bogus comments on Open Thread, September 15-30, 2012 - Less Wrong

7 Post author: OpenThreadGuy 15 September 2012 04:41AM

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Comment author: bogus 22 September 2012 02:06:51PM *  0 points [-]

Also, is it true, as claimed in the article, that WW2 got the US out of the Great Depression? This has never seemed plausible to me (get richer by doing a huge amount of non-productive work?), and wars don't usually seem to be great for the economy.

It's sort-of plausible, because the GD was due to a severe shortfall in overall nominal expenditure wrt. the prevailing level of prices and wages. The original cause of this shortfall was a series of mistakes in monetary policy; however, increased deficit spending in WW2 could have made up for it.