reply on: IMF Confirms Global Growth Forecasts Amid Potential Adjustments \ stacker news ~econ

45 sats \ 4 replies \ @Satosora 17 Jul \ on: IMF Confirms Global Growth Forecasts Amid Potential Adjustments econ

War brings even more economic growth. If a war happened to Taiwan, what would happen first?

I meant that more in a sarcastic context. War boosts industrial production and the military sector in the short term, creates an apparent job upswing, but corresponds exactly to the theory of boom and bust cycles of the Austrian School, where overcapacities are created that immediately collapse when normality sets in.

45 sats \ 2 replies \ @Satosora 17 Jul

I meant it as a truth. War does bring an overabundance of production in many sectors. There are people who want war to happen to boost their industries.

23 sats \ 1 reply \ @TomK OP 17 Jul

But war does not produce the civilian goods that we as consumers need to build prosperity. War favors a small parasitic caste, which we can identify very well today when we look at the military complex that is currently firing up in various hot spots of geopolitics.

45 sats \ 0 replies \ @Satosora 17 Jul

I realize this. I am not saying war helps people and the economy. People are grasping that they are left holding the bag while others get rich. All risk and no reward for the poorer folk.