THE ECONOMIC CONSEQUENCES OF THE PEACE IN IRAQ

Edward Nell and Willi Semmler
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Edward Nell: New School University
Willi Semmler: New School University

Revista de Economia Mackenzie (REM), 2004, vol. 2, issue 2, 189-210

Abstract: The United States Administration claims that it invaded Iraq because only a‘ regimechange’wouldsuffice to protect americans from the threat of weaponsof mass destruction. Moreover, they have added, such a change will remove a neminent threatof American security and bring democracy to Iraq and the example this sets will contribute tothe development of democracy throughout the region. Democracies, inturn, tendto be peaceful, so the end result of the inva-sion will be greater regional security and less threat to US citizens.The article argues that the main cause of the War against Iraq was the petroleum.The United States needs to assure for itself an uninterrupted supply of oil, since they are one of the great importers and the Middle East isthe main source of the product. The argument shows that the economic andsocialcosts aregreaterthan the benefits and defends that special emphasis should be given to the conservation of energy and mainly to the development of renewable sources of energy.

Keywords: Iraq War; renewable sources of energy; conservation of energy; oil production; world oil reserves. (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:aft:journl:v:2:2:2004:jan:dec:p:189-210

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