Iraq for Sale
Definition and how it took place
The film Iraq for Sale presents various concepts which include government failure and the neo-classical economics. Government failure is an action that the government takes towards rectifying something in the economy but results in more problems. Regarding the war in Iraq, the government failed in carrying out an audit of the companies that took responsibility for overseeing and servicing the army (“Burdine”). On the other hand, neo-classical economics is a move by an individual to satisfy himself by maximizing profits regarding his supply and demand rationality. The companies who took the war contracts used it as an opportunity to get more funds from the government by demanding more than what they needed (“Burdine”).
What surprised and outraged me
I did not know the above aspects of the war and the fact that the contracted companies used it as an opportunity to maximize on profits surprised me. The actions that the companies took such as destroying expensive war equipment to get more funds outraged me (“Burdine”).
My policy proposal
My policy proposal is that the government should take a step and ensure that there is a strict policy that regulates the awarding of high-profile contracts to private companies and also one that carries an audit of the operations of the company during operations.
What the government could have done differently and c…
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