After WWII, the United States experienced a boom in GDP and tremendous growth in standard of living. Many historians and social studies teachers often say that war is good for the economy and they point to the economic boom following WWII. If war is so good for the economy, why is the unemployment rate in the United States 9.1? Why is GDP growing at 1.4%, far below the growth necessary to sustain employment?
Currently the U. S. is in two parts of the world fighting terrorism. I think historians have made a logical fallacy of Post Hoc. I often hear social studies teachers where I work comment that war stimulates the economy. Military personnel are not counted in the labor force so an increase in young men going into the service isn't employment. In fact many of these soldiers do not return home so productive resources are destroyed along with capital and natural resources. War moves the production possibilities curve inward, not outward.
I heard on Fox News that approximately 79% of our elected officials have not had an economics class. Without economics, I believe it would be hard to construct policy. Being an elected official is difficult, unrewarding work. An official has to balance so many variables. But when it comes to war, war does not stimulate the economy as I often hear.