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Reflections on Counter-Value Macro
It may be a bit morbid, but consider the targeting of missiles for a moment. One broad strategy is called counter-value; the value, of course, is people. This is the sanitized way that targeting urban centers is discussed. The alternative is counter-force, the force being the enemy's missiles. Counter-force sounds like a more humane targeting strategy, but it requires a precision that is both knowledge and capital-intensive. Counter-value targeting does not have to be very exact. Close enough may suffice. It requires fewer technological advances and is cheaper. The significance of a counter-force strike is that it ... (full story)