Monday, May 22, 2006

The cost of the Iraq war, in context

By Martin Wolf of the Financial Times.
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Definitely worth a read, but if you haven't got a subscription, listen to his free podcast here instead.
"Before the Iraq war began, Lawrence Lindsey, then president George W. Bush’s economic adviser, suggested that the costs might reach $200bn. The White House promptly fired him. Mr Lindsey was indeed wrong. But his error lay in grossly underestimating the costs. The administration’s estimates of a cost of some $50-$60bn were a fantasy, as were Saddam Hussein’s weapons of mass destruction, and much else."
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