Iraq needs an economy, too!

I spent a couple of hours this afternoon at the Middle East Institute conference. MEI was holding a panel discussion on "Iraq in 2020," in which four panelists made wild guesses about how Iraq will look a decade from now.

I'll have a fuller write-up on the panel tonight. But for now, a quick observation: There was almost no discussion of Iraq's economy. It came up two or three times in the 90-minute discussion -- and the discussion always focused on Iraq's oil industry. There was no discussion of rebuilding Iraq's shattered manufacturing sector, or addressing problems in the agricultural sector, or trying to reverse decades of "brain drain."

Political reconciliation and security are important. But they won't do Iraq much good if they're not coupled with economic development. It's worth remembering that Iraq's per capita income today -- roughly $1,000 -- is one-third what it was three decades ago.