War actions have a price tag, but military actions are not the centerpiece of modern warfare. Since WWII, the predominant national initiatives are economic dominance, power in the international marketplace and in the financial industries. It's economic warfare, and the Great Recession was just one of the results.
The developed world, led by the U.S. and E.U., continues to push the limits.
The Economic War costs more, does more damage, harms more innocent people, and causes more deaths.
The poorly regulated financial industry now plagues the entire world. Developed countries are at risk and have suffered significant loss. Developing countries are even more harshly affected.
The great recession continues to adversely affect national productivity, workforce participation, and economic growth. Developed countries suffers similarly. Developing countries of the world suffer even more as the effects persist.
See the Brookings Institute analysis
here.
