, however, also generate economic impact, here referred to as the economic impact of security measures. This includes the costs of securing a specific urban object, but also the costs and benefits regarding the secondary impact of security measures.
Description
Security measures intend to increase the level of security, lowering the negative socioeconomic impact of crime and terrorism. However, security measures also require time and money by private agents, companies/developers and the public authorities, exacting economic cost/impact. The costs of security measure contain the relatively straightforward direct expenditures on capital equipment and operational costs (temporary and permanent), and in addition generate various types of secondary effects.
Whether these primary and secondary costs are making sense from an economic point of view, depends on many factors, and can be answered by two distinct sets of questions:
- Are the envisioned security measures cost effective from a socioeconomic point of view, or are there better alternatives?
- Which specific agents (individuals, companies, sectors, authorities) are affected by the security measures and to which extend? How do the envisioned measures adjust the behavior of these agents, and of course of the criminals/terrorists?
Economic tools such as the social cost-benefit analysis (first question) and economic impact study (second question) can help the decision makers to answer these questions and to prevent wasteful expenditures on security (of course in collaboration with insights from criminology, sociology, etc.).
Types of impact of security measures
Although largely similar, there are differences in the economic effects of (see also clickable map below):
- economic effects of anti-crime security measures
- economic effects of anti-terrorism security measures
Related subjects
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