The private sector is the part of a country's economic system that is run by individuals and companies, rather than the government. Most private sector organizations are run with the intention of making profit. The segment of the economy under control of the government is known as the public sector.
The impact which the terrorist attacks of September 11, 2001 have on the process of devolution was that, the initial shocks caused the global stock markets to drop sharply.
The terrorist attacks of September 11, 2001 impacted the process of devolution in a huge manner. It is estimated that these terrorist attacks themselves resulted in approximately $40 billion in insurance losses, thus, making it one of the largest insured events ever.
These terrorist attacks of September 11, 2001 caused major economic effects, as many people became scared and did not trust the stock market which caused the global stock markets price to drop sharply.
These terrorist attacks also caused a lot of damage of both life and property. The attacks also resulted in the substantial long term health consequences, and in addition to this, at least $10 billion were spent in infrastructure and property damage to recover the loss.
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Answer:
Too much authority and power in the hands of state governments
