Governments are usually quick to tell us what a war costs. They’re much slower to tell us what counts.
In this Prof G+ Deep Dive, Scott breaks down why the official price tag of war almost always understates the real economic cost — from military spending and replacement weapons to veteran care, inflation, debt interest, and the decades-long consequences that rarely make it into the headline number.
Then, Scott speaks with economist Justin Wolfers to unpack why estimating war costs is so difficult, why governments routinely get it wrong, and what Americans should understand before accepting any number at face value.
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