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Source link: http://archive.mises.org/11720/featured-on-itunes-u-the-costs-of-war/

Featured on iTunes U: The Costs of War

February 23, 2010 by

'Costs of War' on iTunes U

{ 7 comments }

Keynes February 23, 2010 at 9:34 pm

War is good for the economy. War boosts GDP and aggregate demand and decreases unemployment. War makes everyone richer.

Rothbard February 23, 2010 at 9:41 pm

War is bad except when Soviets or Confederates do it.

Murray N. Rothbard February 23, 2010 at 10:03 pm

“My own view of war can be put simply: a just war exists when a people tries to ward off the threat of coercive domination by another people, or to overthrow an already-existing domination. A war is unjust, on the other hand, when a people try to impose domination on another people, or try to retain an already existing coercive rule over them.”

Keynes February 23, 2010 at 10:06 pm

No, war is good except when those people do it. Actually it’s good even when those people do it, because war is good for the economy. My general theory proves that government spending turns the zero-sum free market into a positive-sum game. The rich get richer and the poor get poorer in a free market, so the government must step in and set up a counterfeiting monopoly owned by the Rothschilds to bail out rich people. Gold is evil, so money should be backed by the threat of extortion of real goods and services (legal tender laws + the income tax). An infinite amount of money can be printed without causing price inflation, since it can all be backed by claims on an infinite future income. An IOU for all the silver in the universe would not be worth face value in a free market, so the government should step in and declare that to be its value.

Keynes February 23, 2010 at 11:54 pm

“War boosts GDP and aggregate demand and decreases unemployment.”

Heh.

Building a giant artificial mountain made entirely of rubber dog crap would also boost GDP and aggregate demand and decrease unemployment. Let’s do it!

PEZ February 24, 2010 at 3:11 am
Ned Netterville February 24, 2010 at 4:37 pm

One of the most egregious myths created and spouted by economists, including the unrepentant Keynesian at the NY Times, is the utter nonsense that the Great Depression in America came to an end with the entry of the United States into World War II. Now because Keynesians kneel at the alter of K’s indefinable “full employment,” the draft, the millions of new jobs making stuff fit only for killing, the destruction of capital, and the reduction in the workforce by means of military casualties, the War did end the Depression as far as Keynesian are concerned. But for economists who look at war in terms of all of its costs, including the loss of lives, loss of capital, rationing of consumer goods, diminished opportunities, etc., etc., etc., the Great Depression didn’t end with World War II. For many people, both the economy and their lives were much worse during the War than the Depression, particularly for those who were injured or died in combat.

Of course the number one casualty in war is Truth. in the presence of which war cannot survive.

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