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Interesting thread. But it's important to convert to purchasing power parity, since most of this is just exchange rate movements.
Iraq GDP per capita in 2002: ~$12,000
In 2017: ~$15,600
That's about a 30% gain in 15 years.
For the U.S., the gain over that period was 57%.
Iraq GDP per capita in 2002: ~$12,000
In 2017: ~$15,600
That's about a 30% gain in 15 years.
For the U.S., the gain over that period was 57%.
Now, those figures aren't inflation-adjusted.
If we look at inflation-adjusted growth from 2002-2017, Iraq actually grew by about 43% total.
That's about a 2.4% annualized real per capita growth rate.
If we look at inflation-adjusted growth from 2002-2017, Iraq actually grew by about 43% total.
That's about a 2.4% annualized real per capita growth rate.
In other words, the idea that Iraq is much richer now than before the U.S. invasion, or has grown at a rapid pace in the last few years, is just not true.
There has been modest progress. I'd expect as much just from the lifting of U.S. sanctions!
There has been modest progress. I'd expect as much just from the lifting of U.S. sanctions!
If the U.S. invasion was good for Iraq's long-term economic performance, it's only because that invasion also caused us to lift *our own sanctions*, which were devastating Iraq's economy prior to the war!
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