What is the role of an agricultural economist?

Noble wining economist Joseph Stiglitz said that the iraq war had a role to play in slowdown of the US?

• economy and is hindering its economic growth. do you agree with the statement ? what are the benefits ? support your answers with relevant facts and figures .

• Answer:

  One of the reasons for the high price of oil in recent years has been decreased oil production in Iraq due to the US led war there. Iraq has the second largest oil reserves in the world. And if it wasn't for the war. Then increased oil production there would've kept world oil prices quite reasonable. And the US government has pursued unwise economic policies in order to borrow lots of money for the war in Iraq and Afghanistan. Basically, the US government aided and abetted currency manipulations and trade imbalances with China and other countries in order to keep the interest rates low in USA and borrow lots of money from foreign investors on favorable terms. Artificially low interest rates also enabled US consumers to borrow and spend a lot more than they should've. And this has led to the current credit crisis and the economic recession.