"War is good for the economy." What does this statement from the text actually mean? Do you agree with the statement? Why or why not? Use relevant examples from international relations to justify your argument.

Question

What will be an ideal response?

Answer 1

The ideal answer should include:
1. Explain what the statement means. For example, some people believe that high military spending gives governments both more military capabilities for use in international conflicts and more economic growth for domestic needs (buying popular and political support in various ways).
2. Discus whether you agree with the statement or not. For example, allocating economic resources for military purposes deprives the rest of the economy and reduces its long-term growth. War not only stimulates high military spending, but it also destroys capital (people, cities, farms, and factories in battle areas) and causes inflation (reducing the supply of various goods while increasing demand for them). Governments must pay for war goods by borrowing money (increasing government debt), by printing more currency (fueling inflation), or by raising taxes (reducing spending and investment).
3. Provide an example. For instance, world military spending is 2.2 percent of the total goods and services in the world economy-about $1.7 trillion every year. Most is spent by a few big states, about 40 percent by the United States alone. World military spending is a vast flow of money that could, if redirected to other purposes, change the world profoundly and improve major world problems.
4. Offer a concise summary and effective conclusion.