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Military Cooperation as Ponzi Scheme

Steve Coll in The New Yorker blog on how Pakistan will get away with it: Pakistan’s military and intelligence service takes risks that others would not dare take because Pakistan’s generals believe that their nuclear deterrent keeps them safe from regime change of the sort under way in Libya, and because they have discovered over […]

Steve Coll in The New Yorker blog on how Pakistan will get away with it:

Pakistan’s military and intelligence service takes risks that others would not dare take because Pakistan’s generals believe that their nuclear deterrent keeps them safe from regime change of the sort under way in Libya, and because they have discovered over the years that the rest of the world sees them as too big to fail. Unfortunately, they probably are correct in their analysis; some countries, like some investment banks, do pose systemic risks so great that they are too big to fail, and Pakistan is currently the A.I.G. of nation-states.

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