Krugman, Keynes, and war: "As the Hayek character in The Fight of the Century says in response to the claim that WWII ended the Great Depression:Wow. One data point and you’re jumping for joy
The last time I checked, wars only destroy
There was no multiplier, consumption just shrank
As we used scarce resources for every new tank
Pretty perverse to call that prosperity
Rationed meat, rationed butter… a life of austerity
When that war spending ended your friends cried disaster
Yet the economy thrived and grew faster"
Du'O.
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