Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
Depends. Part of the money for the missile shield goes to solve interesting technical puzzles that may further down lead to useful stuff. Better than buying and dropping bombs at least.

Von überall könnte das Volk, Urbrut alles Undemokratischen, Zelle des Terrors, über die gewählten Hüter von Wachstum und Wohlstand® kommen. - flatter
by generic on Fri Oct 15th, 2010 at 09:50:35 AM EST
[ Parent ]
I never claimed that military production resulted in useful things, other than military advantage. But, because that production is not consumed in a normal sense, it has the same effect, in a macro sense, as capital spending -- i.e. you are paying people for production that will not be consumed. They will spend their wages on things that are consumed. That helps the larger economy, which is largely based on production of goods and services for immediate consumption. See THE GREAT SLUMP OF 1930 by Keynes and do the little arithmetical calculation he suggests.

This used to be more effective, before consumer goods manufacturing was exported to low labor cost countries, but it would still help the domestic service based economy by providing relatively high wage jobs and injecting purchasing power into the base of the economy.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 15th, 2010 at 01:24:58 PM EST
[ Parent ]
Using the military spending to "help the domestic service based economy by providing relatively high wage jobs and injecting purchasing power into the base of the economy" is all good from a very narrow perspective.

broadening the horizon a bit, that same money could be used to fund all manner of civilization-enhancing technologies and projects, including even the arts.  with far more payback.

humanity ain't gonna advance while it keeps funding old-school death. 'specially not as the oceans die off, and the nutrient-depleted topsoil washes away.

if i had 1/100th of amurka's military budget to spend for ten years, we'd have floating windmills producing hydrogen being deployed around the world in year 11.

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin

by Crazy Horse on Fri Oct 15th, 2010 at 04:06:41 PM EST
[ Parent ]
I am certainly not advocating 'Military Keynesianism', only noting what its effects are on the economy. It would be much better to have the same money put into just about any long term social capital good.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 15th, 2010 at 05:44:50 PM EST
[ Parent ]
Better than buying and dropping bombs at least.

But they do them both at the same time. The classic Reagan get what you give motif: finance both Iran and Iraq to kill each other, hiding the addicted wife while buying and selling drugs to finance munitions prohibited by Congress, spend massive amounts of money for carriers, battleships and planes while kicking off the faux dream of missile defense.

27 years later they still have failures with beacon-blaring targets.

The only spin-off so far is a good laugh or two from the one or two comedians keeping track.

Happy Cuban Missile Crisis Anniversary.

Never underestimate their intelligence, always underestimate their knowledge.

Frank Delaney ~ Ireland

by siegestate (siegestate or beyondwarispeace.com) on Fri Oct 15th, 2010 at 01:44:18 PM EST
[ Parent ]

Display:

Top Diaries

In defense of tree-huggers

by Cyrille - Apr 18
18 comments

Budapest Metro Line M4

by DoDo - Apr 19
3 comments

Elections in Orbánistan

by DoDo - Apr 6
39 comments

An unfair test

by Cyrille - Apr 8
6 comments

Might INET be a Trojan Horse?

by ARGeezer - Mar 31
10 comments

Occasional Series