Will the air campaign defeat Islamic State?

by Gavin Don The Islamic State is not yet a state (imagine IS at the UN) but I was working yesterday on economic and oil forecasts for Iraq and Syria, and the thought struck me that although IS is not a state, its economy is larger than many actual states. Consider.  IS has sliced  approximately 5 million Iraqis and probably another 5 million Syrians out of the economies of Iraq