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Monday, October 11, 2004

The "War on Terror" Index

Via Juan Cole, Professor John Walbridge of Indiana University uses the value of the Pakistani rupee as a barometer for the state of the "war on terror." Since 9/11/01, the rupee has dropped 20% in value against the Euro, which Walbridge sees as a lack of confidence in Pakistan's stability, which is closely linked to the "success" of the "war on terror."

On the "bright" side, however, the rupee has gained 8% versus the dollar. That is, Pakistan's economy appears more stable than ours.