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Essay / Research Paper Abstract
A 3 page overview of the two views regarding the economic impact our current war with Iraq will have on the American economy. Those who support the war often contend that it will positively impact the economy much like World War II was successful in bringing us out of the Great Depression. Those who contest the war contend that it will have a disastrous impact on our economy. The author of this paper points out the relative percentage of the gross domestic product (GDP) for this current war is impressively less than that for previous wars such as World War II, Vietnam and even the Persian Gulf War. Consequently the economic impact will be quite minimal. We are unlikely to either profit or suffer greatly as a result of our war with Iraq. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: AM2_PPIrqWrE.rtf
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Unformatted sample text from the term paper:
Americans are essentially split into two camps in regard to their perceptions of the economic impacts our war with Iraq will entail. While those
that remember the history of World War II fondly remember how the great war pulled America out of the Great Depression feel that the economic impacts of our current war
with Iraq will be of a positive nature, others have a more critical outlook (Postrel, 2003). They point out that the current war with Iraq, and its aftermath, despite
its projected costs of an excess of $100 billion (Altman, 2003) is a much different affair than was World War II or indeed any of the other wars in which
this country has played the lead role. This is a war which will be characterized, according to the critics, by a diversity of costs not directly related to the
war itself (Crutsinger, 2003). Some estimates, in fact, however between $778 billion and $1.92 trillion when all costs are taken into consideration (Crutsinger, 2003). These costs will be
reflected in everything from a rapid downspiral in consumer confidence to soaring oil prices (Crutsinger, 2003). Those who support the war, however, continue to argue that the economy will
be boosted as a result of the war. The purpose of this paper is to analyze each of those arguments through a comparison of the economic realities of previous
and current wartime impacts on the national economy. When comparing the economic impacts of World War II and the current war in Iraq
we are in essence comparing apples and oranges. The cost of World War II represented one-hundred and thirty percent of the United States gross domestic product (GDP) (Crutsinger, 2003).
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