Macro Musings with David Beckworth cover image

Josh Hendrickson on Economic Growth, National Defense, and US Monetary Policy

Macro Musings with David Beckworth

00:00

Defense Spending

In order to maintain and preserve level wealth, you got to have this defense spending take place. And it's hard to know for sure how big it is because of identification problems - least empirically. But i think that the people who are most interested in this work are people who have very strong ideological views about defence. The more guns we have, the less butter that we have. I mean, there is guns and butter elem into this, but you run into these sort of constraints too.

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