-----Original Message----- From: June Zaccone <ecojmz at hofstra.edu> To: pen-l at galaxy.csuchico.edu <pen-l at galaxy.csuchico.edu> Date: Friday, March 26, 1999 9:49 AM Subject: [PEN-L:4567] military-based prosperity; was Re: Re: Re: Re: Why Kosovo
>Lynn Turgeon once pointed out that peak US output during the
>war year 1944 was not achieved again until 1952, a Korean
>War year. I could hardly believe it--there was all that
>demand for goods from those too poor to buy during the
>Depression and then prevented from buying by lack of goods
>during the war, all this backed by household assets
>accumulated during high wartime employment, along with the
>required investment. But there are the data--there was even
>a recession in 1949.
>June Zaccone, National Jobs for All Coalition, 475 Riverside
>Dr., #832, NY, NY 10115 ecojmz at hofstra.edu
>
>Doug Henwood wrote:
>> Oh I agree. And there were problems after the war - the dollar shortage
>> internationally, and domestic weakness in the U.S. economy too.
Depression
>> followed by war were necessary but not sufficient conditions for the
boom.
>> For that, it took the Marshall Plan - which itself failed to restart the
>> global machinery - followed by the Korean War and military Keynesianism.
>>
>> Doug
>
>