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Joseph Stiglitz on Our 'Three Trillion Dollar War'

The cost of war in Iraq reaches far beyond the tab for bullets and bombs, says economist Joseph Stiglitz, co-author (with Linda Bilmes, our guest in the first half of today's show) of the new book The Three Trillion Dollar War: The True Cost of the Iraq Conflict. According to the book, Americans will spend decades treating the physical and psychological wounds of Iraq veterans — and when the economic consequences of the invasion are taken into account, the costs are staggering.

Joseph Stiglitz is a Nobel-Prize-winning economist and founder of the branch of economics known as "The Economics of Information." He is a professor at Columbia University and the author of several books on international economics.

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