Of course, this is no surprise to those familiar with basic economics—but it may come as a surprise to Tyler Cowen and Paul Krugman, NYT columnists and “public intellectuals,” who have argued (here and here) that “major wars” promote economic stability and prosperity.
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
