Abstract
Gun violence in the USA takes lives at an alarming pace. In 2020, there were 19,384 people killed by gunfire. Sixty-one per cent of all gun homicide victims were Black and 39% were Black males aged 18–34—a group that represented only 2% of the US population (U.S. Centers for Disease Control and Prevention, 2022). The threat of gun violence causes anxiety and trauma in the affected communities and motivates costly avoidance activities. It becomes difficult to retain existing businesses and attract new ones. Children exposed to gun violence develop psychological problems and perform worse in school (Sharkey, 2018). Roughly 70 residents move out for every homicide in a neighbourhood (Cook and Ludwig, 2000). Consequently, these communities further suffer from disinvestment and the associated lack of employment and retail options. A recent estimate suggests that the overall economic cost of firearm injuries in the USA is $557 billion annually, or almost 3% of the gross domestic product (Song, 2022).
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