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Three Trillion Dollar War (08 Edition)

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Synopses & Reviews

Please note that used books may not include additional media (study guides, CDs, DVDs, solutions manuals, etc.) as described in the publisher comments.

Publisher Comments:

Apart from its tragic human toll, the Iraq War will be staggeringly expensive in financial terms. This sobering study by Nobel Prize winner Joseph E. Stiglitz and Harvard professor Linda J. Bilmes casts a spotlight on expense items that have been hidden from the U.S. taxpayer, including not only big-ticket items like replacing military equipment (being used up at six times the peacetime rate) but also the cost of caring for thousands of wounded veterans--for the rest of their lives. Shifting to a global focus, the authors investigate the cost in lives and economic damage within Iraq and the region. Finally, with the chilling precision of an actuary, the authors measure what the U.S. taxpayer's money would have produced if instead it had been invested in the further growth of the U.S. economy. Written in language as simple as the details are disturbing, this book will forever change the way we think about the war.

Review:

"Readers may be surprised to learn just how difficult it was for Nobel Prize-winning economist Stiglitz and Kennedy School of Government professor Bilmes to dig up the actual and projected costs of the Iraq War for this thorough piece of accounting. Using 'emergency' funds to pay for most of the war, the authors show that the White House has kept even Congress and the Comptroller General from getting a clear idea on the war's true costs. Other expenses are simply overlooked, one of the largest of which is the $600 billion going toward current and future health care for veterans. These numbers reveal stark truths: improvements in battlefield medicine have prevented many deaths, but seven soldiers are injured for every one that dies (in WWII, this ratio was 1.6 to one). Figuring in macroeconomic costs and interest-the war has been funded with much borrowed money-the cost rises to $4.5 trillion; add Afghanistan, and the bill tops $7 trillion. This shocking expose, capped with 18 proposals for reform, is a must-read for anyone who wants to understand how the war was financed, as well as what it means for troops on the ground and the nation's future." Publishers Weekly (Starred Review) (Copyright Reed Business Information, Inc.)

Review:

"When congressional Democrats called a hearing last month to explore the costs of the Iraq war, their star witness was not some number-crunching Pentagon planner or a besieged administration budget official. It was Joseph E. Stiglitz, the Nobel Prize-winning Columbia University economist who is giving the White House heartburn with his forceful argument that the true price of the Iraq conflict will... Washington Post Book Review (read the entire Washington Post review)

Book News Annotation:

When Larry Lindsey, then head of the National Economic Council, estimated in 2002 that the looming war on Iraq might cost as much as $200 billion, his numbers were dismissed as "baloney" by Secretary of Defense Rumsfeld, who suggested that the war would cost as little as $50-$60 billion. Lindsey was in fact off by a far margin, according to Stiglitz (a Nobel Laureate in economics and chief economist for the World Bank) and Bilmes (Kennedy School of Government, Harvard U.), but contra Rumsfeld, Lindsey's numbers were far too low. Using what they say are conservative assumptions they estimate the eventual total costs of the war as more than $3 trillion, 50 times the number suggested by Rumsfeld. They arrive at this estimate by taking into account total relevant appropriations/expenditures to date for military operations, "operational expenditures" and savings hidden elsewhere in the defense budget, inflation and the "time value" of money, future direct and hidden operational expenditures, future and current costs of disability and health care for returning veterans, future costs of restoring the military to prewar strength, budgetary costs to other parts of government, interest on US debt attributable to the war, opportunity costs to the economy, and macroeconomic impact from higher oil prices and larger deficits. In addition to explaining how they arrived at their estimate, they also issue a call for withdrawal from Iraq and recommend reforms for properly understanding and dealing with the financial costs of future wars. Annotation ©2008 Book News, Inc., Portland, OR (booknews.com)

Synopsis:

The true cost of the Iraq War is $3 trillion--and counting--rather than the $50 billion projected by the White House.

Synopsis:

"This is a catalog [of costs] the Bush team never looked at. It's a catalog that they still don't want you to see."'"James Galbraith

Synopsis:

America has already spent close to a trillion dollars on the wars in Iraq and Afghanistan, but there are hundreds of billions of bills still due'"including staggering costs to take care of the thousands of injured veterans, providing them with disability benefits and health care. In this sobering study, Nobel Prize winner Joseph E. Stiglitz and Harvard University's Linda J. Bilmes reveal a wide range of costs that have been hidden from U.S. taxpayers and left out of the debate about our involvement in Iraq. That involvement, the authors conservatively estimate, will cost us more than $3 trillion."Stiglitz and Bilmes have clearly demonstrated the need for Congress and the administration to ensure that those making sacrifices today will see those sacrifices honored in the future."'"Dave W. Gorman, executive director, Disabled American Veterans

About the Author

Linda J. Bilmes, of Harvard University's Kennedy School of Government, is an expert in government finance. She is a former assistant secretary and chief financial officer of the U.S. Department of Commerce.Winner of the 2001 Nobel Memorial Prize for Economics, Joseph E. Stiglitz is the best-selling author of Making Globalization Work; Globalization and Its Discontents; and, with Linda Bilmes, The Three Trillion Dollar War. He was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank. He teaches at Columbia University and lives in New York City.

Product Details

ISBN:
9780393067019
Subtitle:
The True Cost of the Iraq Conflict
Author:
Stiglitz, Joseph E.
Author:
Stiglitz, Joseph E.
Author:
Bilmes, Linda J.
Publisher:
W. W. Norton & Company
Subject:
Military - Iraq War (2003-)
Subject:
War
Subject:
Finance
Subject:
War -- Economic aspects -- United States.
Subject:
Iraq War, 2003- - Finance - United States
Subject:
World History-Iraq War (2003-?)
Publication Date:
20080217
Binding:
Hardcover
Grade Level:
General/trade
Language:
English
Pages:
336
Dimensions:
8.66x6.00x1.15 in. .91 lbs.

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Related Subjects

History and Social Science » Economics » US Economy
History and Social Science » Military » Iraq War (2003-)
History and Social Science » Politics » General

Three Trillion Dollar War (08 Edition) Used Hardcover
0 stars - 0 reviews
$12.00 In Stock
Product details 336 pages W. W. Norton & Company - English 9780393067019 Reviews:
"Publishers Weekly Review" by , "Readers may be surprised to learn just how difficult it was for Nobel Prize-winning economist Stiglitz and Kennedy School of Government professor Bilmes to dig up the actual and projected costs of the Iraq War for this thorough piece of accounting. Using 'emergency' funds to pay for most of the war, the authors show that the White House has kept even Congress and the Comptroller General from getting a clear idea on the war's true costs. Other expenses are simply overlooked, one of the largest of which is the $600 billion going toward current and future health care for veterans. These numbers reveal stark truths: improvements in battlefield medicine have prevented many deaths, but seven soldiers are injured for every one that dies (in WWII, this ratio was 1.6 to one). Figuring in macroeconomic costs and interest-the war has been funded with much borrowed money-the cost rises to $4.5 trillion; add Afghanistan, and the bill tops $7 trillion. This shocking expose, capped with 18 proposals for reform, is a must-read for anyone who wants to understand how the war was financed, as well as what it means for troops on the ground and the nation's future." Publishers Weekly (Starred Review) (Copyright Reed Business Information, Inc.)
"Synopsis" by , The true cost of the Iraq War is $3 trillion--and counting--rather than the $50 billion projected by the White House.
"Synopsis" by , "This is a catalog [of costs] the Bush team never looked at. It's a catalog that they still don't want you to see."'"James Galbraith
"Synopsis" by , America has already spent close to a trillion dollars on the wars in Iraq and Afghanistan, but there are hundreds of billions of bills still due'"including staggering costs to take care of the thousands of injured veterans, providing them with disability benefits and health care. In this sobering study, Nobel Prize winner Joseph E. Stiglitz and Harvard University's Linda J. Bilmes reveal a wide range of costs that have been hidden from U.S. taxpayers and left out of the debate about our involvement in Iraq. That involvement, the authors conservatively estimate, will cost us more than $3 trillion."Stiglitz and Bilmes have clearly demonstrated the need for Congress and the administration to ensure that those making sacrifices today will see those sacrifices honored in the future."'"Dave W. Gorman, executive director, Disabled American Veterans
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