[December, 2008]  No matter how deeply he or she gazes into a crystal ball, the world’s most far-sighted economic guru would not find it easy to predict the long-term outcome of the current Global Financial Crisis (GFC). So it might seem a bit premature to start drawing inferences from the collapse of renowned financial firms, market gyrations, and massive government interventions, especially if these inferences relate to the Global War on Terrorism (GWOT). Nonetheless, there is a compelling reason to endeavor to do so: correctly assessing the impact of the GFC and its economic consequences on how the War can or should be fought may save us from making serious errors. Considering how many serious errors have already been committed in both the GWOT and the GFC, this seems highly desirable. Continue reading »

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