03-14-2011, 11:47 PM
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#18 (permalink)
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A True Z Fanatic
Join Date: Jun 2009
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Quote:
Originally Posted by Econ
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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It's all a figure at the end of the day. Would you want billions of people out of work with no job or enough to go around to shut their pieholes? We are not in some primary or secondary economy, we can't self sustain without the use of debt to trade. It's just the nature of the beast.
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