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In dealing with Iraq, the U.S. and its allies would benefit from drawing on an important axiom of economics, that of “sunk costs.” It suggests that contrary to common intuition, how much you have invested in a property (or policy) in the past should not affect your decisions about future investments. The decisive question is whether the property is currently in good shape, or is falling apart. It makes no sense to invest in a sinking Titanic, however much it cost to build.
U.S. President Barack Obama and many others are moved by the huge sacrifices in life, money and political capital that were made in Iraq. Obama hopes that one more investment will finally make Iraq into a functioning nation and ally. He demands that Iraq’s next government be formed in a way that Sunnis will feel “connected to and well served.”
Granted, Behavioral Economics has demonstrated that “people” (implying all) are unable to act as strong as definitions of rationality assume. Their cognitive limitations are “hard wired”. However Behavioral Economics’ own data show that important segments of the population find “the” rational answer to choices posed to them. How do these findings square with the thesis that limitations are hard wired and universal? And, more attention should be paid to the extent to which various people deviate from the rational choice, and—whether training can improve performance despite the claim that flaws are hard wired.
Hillary Clinton’s book Hard Choices reaffirms what critics have long stated about President Barack Obama’s China policy: that there is none but merely vague generalizations and that the administration is largely reactive rather than proactive.
Clinton’s book will be welcomed by those who are interested in certain areas of the world more than others, because, unlike many memoirs, this book is not organized chronologically. Instead, there is a chapter for each region or country of special interest: one on Afghanistan, one on Pakistan, one on Europe, one on China, and a whole chapter on Chen Guangcheng.
Today marks 45 years since Neil Armstrong became the first person to walk on the moon, taking "one small step for man, one giant leap for mankind." Overall, 12 American astronauts have walked on the lunar landscape, the last – Eugene Cernan and Harrison Schmitt – doing so in 1972.
Amitai Etzioni’s communitarian perspective offers a comprehensive approach to international affairs in addition to offering guidance for domestic policy. His argument that a focus on traditional “realist” concerns for a nation’s security and interests (“security first”), combined with a dialogue over competing moral imperatives, is more likely to lead to the emergence of an idealist end state--a sustainable international community. His emphasis on gradualism--of breaking apart complex policy goals into small, discrete steps--comes from his assessment that this is a better way of promoting lasting change in the international system. His perspective does not fit neatly into any of the dominant U.S. foreign policy approaches, but his ideas have formed part of the foreign policy debate for the last fifty years.