The 3 Trillion Dollar War
Nobel prize winning economist Joseph Stiglitz has come out with a book claiming that the Iraq War will eventually cost $3 trillion. Here’s a criticism of the work centering on Stiglitz’s methods.
Stiglitz is a noted critic of globalization. Here’s a link to an op-ed piece in the Singapore Straits Times, and an interesting quote:
Putting one’s head in the sand and pretending everyone will benefit from globalisation is foolish. The problem with globalisation today is precisely that a few may benefit and a majority may be worse off, unless government takes an active role in managing and shaping it. This is the most important lesson of the debate over outsourcing.
I don’t think he was right about globalization – if you accept his “may benefit” as “will benefit” – and I don’t think he was right about the cost of the war due to questionable assumptions and abuse of statistics.
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