- Title Pages
-
Part I Global Warming -
Chapter 1 Climate Change -
Chapter 2 Global Climate Change -
Chapter 3 A New Agenda for Global Warming -
Chapter 4 A Meaningful Second Commitment Period for the Kyoto Protocol -
Part II The International Economy -
Chapter 5 Divergent Views on the Coming Dollar Crisis -
Chapter 6 U.S. Offshoring -
Chapter 7 Advance Market Commitments -
Chapter 8 Should We Still Support Untrammeled International Capital Mobility? Or Are Capital Controls Less Evil Than We Once Believed? -
Part III Economics of the Iraq War -
Chapter 9 The Economic Cost of the Iraq War -
Chapter 10 The High Cost of the Iraq War -
Part IV Fiscal Policy -
Chapter 11 Sense and Nonsense About Federal Deficits and Debt -
Chapter 12 Government Deficits and the Deindustrialization of America -
Part V Social Security -
Chapter 13 Confusions About Social Security -
Chapter 14 The Many Definitions of Social Security Privatization -
Chapter 15 The Virtues of Personal Accounts for Social Security -
Chapter 16 Could Social Security Go Broke? -
Part VI Tax Reform -
Chapter 17 A Broader Perspective on the Tax Reform Debate -
Chapter 18 Tax Reform -
Chapter 19 Taxes on Investment Income Remain Too High and Lead to Multiple Distortions -
Chapter 20 Progressive Consumption Taxation as a Remedy for the U.S. Savings Shortfall -
Part VII Social Policy -
Chapter 21 Was Welfare Reform Successful? -
Chapter 22 Cutting the Safety Net One Strand at a Time -
Chapter 23 The Choose-Your-Charity Tax -
Chapter 24 Should the Government Rebuild New Orleans or Just Give Residents Checks? -
Chapter 25 Does College Still Pay? -
Chapter 26 How to Deal with Terrorism -
Part VIII The Death Penalty -
Chapter 27 The Economics of Capital Punishment -
Chapter 28 On the Economics of Capital Punishment -
Chapter 29 The Death Penalty -
Chapter 30 Reply to Donohue and Wolfers on the Death Penalty and Deterrence -
Chapter 31 Letter -
Chapter 32 Reply -
Part IX Real Estate -
Chapter 33 Long-Term Perspectives on the Current Boom in Home Prices -
Chapter 34 The Menace of an Unchecked Housing Bubble -
Chapter 35 What to Do About Fannie and Freddie? - Index
The High Cost of the Iraq War
The High Cost of the Iraq War
- Chapter:
- (p.80) Chapter 10 The High Cost of the Iraq War
- Source:
- The Economists' Voice
- Author(s):
Joseph E. Stiglitz
- Publisher:
- Columbia University Press
Shortly before the current Iraq War, Bush administration economist Larry Lindsey suggested that the costs of war might range between $100 billion and $200 billion, other officials quickly demurred. But it is now clear that Lindsey's numbers were a gross underestimate. Concerned that the Bush administration might be misleading everyone about the Iraq War's costs, the author teamed up with Linda Bilmes, a budget expert at Harvard, to examine the issue. This chapter presents their findings. Among them is that the estimated costs of war range from slightly less than a trillion dollars (conservative estimate) to more than $2 trillion (moderate estimate). Their calculations incorporated the future burden on the government's budget of additional military pensions and the impact of higher oil prices on the economy as well as the opportunity cost of government spending diverted from other areas to fighting the war. Needless to say, all of the types of costs considered have continued to rise since the estimates here were prepared.
Keywords: Iraq War, Bush administration, Larry Lindsey, costs of war, economic costs, government spending
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- Title Pages
-
Part I Global Warming -
Chapter 1 Climate Change -
Chapter 2 Global Climate Change -
Chapter 3 A New Agenda for Global Warming -
Chapter 4 A Meaningful Second Commitment Period for the Kyoto Protocol -
Part II The International Economy -
Chapter 5 Divergent Views on the Coming Dollar Crisis -
Chapter 6 U.S. Offshoring -
Chapter 7 Advance Market Commitments -
Chapter 8 Should We Still Support Untrammeled International Capital Mobility? Or Are Capital Controls Less Evil Than We Once Believed? -
Part III Economics of the Iraq War -
Chapter 9 The Economic Cost of the Iraq War -
Chapter 10 The High Cost of the Iraq War -
Part IV Fiscal Policy -
Chapter 11 Sense and Nonsense About Federal Deficits and Debt -
Chapter 12 Government Deficits and the Deindustrialization of America -
Part V Social Security -
Chapter 13 Confusions About Social Security -
Chapter 14 The Many Definitions of Social Security Privatization -
Chapter 15 The Virtues of Personal Accounts for Social Security -
Chapter 16 Could Social Security Go Broke? -
Part VI Tax Reform -
Chapter 17 A Broader Perspective on the Tax Reform Debate -
Chapter 18 Tax Reform -
Chapter 19 Taxes on Investment Income Remain Too High and Lead to Multiple Distortions -
Chapter 20 Progressive Consumption Taxation as a Remedy for the U.S. Savings Shortfall -
Part VII Social Policy -
Chapter 21 Was Welfare Reform Successful? -
Chapter 22 Cutting the Safety Net One Strand at a Time -
Chapter 23 The Choose-Your-Charity Tax -
Chapter 24 Should the Government Rebuild New Orleans or Just Give Residents Checks? -
Chapter 25 Does College Still Pay? -
Chapter 26 How to Deal with Terrorism -
Part VIII The Death Penalty -
Chapter 27 The Economics of Capital Punishment -
Chapter 28 On the Economics of Capital Punishment -
Chapter 29 The Death Penalty -
Chapter 30 Reply to Donohue and Wolfers on the Death Penalty and Deterrence -
Chapter 31 Letter -
Chapter 32 Reply -
Part IX Real Estate -
Chapter 33 Long-Term Perspectives on the Current Boom in Home Prices -
Chapter 34 The Menace of an Unchecked Housing Bubble -
Chapter 35 What to Do About Fannie and Freddie? - Index
