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Violence Cost World Economy $8.1 Trillion: Research

The lack of world peace affects the economy by trapping productivity and removing vital resources, according to an international research institute which also put the cost of global violence at $8.1 trillion last year.

Steve Killelea, founder and executive chairman at the Institute of Economics and Peace told CNBC that by channelling resources into controlling violence and away from other resources, economic productivity is limited.

“If you can improve the peace you can move these resources into other areas that then unleashes trapped productivity, which improves the economy,” Killelea said.

Continue @: http://www.cnbc.com/id/43164175

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