Woah, I just thought of a serious hidden cost of the Iraq war...

[lvx35]

I was just reading a thread where somebody said "you can't put a price on human life". I agreed, but started thinking about ways you could look at the actual cost of a lost human life. For starters, the average American will make something $2,000,000 dollars in the course of their lives...We can assume they offer at least that much value in products or services, possibly more if you take higher up profits and taxes into account. So right of the bat, we can see that we have lost:

$2,000,000 x 3,000 (dead) = 6 billion dollars of products and services lost directly from the US economy.

The even more horrifying picture comes from looking at Iraqi casualties, where (assuming they are capable of producing goods and services equivalent to their American counterparts) the cost to the global economy is around $100 billion.

These numbers are based of truly conservative estimates of losses, and do not take into account things like the cost of schools blown to bits on the earning potential of future Iraqi workers, or the cost of lost infrastructure on productivity. Also, numbers like this can NEVER take into account the pain of a losing a loved one in war...but they can offer a hint of exactly how FUCKING STUPID the Iraq war is.

[pitohui]

1. give me a job

the average american makes $2 million over their lifetime, oh pullease

you've got to make it a little believable

[lvx35]

3. here's some stats

regarding where I made the estimates:
http://usgovinfo.about.com/library/weekly/aa072602a.htm
This shows $2.1 million dollars for people with any college degree, $2.5 million for masters, and up to 4.4 million for other special degrees. Those with no degree of any kind make around $1.3 million Now given the fact that troops who have done service have college paid for, and we can assume some will go on to do more than just undergrad work, I would say the figure is pretty accurate.

[sandnsea]

2. Median wage is $29,000

So that would be just a little over a million over 40 years.

And as a side note, be sure and chunk away at least $200,000 out of that million for retirement. :crazy:

[lvx35]

5. see the source of my post.

http://usgovinfo.about.com/library/weekly/aa072602a.htm
This is a projected amount for the troops, based off the fact that the vast majority completed high school (1.2 million a lifetime) and have college paid for. ($2.1 million for 4 year degree) And I expect some will go on to things like professional degrees, ranging around $4.4 million in a lifetime.

edit: note also that these figures are projected lifetime earnings, which take into account growth factors in America and inflation.

[sandnsea]

7. $29,000 is median for all jobs

Some will go on to become professionals, some will end up homeless. Mostly I was posting because people have a tendency to overstate income, not to have a debate about the monetary value of anybody's life.

[lvx35]

9. YEah, understood. Its just about inflation and other goodies.

I was just saying that the expected earnings take into account growth, inflation over the next 40 years, and the higher earning potential of military guys, because they by definition lack disabled people, have few drop outs, and have free college.

[Sherman A1]

4. Back in High School Economics

That was about a thousand years ago, this was called "Opportunity Cost". It's the missed opportunity of these people have lived, contributed to society (perhaps one would have created a new medicine or another breakthrough in science), had children, donated to charities, purchased homes, cars and products which in turn would have created jobs for others, etc, etc. Now they, nor society will have that opportunity to benefit from their continued presence.

[lvx35]

6. Yeah, its hard to quanitify the unknowns.

Did an Einstein die? A Picasso? Some losses can't be quantified.

[livvy]

8. Other costs to consider...

With so many returning with such devastating injuries, both physical and mental, two other costs might be considered:
-the possible reduction in earning potential
-the possible need for social services (financial aid, therapy, etc.)
These costs need to be considered. Returning injured vets deserve whatever is necessary to help them return to civilian life.
Of course, it seems this is not necessarily a high priority with this administration, but hopefully it will be, once we get these vermin out of our White House.

[lvx35]

10. Good point....

and as far as what that other poster said about opportunity cost, its also worthwhile to think about "kids not had", (because their would be parents are dead) and their accomplishments...it goes on and on!

[SoCalDem]

11. and the crumbled families in the wake, cost a lot too..

how many young soldiers with a few kids, come home and have their marriages break up? Single Moms with kids need lots of help, and a young soldier with PTSD or a physical injury will have a lowered income ahead, but those kids still need financial help..