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wars and catostrophes do not boost economic output. as far as the depression being ended by WWII is a false misconception. The war decreased the unemployment rate and caused the
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03-14-2011, 01:00 PM
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A True Z Fanatic
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wars and catostrophes do not boost economic output.
as far as the depression being ended by WWII is a false misconception. The war decreased the unemployment rate and caused the US growth rate to increase substantially, but only due to war spending. this spending was taken in the form of debt. our natonal debt grew from some $72b to over $250b due to war. i dont feel like getting into details, being that I am at work (as an economist)... |
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