Letters to the Editor

Fuzzy economics

To the Editor:

Aneri Jambusaria's article concerning the war with Iraq ("War worth the oil," The Daily Pennsylvanian, 11/15/02) makes little economic sense. A recent report published by William Nordhaus, an economics professor at Yale University, points out that, in the best-case scenario, a short war is likely to incur costs for which no amount of increased Iraqi oil production could compensate. His analysis suggests that even a best case scenario would lead to devastating effects on the U.S. and world economies.

One of the biggest differences between now and 1991 is that the U.S. is paying for almost the entire war (at least $50-$100 billion), whereas in 1991 the U.S. paid for little (only $2 billion) and allies paid for most.

Also, the current U.S. economic situation is starkly different than in 1991. Today, inflation is not a major concern. In 1990, the inflation rate was 6.1 percent, compared to 1.6 percent last year. That is why the Federal Reserve has been able to aggressively lower interest rates to historic lows trying to spur the economic growth. If inflation were a major problem, they would not have been able to lower interest rates without triggering inflation.

If inflation were a problem today, then falling oil prices might in fact help. However, this is not the case.

Wall Street wants above all else to avoid a war which will cost the U.S. economy so much money and likely usher in a prolonged occupation, increase terrorist risks and cause the current recession to deepen.

There is no economic rationale for invading Iraq. The costs are many and Iraq poses no threat whatsoever to the U.S. The attack is in the interests of others.

Omar Bassal Wharton Graduate '01

•

To the Editor:

Aneri Jambusaria argues that war in Iraq is justified because it will boost the American and global economies, thereby improving the lives of Americans and many others. To support the argument, the author claims that the boom years of the '90s can be attributed to the first Gulf War, precipitated by the first President Bush.

The argument is total rubbish. The author fails to prove that there is any link between the fist Gulf War and the strong American economy because there is no link: the economy was in miserable shape for a number of years following the war. Nor does Jambusaria bother to consider the positive effects of Clinton-era economic policy focused on a balanced budget and benevolent economic intervention in Mexico and elsewhere during the boom years. The current, war-mongering administration has not tried either of these policy approaches.

The author's utterly self-serving, myopic and greedy rationale for the war in Iraq is deplorable. To add insult to injury, the column employs economic facts selectively and in an utterly biased fashion, meaning that her disgusting moralisms aren't even based on a sound understanding of economics.

John Nemec Ph.D. student, Asian and Middle Eastern Studies

Oil not worth human life

To the Editor:

Sometime after Sept. 11, Newsweek published an issue asking, "Why do they hate us?," in reference to much of the Arab and Muslim world. Aneri Jambusaria's column may very well be the best answer to that complex question.

The very fact that Jambusaria attempts to justify war against a nation that has been ravaged by war and brutal sanctions for the past decade through economic gain is appalling. As an Arab who has lived in Jordan for most of his life, I have vivid memories of taping up the windows in my family's house, buying large quantities of food and inspecting gas masks, all in preparation for a war that was not justified then and can never be justified now.

I remember the wave after wave of refugees, Iraqi and Kuwaiti, that came to Jordan, where most of them were forced to work as taxi drivers, even though their education was the best in the Arab world. I can't stop thinking of my Iraqi music teachers and their continuous, impossibly naive hope that they could go back to their home before they were forced to sell off their instruments.

The human price of a war against a country that has already been brought to its knees is far greater than the "suffering" of Americans under the "ravages" of a $1.80 per gallon gas price.

Nabih Bulos College '02

Please note All comments are eligible for publication in The Daily Pennsylvanian.