March 02, 2008
First Things First

From Reuters. I’m guessing that Stiglitz knows a little something about economics, since he won the Nobel Prize for it. (On the other hand Kissinger won the Nobel Peace Prize and what he knows about peace could not only fit in the barrel of a gun, but did.)

Meanwhile, the U.S. government is severely underestimating the cost of the war, Joseph Stiglitz and co-author Linda Bilmes write in their book, "The Three Trillion Dollar War" (W.W. Norton), due to be published on Monday…

To illustrate how the money could be spent elsewhere, Bilmes cited the annual U.S. budget for autism research — $108 million — which is spent every four hours in Iraq. A trillion dollars could have hired 15 million additional public school teachers for a year or provided 43 million students with four-year scholarships to public universities, the book says.

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Posted by Jerome Doolittle at March 02, 2008 12:23 PM
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On the other hand, Milton Friedman won a Nobel, and he didn't understand economics at all. But then, as Chomsky says, if economics were a real discipline…

Posted by: Chuck Dupree on March 3, 2008 1:35 AM
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