John Robb's Weblog">One of the things that really bothers me about America's new security
regime is that it ignores economic realities. The current world order
isn't run by nation-states. It's run by Adam Smith (aka global
markets).
The history of the last 20 years will focus on the radical
expansion of these markets to encompass 3 billion people. It was the
tipping point for capitalism.
However, markets are harsh rulers. They punish non-economic behavior
with a sharp slap of the invisible hand. There isn't any special
immunity for the US.
So, when we spend $150 in direct security costs for every barrel
exported by Iraq, we invite the slap. The cost of Iraq's security isn't
reflected in the price of oil, nor is the $5 per barrel of naval
security we pay for every barrel of oil from the Persian Gulf. [John Robb's Weblog
One of the things that really bothers me about America's new security
regime is that it ignores economic realities. The current world order
isn't run by nation-states. It's run by Adam Smith (aka global
markets).
The history of the last 20 years will focus on the radical
expansion of these markets to encompass 3 billion people. It was the
tipping point for capitalism.
However, markets are harsh rulers. They punish non-economic behavior
with a sharp slap of the invisible hand. There isn't any special
immunity for the US.
So, when we spend $150 in direct security costs for every barrel
exported by Iraq, we invite the slap. The cost of Iraq's security isn't
reflected in the price of oil, nor is the $5 per barrel of naval
security we pay for every barrel of oil from the Persian Gulf. [John Robb's Weblog]