Ulhas Joglekar wrote:
>
> Doug Henwood wrote
>
> > >The "war on terrorism" is just the thing.
> >
> > It has enormous political effects, but it's just not expensive enough
> > - yet - to have much economically stimulative impact.
>
> Would there be considerable future economic impact, if oil price could be
> brought down to, say, $10 per barrel?
>
This discussion would probably fit better on Pen-L, because the economics (and the economic history) are pretty complex.
But (a) Didn't WW 2 revive the economy (1945 and after) by destroying so much capital rather than through the pump-priming effect of war production itself and (b) Wasn't the boom after the war due more to (1) the interstate system and all the investment (suburbs, automobiles, motels) that triggered and (2) the GI bill -- rather than to the Cold War and its Hot Spots?????????????
Carrol