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.
