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Economics of Peace and Security: The Costs of the War in Iraq

Economics of Peace and Security: The Costs of the War in Iraq. Juan Carlos M. Coll PEKEA Bangkok, Nov. 2004. Economics and war. The objectives of war : Peace & security Political power Economic benefits Others… Can these goals be achieved by other means?

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Economics of Peace and Security: The Costs of the War in Iraq

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  1. Economics of Peace and Security:The Costs of the War in Iraq Juan Carlos M. Coll PEKEA Bangkok, Nov. 2004

  2. Economics and war • The objectives of war : • Peace & security • Political power • Economic benefits • Others… • Can these goals be achieved by other means? • Can war’s net benefits be measured?

  3. Cost in terms of human life • Invading coalition: 1,000 deaths • Iraqi forces: 7,000 deaths • Civilian: 25,000 deaths, 50,000 injured • Long run effects of depleted uranium • The Third World

  4. Costs in terms of security • Human rights • Weakening of: • International law • United Nations • Democracy among allied nations • Psychological impact • Strengthening of terrorist organizations • Crime increase in Iraq

  5. Quantifiable Costs (Iraq & world) • Iraqi petroleum industry • Iraqi health infrastructure • Iraqi schools destroyed • Unemployment • Iraqi environment • Human heritage

  6. Quantifiable Costs (USA & world) • USA war budget: 151.1 B$ • Costs of contracts and subcontracts of “reconstruction” • USA debt, deficit, and inflation • Gas prices & business bankruptcy • Transaction costs for unfulfilled contracts • uncertainty regarding the future • “unilateralism” invalidating international agreements

  7. Benefits • Power • Security and liberty • Quantifiable economic benefits • Benefits by criminal activities

  8. Conclusion • Can these goals be achieved by other means? • Can war’s net benefits be measured? • Can we add deaths, human rights and financial costs and benefits? • Whose benefits are to be taken into account?

  9. PEKEA Bangkok, Nov. 2004Economics of Peace and Security:The Costs of the War in Iraq Juan Carlos M. Coll coll@uma.es www.eumed.net/paz/ Economistas por la Paz y la Seguridad

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