What this simple accounting techniques conceals that in the deepening
financilaisation of imperialism, the grab for land and oil control lead
mounting imperial rents. What more because in the near east oil and war
coexisted as if in a permanent state, I heard a lecture the other day at SOAS
in which the speaker says that there is rent accruing from the calibration of
the degree of conflict and instability in the near east by which the US ruling
class extorts the resources of the rest of the world.
In value terms that are created by non monetized social activity the economic
gains to capital are immense, hence colonialism in one form or another.
Joseph Stiglitz
March 13, 2008 6:00 PM
http://commentisfree.guardian.co.uk/joseph_stiglitz/2008/03/war_costs_and_costs_and_costs.html
With March 20 marking the fifth anniversary of the United States-led invasion
of Iraq, it's time to take stock of what has happened. In our new book The
Three Trillion Dollar War, Harvard's Linda Bilmes and I conservatively estimate
the economic cost of the war to the US to be $3 trillion, and the costs to the
rest of the world to be another $3tn - far higher than the Bush
administration's estimates before the war. The Bush team not only misled the
world about the war's possible costs, but has also sought to obscure the costs
as the war has gone on.
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