September 13, 2003

A Year Ago Today: The Economic Rationale for War Against Iraq

A year ago today I wrote:

The "Economic Rationale" for War Against Iraq: Archive Entry From Brad DeLong's Webjournal: Perhaps the stupidest things written about what action should be taken in response to Iraq's flouting of U.N. resolutions on its armaments are Larry Kudlow's cry to invade Iraq to raise the Dow and John Podhoretz's cry to invade Iraq to elect more Republicans to Congress in November.... Needless to say, policy should rest on whether Saddam Hussein is the successful object of containment policies--a cautious tyrannical madman--or is likely to develop and use weapons that will turn New York or Tel Aviv into abattoirs, not on its effect on the year-over-year growth rate of real GDP.

Well. That's settled now.

Posted by DeLong at September 13, 2003 12:01 AM | TrackBack

Comments

I like reading the old comments. I actually read through all of my comments to this site a month or so ago to see if I had said anything foolish over the last year.

To repeat one of my stupid-but-fun ideas: that Time, Newsweek, et al, reprint summaries of their conclusions/stories from 3 months, 1 year, and 5 years ago. Recently I flipped through some old Time and Newsweek articles from a while back and was shocked to see how little relevance they had, how there was no follow up (remember stem cell research? Front page news now forgotten).

Perhaps the one great gift of blogging is that old news never dies. We finally have the context and analysis that print media is not willing to offer.

Posted by: Saam Barrager on September 14, 2003 12:10 PM

I like reading the old comments. I actually read through all of my comments to this site a month or so ago to see if I had said anything foolish over the last year.

To repeat one of my stupid-but-fun ideas: that Time, Newsweek, et al, reprint summaries of their conclusions/stories from 3 months, 1 year, and 5 years ago. Recently I flipped through some old Time and Newsweek articles from a while back and was shocked to see how little relevance they had, how there was no follow up (remember stem cell research? Front page news now forgotten).

Perhaps the one great gift of blogging is that old news never dies. We finally have the context and analysis that print media is not willing to offer.

Posted by: Saam Barrager on September 14, 2003 12:15 PM

Settled? In whose favour? One year on, the Dow is higher than it was then, we're staring down a (transient?) 5% annualized GDP growth quarter, and the Republicans have had a smashing victory in the mid-term elections. Meanwhile, there's discussion of not even publishing the Kay report, which Josh Marshall speculates is because of the domestic ramifications of an empty report, democracy is hardly blooming, and we've got a run-rate of thousands of wounded troops a year.

Seems to me that if they actually could've sold the war on the rational of stocks and elephants, the White House wouldn't be in such trouble now.

Posted by: Nate Klingenstein on September 14, 2003 12:56 PM
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