Thursday, October 9, 2008

Buy out Japan

For the price of the Iraq War, we could've bought every publicly traded company in Japan at yesterday's closing price.  

The S&P Global Indices provide the best estimate of the total value of all the publicly traded companies in a nation. The 'Total Market Capitalization' of companies includes not only the value of all the shares of stock, but also any interest in the companies that may be controlled off the stock exchange by the government or other stakeholders. As of yesterday, the total market capitalization of the entire Japanese stock market is $2.95 trillion, which is less than Joseph Stiglitz and Linda Bilmes' estimate of $3 trillion for the cost of the Iraq War.


Brock said...

I think you're misreading the indices. The fourth column is "total market cap in millions", for which the value of Japan is 2,952,078.

That's 2.95 quadrillion. (Which sounds a lot more like what I'd expect for the market cap of Japan.)

I'm afraid we could only buy out 1/1000 of Japan for the price of the Iraq War.

We could buy out 30% of Iceland, though.

Neil Sinhababu said...

A trillion is a million million. Japan is worth almost 3 million million.

Brock said...

Yeah, you're right. I shouldn't comment before coffee.

The market cap of all publicly-traded Japanese companies is only 2.95 trillion $USD, though?

The market cap of Microsoft is 210 billion $USD. Microsoft's value is 7% of the value of every publicly traded Japanese company combined? Wow.

Neil Sinhababu said...

Recent financial instability was not kind to the Nikkei.