How Long Can the Islamic State Stay in Business?

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The richest terrorist group in history is financed not just by smuggling oil and selling looted antiquities. It may get as much as a billion dollars a year from taxation on individuals and businesses subject to a system of brutal enforcement. While increased bombing may deplete oil revenues, beatings and even beheadings are taking a toll on formerly middle class people. We hear about a model of governance that could threaten the sustainability of the Islamic State from the inside.