As such, comparative advantage is an important concept in global trade, and it's the reason many countries concentrate on trying to produce certain goods or services more efficiently than other countries.
In March 2013, the total cost of the Iraq War to date was estimated at $1.7 trillion by the Watson Institute of International Studies at Brown University. Some argue that the total cost of the war to the U.S. economy will range from $3 trillion to $6 trillion, including interest rates, by 2053, as described in the Watson Institute's report.
President Bush pr oposed to spend a mere $7.4 billion on climate change this year, compared to $647.2 billion for the military overall and $155.5 billion for the war in Iraq alone. 19 And these budget figures donât include the immediate or long-term social and macroeconomic costs of the war.