Is war the answer to a depression?

Posted: 24 Dec 2009 01:51 AM PST

Robert Pollin: It wasn’t war that ended the 1930s Depression, it was massive government spending

Robert Pollin is Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst. His research centers on macroeconomics, conditions for low-wage workers in the U.S. and globally, the analysis of financial markets, and the economics of building a clean-energy economy in the U.S. Most recently, he co-authored the reports “Job Opportunities for the Green Economy” (June 2008) and “Green Recovery” (September 2008), exploring the broader economic benefits of large-scale investments in a clean-energy economy in the U.S. He has worked with the United Nations Development Programme and the United Nations Economic Commission on Africa on policies to promote to promote decent employment expansion and poverty reduction in Latin America and sub-Saharan Africa. He has also worked with the Joint Economic Committee of the U.S. Congress and as a member of the Capital Formation Subcouncil of the U.S. Competitiveness Policy Council.


One response

  1. I agree. The massive government spending kept America from falling apart. When the war first began, it didn’t involve the US. We just took advantage of the market opportunity to manufacture and sell War products to the British and Allies. Manufacturers fully retooled for armaments production only when the US joined the War. During the War Americans were on rations. The economic boom didn’t actually emerge until after the War when Europe required re-building and was in need of American products. I do not see a similar opportunity in the politics and world issues confronting America today. Thanks for this post and Happy Holidays!


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