The guns fell silent in the Persian Gulf on August 20, 1988, when Iran and Iraq finally agreed to a ceasefire. One of the longest and most devastating uninterrupted wars among modern nation states since 1945, the Iran-Iraq conflict produced neither victor nor vanquished, yet the domestic, regional, and international repercussions of the war clearly indicate that "going back" is not an option.
The current crisis in the Persian Gulf has placed Iraq at the center of world attention. This study provides one of the first examinations of the economic consequences of the Gulf War and its impact on oil production, exports, foreign exchange earnings, non-defense foreign trade and agricultural performance. In the final section, Mofid brings together the component parts of the economic cost of the war to assign a dollar value to the devastation.
The Gulf War has also provided some interesting and often alarming insights into international behavior. At one time or another, almost one-third ofUN members provided weapons, ammunition, or support systems to both countries simultaneously, and undercover partnerships and loose loyalties flourished. Although the terminology of ceasefire has centered on the idea of reconstruction, this book questions the immediate future for the region. Is peace merely an opportunity to re-arm, consolidate, and prepare for further clashes, or is stability possible in a region devastated by war and shifting allegiances?

Today, despite many significant achievements in science, technology, medicine, transportation and communications, and a vast increase in world trade, the globalized world economy is facing serious socio-economic, political, cultural and environmental problems, of potentially catastrophic proportions. Although many attempts have been made by international organizations like the World Bank and IMF to raise living standards, the dire poverty of billions of people and the widening gap between rich and poor, both within and between countries, point to the failure of these policies. Consequently, we face global crises of inequality, injustice, poverty, marginalization, exclusion and environmental degradation. There has also been a huge rise in crime, corruption and now terrorism. Economic and political failures have resulted in mass migrations across national borders, causing further problems of xenophobia, fear, mistrust, racism and intolerance, which are threatening the fabric of societies all over the world. So, what has gone wrong? Dr Mofid, who has taught economics at university for over 20 years, argues that the root of the problem lies in the way economics is taught, with its narrow focus on "self-interest" and "competition" as the sole motivating factors in economic activity. This ignores equally important considerations like compassion, co-operation and the common good, which are essential for a prosperous and harmonious society. Globalization today is regarded by many as a means of securing for richer individuals, corporations and nations an ever larger slice of the wealth produced, polluting the environment in their greedy pursuit of more, and locking billions into hopeless poverty. In "Globalisation for the Common Good", the author argues that it is possible to achieve a balance between economically efficient production and an equitable distribution of the wealth in a sustainable environment, so that everybody who is willing to work can share in the benefits of globalization. He puts forward an alternative economic model which has firm theological, spiritual and ethical foundations.

Modern economics has deliberately divorced itself from all moral and ethical considerations in the belief that it needs to be a value-free science. In schools and universities students are taught that what matters is maximising profits and cutting costs - any other considerations are irrelevant to them as economists. This is the philosophy which guides multinationals, governments and international institutions like the World Bank and the IMF. It is a matter of hard choices. Relief of poverty is charitable, a noble ideal, but has nothing to do with economics. In the year in which the campaign to Make Poverty History was launched, and in which Tony Blair and Gordon Brown were trying persuade the G7 to reduce the debt burden on developing countries, an economist, Dr Kamran Mofid, and a theologian, Rev Marcus Braybrooke, joined in a dialogue to consider how economics and theology could be brought together again - for they have not always been divorced. Dr Mofid points out that before Adam Smith, who is generally regarded as the 'father' of modern economics, had written his famous book The Wealth of Nations, he had been professor of Moral Philosophy at Glasgow University and had written The Theory of Moral Sentiments. Before that, St Thomas Aquinas, Aristotle and Plato considered social issues in a moral context. Marcus Braybrooke recognises that 'the thought of religion interfering with economic and political life' will concern those 'afraid of the influence of extremists in the world of Islam or of conservative evangelicals in the USA'. But he points out that 'if there is no concept of truth, business agreements become impossible' - the presence of lawyers at every negotiation shows how trust has been undermined. Together they call for the evolution of a global ethic that respects cultural diversity, the environment and economic reality. Though they bring experience and expertise to the dialogue, the book is intended for a general readership - the future of the world affects everyone. It is too important to leave to experts. In a clear, engaging style the authors show how economic issues can be understood by us all - it is important we do, so that we can help build a world that is just, free and prosperous.

The Iran-Iraq War were one of the longest and most devastating uninterrupted wars amongst modern nation states. It produced neither victor nor vanquished and left the regimes in both countries basically intact. However, it is clear that the domestic, regional and international repercussions of the war mean that 'going back' is not an option. Iraq owes too much to regain the lead it formerly held in economic performance and development levels. What then does reconstruction mean? In this book, Kamran Mofid counteracts the scant analysis to date of the economic consequences of the Gulf War by analysing its impact on both economies in terms of oil production, exports, foreign exchange earnings, non-defence foreign trade and agricultural performance. In the final section, Mofid brings together the component parts of the economic cost of the war to assign a dollar value to the devastation.