War what is it good for? "It’s a mistake to think World War II solved the economic “problems†of that cycle. It did put a lot of people back to work, but as you point out, it destroyed more wealth — by a geometric factor — than it created. Prosperity came in the ’50s because by the end of the war, the U.S. was the only country left with productive capacity. We were net producers of goods and in the early ’50s represented 50% of global GDP."
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