The book examines the full cost of the
Iraq War, including many hidden costs. The book also discusses the extent to which these costs will be imposed for many years to come, paying special attention to the expenditures that will be required to care for wounded veterans. The authors conclude by illustrating the
opportunity cost of the resources spent on waging the war. The book was a
New York Times and international best-seller and has been translated into 22 languages. The total cost of $3 trillion is comparable to that found in other studies. The
Joint Economic Committee of Congress estimated that the war would cost $3.5 trillion, while the non-partisan
Congressional Budget Office projected that the total cost will reach between $1.4 and $2.2 trillion. The Stiglitz-Bilmes work builds on an earlier study by
Yale economist
William Nordhaus, who predicted in 2002 that the war could reach $2 trillion if it went badly. Numerous economists, including
James K. Galbraith of the
University of Texas and Nobel Laureate
Lawrence Klein have supported the methodology in the book. Economist Fred Foldvary also wrote a positive review of the book in
Econ Journal Watch in 2008. He believes better knowledge of both the budgeted and implicit costs of the war as spelled out in the book will further a more coherent dialogue on present and future related policy matters. The Costs of War Project at Brown University has estimated the costs at that time as being even higher. . ==Criticism==