War and us economy essay

Trump hosts Made in America event as trade clouds gather President keeps up trade policy pressure as many Americans feel tariff pressures; Kevin Corke reports from the White House. Mid Continent Nail Corporation quickly lost 50 percent of its orders as customers opted for cheaper suppliers. Within weeks, the firm had to lay off 60 workers.

War and us economy essay

Causes of recessions - not one mention of the wars? One of the most popular misconceptions is that wars cause recessions. In fact military spending is often a cause of rapid economic growth.

Eisenhower Jan Part of the problem is a misunderstanding of what a recession is. A recession is a period of negative economic growth - falling output, rising unemployment. Recession does not mean rising government borrowing though of course a recession, invariably leads to higher borrowing.

War and us economy essay

Wars invariably lead to an increase in government spending on military. This is usually financed by a combination of tax and government borrowing, but, mainly borrowing.

This spending creates additional demand in the economy, creating employment in armament manufacturers. In the midst of the Great Depression, the two countries who successfully reduced mass unemployment quickly were Japan and Germany - who aggressively re-armed.

There were other reasons for falling unemployment. But, the expansion of the military sector was a key factor in boosting growth and employment. The US and UK only really solved mass unemployment with the onset of the Second World War when they began a massive extension of military spending.

The Second World war was immensely costly for all parties. At the end of the Second World WarBritain was very nearly bankrupt. A loan from the US was essential to keep economy afloat. But, huge national debt is not the same as a recession. The Legacy of War on the Economy.

There are occasions when the end of a war can lead to recession. In the Napoleonic Wars, Britain had a huge increase in military spending. However, at the end of the Napoleonic wars, many soldiers were demobilised.

Combined with inflation, battered world trade and unemployed ex-soldiers the economy suffered a period of contraction and high unemployment. In this case, the prolonged wars undoubtedly contributed to this economic crisis. The economy experienced high unemployment, and periods of deflation.

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Though this was exacerbated by other issues such as the damaging alignment to the Gold Standard and the subsequent deflationary pressures. The expansion in military spending helped contribute to a decade long economic boom.

Conclusion Every case is different, but, generally wars provide a boost to domestic demand through higher military spending. The aftermath of wars is more uncertain. Making the transition from a war economy to a peacetime economy can be difficult, though there is no clearcut effect. It depends on too many variables.

Of course, none of this justifies war. Japan and Germany reduced unemployment successfully by having a totalitarian military state.

But, the same result could have been achieved from spending on hospitals and education. The problem is there is often greater political will for higher government spending and borrowing if it is fighting a war.Try Our Friends At: The Essay Store. Free English School Essays.

We have lots of essays in our essay database, so please check back here frequently to see the newest additions. TRUMPED Why China Will Lose a Trade War With Trump. Beijing can huff and puff, but America holds the high cards.

Expect the Chinese to back down quickly—or watch their economy and political. As China becomes, again, the world's largest economy, it wants the respect it enjoyed in centuries past.

But it does not know how to achieve or deserve it. When we look back someday at the catastrophe that was the Bush administration, we will think of many things: the tragedy of the Iraq war, the shame of Guantánamo and Abu Ghraib, the erosion of.

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