DailyFinance – “Then and Now: How the Economy Has Changed Since 9/11”

Think back to the evening of Sept. 10, 2001: It’s been 10 years, and in some ways, it’s as if nothing has changed. That Monday night, the United States was coming off a recession stemming from a bursting bubble, consumer confidence was declining, and predatory lending was in the headlines.

But as we all know, everything did change the next morning, in ways that we are still working to understand.

Over the last decade, consumer confidence and housing prices have gone through a dramatic rise and fall, and two massively expensive wars in Iraq and Afghanistan were initiated. 

AOL’s DailyFinance asked economists including Lubin’s Niso Abuaf, to share their thoughts on two questions: What were the most significant economic shifts between 2001 and 2011; and if that decade had a headline, what would it be. 

The Great Disappointment in Real Wage Growth and European Integration

Niso Abuaf, professor of finance, Pace University

“Technology [the innovation of the ’90s] bore fruit and the productivity gains we have experienced in technology, media and telecom sectors have been tremendous with the iPhone, iPad, Blackberry and virtual workplace. But has that accrued to the typical U.S. worker or European worker?  Unfortunately, those productivity gains have not translated into real wage gains and it has been a disappointment. Wages have not kept up with productivity gains. Another disappointment is that Europe’s lack of political union and its response to crisis in [the PIIGS nations] has not been as decisive and quick a response as the U.S. response during the Great Contraction.”

MEDIA ADVISORY: NYC Press Center for Journalists Covering 10th Anniversary of Terrorist Attacks Announced by Pace and National September 11 Memorial & Museum at the World Trade Center

Pace’s Multipurpose Room will be transformed into a newsroom for reporters worldwide covering the 10th anniversary of 9/11.

WHEN: Saturday, September 10, 10am – 8pm; Sunday, September 11, 7am – 7pm

WHERE: Pace University (east of City Hall; blocks from the World Trade Center site).  Use Pace’s Spruce Street courtyard side entrance for Multipurpose Room.  Directions to Pace’s NY Campus

WHAT: High-speed wireless Internet access, workspace, pool broadcast on large-screen monitors, full-service cafeteria, snack shop and peer camaraderie. 

ENTRY REQUIREMENTS: Space granted on a first-come, first-served basis to those showing a New York City press badge or media organization credentials.


  • We cannot help with parking. Call 212-NEW-YORK (639-9675) for more information, or visit www.nyc.gov/apps/311.
  • Pace’s Internet portal is robust and highly reliable, but due to construction in the neighborhood, we cannot absolutely 100% guarantee uninterrupted service.
  • To plan your trip to the 9/11 Memorial, use the online reservation system at www.911memorial.org

9/11 ON CAMPUS:  Highlights include: “Witness to Tragedy and Recovery”: Comprehensive exhibition of photos of the terrorist attack and subsequent recovery, a collaboration between Pace and the National Press Photographers Association; student candlelight memorial vigil on Sunday night (time TBD); interviews with Pace faculty experts on 9/11 topics

9/11 MEMORIAL MEDIA CONTACTS: Michael Frazier: office 212-312-8800; cell 347-415-0219; mfrazier@911memorial.org;  Sarah Lippman: office 212-312-8800, cell 646-703-4503, slippman@911memorial.org

PACE MEDIA CONTACTS: Christopher T. Cory: office: 212-346-1117; cell 917-608-8164; ccory@pace.edu;  Samuella Becker: office: 212-346-1637, cell 917-279-5419; sbecker2@pace.edu

American Medical News: “Doctors confront burst of mental health problems after disasters”

Disaster planning tends to focus on responding to the immediate physical needs and injuries of victims. But experts such as Pace’s Dr. Richard Shadick say more must be done to address the mental health impact in the aftermath of tornadoes, earthquakes, wildfires, floods, hurricanes and terrorism attacks.

In the first 24 hours, disaster survivors such as those in Joplin, Mo., often exhibit confusion, despair, disbelief and disorientation.  The emotional distress often is compounded by concerns about safety and finding shelter.

But mental health professionals urge doctors to be cautious about prescribing medication to ease symptoms. They say drugs sometimes can hinder a person’s ability to cope properly with a traumatic event.

“The goal is to help an individual make sense of their world being overturned. If one is overmedicated, that makes it much more difficult to do the psychological work of moving beyond the trauma,” said Richard Shadick, PhD, director of the Pace University Counseling Center in New York City, in a featured article in this week’s American Medical News.

In cases of terrorism — such as the Sept. 11, 2001, attacks — fear is a common response among victims.  Some survivors develop acute stress disorder shortly after a traumatic incident, Shadick said. The condition can last up to a month and is characterized by anxiety, disorientation, and difficulty sleeping or eating.

Forbes: “The Five Stages Of Public Grieving”

In the wake of a national tragedy like the Tucson shooting last week, an entire country mourns.

“When there is a national tragedy, the emotions of dealing with it can often set off or remind people of personal tragedies, which can lead to depression,” says Richard Shadick, Ph.D., director of Pace University’s Counseling Center in New York City. “Public mourning of a national event can help people to deal with the personal feelings, but can also bring depressive emotions to the surface.”

Grieving through a national tragedy can be incredibly complex. Experts say the public deals with survivor’s guilt immediately following a trauma, and these feelings can be exacerbated by 24-7 news coverage. In the aftermath of the violent attack on Rep. Gabrielle Giffords in Tucson, Ariz., which left six people dead, including a 9-year-old girl, the country is mourning collectively as we try to pick up the pieces.

Here’s how to work your way through the Five Stages of Grief — Denial, Anger, Bargaining, Depression and Acceptance.

Book Launch in Rememberance of 9/11

“On the Ground after September 11: Mental Health Responses and Practical Knowledge Gained” will be launched at an event held at Pace University’s Michael Schimmel Center for the Arts on Sep 9.

Rosemary Mercedes, Pace University
212-346-1637, Cell: 914-424-3845

Margaret Tatich, The Haworth Press
607-722-5857, ext. 321



WHO: The editors and authors of On the Ground after September 11: Mental Health Responses and Practical Knowledge Gained being published by The Haworth Press – Yael Danieli, PhD, Chief Editor

WHEN: Friday, September 9, 2005
1 – 5 p.m.

WHERE: Michael Schimmel Center for the Arts at Pace University’s downtown campus, Spruce St. between Park Row and Gold Sts (across from City Hall)

The program will open with a brief commemorative performance by acclaimed violinist Timothy Fain. Authors selected from the books 108 contributors will briefly present distilled lessons they have learned during the four years sine 9/11. The contributors provide a range of perspectives – from policymakers to counselors, social workers and students. An open dialogue among all present will follow. Guest speakers include:

• Ambassador Javier Ruperez, Executive Director of the United Nations Counter Terrorism Directorate
• Congresswoman Carolyn Maloney
• Dr. Lloyd I. Sederer, New York City Executive Deputy Commissioner for Mental Hygiene
• Ken Curtin, Federal Emergency Management Agency Voluntary Agency Liaison
• Mary Fetchet, Mother of Brad Fetchet, 24, who dies in Tower 2 of the World Trade Center, and Founding Director and President of Voices of September 11th

After 9/11 Pace University played a central role in counseling not just for the Pace University community but for emergency respondents and many people in Lower Manhattan. Its Counseling Center provided training and research to people working with traumatized groups. Pace’s Center for Downtown New York (CDNY) has been a catalyst for numerous conferences on dealing with terrorism and rebuilding Lower Manhattan.

The event is Co Sponsored by the Pace University Counseling Center.

The event is open to media with press credentials, members of the Pace University community and individuals who RSVP in advance to YAELD@aol.com or (212)737-8524. Media admission by press card (strictly enforced).