From: Rakesh Bhandari (rakeshb@STANFORD.EDU)
Date: Fri Mar 26 2004 - 11:49:15 EST
Cyrus, In thinking about your argument that the value of the Iraqi oilfields is far exceeded by the cost of the work, I find reason in Milan Rai's rejoinder. The cost of the war is socialized; the profits from developing those fields are private. Imperialism can be costly for the populace and profitable for the few. This is why I have been objecting to David Y's argument about the spoils of imperialism which he has now indicated does not so easily apply to the US. Indeed. In short, I don't think the economic discrepancy to which you point means that the war and occupation were not economically motivated. Moreover, I think the US wants to put itself in a position to develop oil fields throughout the region (and otherwise maintain its position in the Gulf). So the profits it hopes to make are not confined to those from developing the Iraqi oil fields. Yours, Rakesh
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