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

Is There a Need for Adequate Defense?

Herwright: National defence on its own contributes to economic growth. If you can't defend your wealth, your wealth is probably going to be fleeting. He argues that if we spend all the money we're spending in war, it's not possible for us to gat substantially less and still have a good economy. Herwright: We should look at what sorts of policies and institutions would pop out of this kind of 'adequate defense'

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