A Billion for Bin Laden

R. A. Hettinga rah at shipwright.com
Wed Aug 11 14:48:26 PDT 2004


<http://www.techcentralstation.com/080904D.html>

Tech Central Station  

A Billion for Bin Laden

By James Miller
 Published 
 08/09/2004 


The $25 million reward the U.S. is offering for Bin Laden's capture just
isn't enough. Sure, $25 million would induce a Pakistani peasant to turn in
Bin Laden, but it's not enough to attract the financial markets to the Bin
Laden hunt. With the possibility of earning a $1 billion bounty, however,
professional Bin Laden hunting firms would form, allowing the U.S. to
enlist the efficiency and creativity of the free market in our fight
against Osama.

  

The twentieth century's economic battles between capitalism and socialism
proved that the private sector is far more effective than the government at
providing services. Unfortunately, though, for many activities such as
terrorist tracking, private companies have little incentive to engage. But
a $1 billion bounty would motivate firms to join the hunt for Bin Laden.

 

With a $1 billion reward in place, an international group of intelligence,
military and terrorist experts that could credibly claim to have, say, at
least a 5% chance of finding Bin Laden could easily raise $20 million or so
from the financial markets to finance their search. With several such
organizations unleashed on the mountains of Afghanistan and Pakistan,
Osama's margin of safety would shrink.

 

If my $1 billion free market experiment were implemented and proved
successful, the U.S. could offer very large rewards for other international
villains. Firms would then likely come into existence that specialized in
capturing different types of criminals, some, for example, going after
South American drug barons while others concentrated on Middle Eastern
terrorists.

 

I suspect that different sub-branches of the U.S. government currently
compete for the resources necessary to find Bin Laden. Given how most
public organizations operate, however, these resources probably go to the
best bureaucratic infighters rather than those with the best chance of
finding our murderous prey. The world's financial markets excel (at least
compared with governments) at picking possible winners, so we should give
them the power to determine who gets the capital needed to find Bin Laden.

 

Those who think $1 billion is too much to pay for one sick man's capture
should consider the deterrent effect of this bounty. Our government doesn't
seem to shine at locating single individuals, so if they're willing to go
into hiding, would-be terrorist master-sickos might not fear our wrath. But
knowing that a large bounty would be placed on them might give pause to a
few of our potential enemies.

 

If the billion dollar bounty failed and Bin Laden ended up being located by
the CIA or the U.S. armed forces rather than the private sector, the bounty
wouldn't cost the taxpayers anything. But it still would have sent a
powerful signal to our enemies that the massive wealth of the U.S. can be
deployed against those who strike us.

 

Many other nations don't seem to care very much about whether we catch Bin
Laden and $25 million certainly isn't enough to change their priorities.
But $1 billion would make a difference to nations like Pakistan and perhaps
motivate them to search seriously for our main enemy.

 

President Bush is reportedly ready to announce major new initiatives at his
Republican Convention. A billion dollar Bin Laden bounty would make for the
perfect convention proposal since it fuses Bush's dedication to tracking
down the 9/11 instigator with a Republican faith in the free markets.

  

James D. Miller writes The Game Theorist column for TCS and is a Republican
Candidate for the Massachusetts State Senate.

 

Editor's note: For other articles proposing free market solutions to
practical problems see:

An Anti-Terrorism Defense Fund

Doing Well Against Spam By Taking Revenge

Markets Reward Eco-Terror. So Lets Fix Them.

Airport Security


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'





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