
Is war good for the economy?
Economics Explained
00:00
The American Economy After World War II
The purpose of an economy is to increase the standards of living for participants in that economy. And wars achieve the opposite of this. The United States was able to dictate the terms of the world economy after World War II, and this had much more to do with its economic prosperity than a war of untold destruction ever did. We all want to improve our wealth to live happier and more fulfilled lives. Wars that abide their very nature, events of massive destruction should not be confused with anything that contributes actively to increasing wealth or improving quality of life.
Transcript
Play full episode