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Economic costs of war

watson.brown.edu

11–20 of 618 posts

Re: Economic costs of war

#11
But we can’t afford universal healthcare.

Edit: Y’all, every other OECD country doesn’t have the healthcare challenges the US has, and they also don’t light trillions of $fiat on fire waging useless wars. You should care how tax dollars are spent.

Re: Economic costs of war

#13

Deaths 9/11 2,996 Deaths Covid-19 USA 621,000 207x Lack of understanding of large numbers is a flaw in the human mind we have to figure out how to fix.

Some related numbers for just Afghanistan:

American service members killed in Afghanistan through April: 2,448.

U.S. contractors: 3,846.

Afghan national military and police: 66,000.

Other allied service members, including from other NATO member states: 1,144.

Afghan civilians: 47,245.

Taliban and other opposition fighters: 51,191.

Aid workers: 444.

Journalists: 72.

https://apnews.com/article/middle-east-business-afghanistan-...

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It’s funny, over 60k Afghan police/military died, and our plan was to arm 300k of them and hope they like perpetual war against the Taliban. Yeah, I think they did a hard pass on that one and just wanted it all to stop.

Re: Economic costs of war

#14
post #2

There isn't an "opportunity cost" as the article discusses, there's no evidence that Congress would have spent that money on something else. It doesn't sit in an account and then they allocate it, they make it up on paper and then try (and fail) to cover it later.

You can only print so much money though before the dollar becomes worthless, so there is an opportunity cost since you can't print infinite dollars

Re: Economic costs of war

#15
post #2

There isn't an "opportunity cost" as the article discusses, there's no evidence that Congress would have spent that money on something else. It doesn't sit in an account and then they allocate it, they make it up on paper and then try (and fail) to cover it later.

The simplest way to look at it is the national debt would be 22.6T instead of 28.6T. That’s one option where nothing changes except war or no wars. Many people say national debt has zero impacts but eventually nobody is going to be lending the US money if we don’t pay our debt, which one way or another leads to a world of hurt.

However, to get that debt we needed to borrowing money from someone and agree to pay them interest. We could have also browned the same money and lowered taxes, or borrowed the same money and had free universal healthcare or whatever other government spending we wanted.

That’s what opportunity cost means.

Re: Economic costs of war

#16
post #2

There isn't an "opportunity cost" as the article discusses, there's no evidence that Congress would have spent that money on something else. It doesn't sit in an account and then they allocate it, they make it up on paper and then try (and fail) to cover it later.

Ignore money. Think in terms of stuff. Metal that gets put into Humvees can't be put into something else. We threw away an insane amount of stuff. And think in terms of people. People that spend a year as soldiers in Afghanistan can't spend that year doing something else. We threw an insane amount of people-time, and a tragically insane amount of people. There is an opportunity cost in terms of both stuff and people.…

Absolutely not. Waste fuels the economy. There's no shortage of metal, only the price of metal.

As for people, spending a couple of years in the military is much better personal development for many young people than going to college at an age when most people can't appreciate it.

These things aside, of course the loss of life is horrific and a terrible waste.

Re: Economic costs of war

#18
This title is completely wrong. The article estimates the US has accumulated around $2 trillion in war debt as of 2020. It goes on to estimate interest payments will equal $2 trillion by 2030 and $6.4 trillion by 2050.

Re: Economic costs of war

#19
Nah... probably large portion of this was paid to US corporations and citizens.

Spending on the level of government is counterintuitive. If you are government you hand out money but it gets back to you.

Unfortunately, interest on that debt is real and is owed to other countries.

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