Joseph Stiglitz, former chief economist of the World Bank and winner of the Nobel Prize in Economics, and Linda Bilmes of Harvard University, have stated the total costs of the Iraq War on the US economy will be three trillion dollars in a moderate scenario, described in their book "The Three Trillion Dollar War" and possibly more in a study published in March 2008. Stiglitz has stated: "The figure we arrive at is more than $3 trillion. Our calculations are based on conservative assumptions...Needless to say, this number represents the cost only to the United States. It does not reflect the enormous cost to the rest of the world, or to Iraq."