with the exception of Jwpegler, most conservatives will admit that government spending for WWII drove economic growth.
Great, let's start WWIII and we'll all be rich.
War is a large version of the Keynesian broken window nonsense. According to the Keynesian Kooks, if someone breaks your window and that's a good thing because Pella has more work. What you don't see is that J.C. Penney has less work because the money you were saving to buy a suit now has to go to fixing the window.
War is just a big version of that.
I used to hear in the 70s and 80s that that the Japanese were kicking our butts because Japan was destroyed in WWII and therefore they were able to rebuild more modern factories. Seriously, this is what I learned in high school and college.
It's wrong. The Japanese kicked our butts because American auto companies were run by clueless idiots and staffed by fat, lazy unions members. America got too arrogant and complacent in the 20 to 30 years after WWII and we paid the price.
War is a large version of the Keynesian broken window nonsense. Someone breaks your window and that's a good thing because the Pella has more work. What you don't see is that J.C. Penney has less work because the money you were saving to buy a suit now has to go to fixing the window.
War is just a big version of that.
That is a good example. It applies to the stimulus also.
