TBogg

When Libertarians go bad…

The Chuckie Cheese kids who have taken over at InstaHehIndeed are so cute when they throw out their deeply held beliefs because they’ve painted themselves into a corner:

STICKER SHOCK The article I linked below contains some cost comparisons:

Yale University economist William D. Nordhaus estimated that in inflation-adjusted terms, World War I cost just under $200 billion for the United States. The Vietnam War cost about $500 billion from 1964 to 1972, Nordhaus said. The cost of the Iraq war could reach nearly half that number by next fall, 2 1/2 years after it began.

How could that be? World War I and Vietnam were both much, much larger efforts than the current conflict, so how come this one costs so much? The answer is that we’re substituting capital for labor: we use a lot more equipment, and a lot fewer men. Since destroyed equipment is a lot easier to replace than destroyed people, it’s a price I’m very glad to pay.

posted at 11:24 AM by Megan McArdle

A HEARTENING SIGN FOR HAWKS The administration is apparently planning to ask for $70 billion more for the war in Iraq, which will bring the total price tag to about $225 billion. Yes, that’s a lot of money, but on the other hand, remember when folks like Eric Alterman were telling us it was going to cost trillions?

The war has cost more than I think I thought it would (I don’t remember ever assigning it an exact price tag), but if it succeeds in building a democracy in the middle east, it will be well worth the cost. And the administration’s willingness to throw around a big figure like this the week before the election shows me that they’re taking it seriously–and compares very favourably to John Kerry’s political opportunism on the issue.

posted at 11:21 AM by Megan McArdle

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TBogg

TBogg

Yeah. Like I would tell you....