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The Economic Consequences of U.S. Mobilization for the Second World War
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A reminder that war is not always, or even generally, good for long-term growth
Many believe that despite its destructive character, war ultimately boosts long'Äëterm economic growth. For the United States this view is often supported by appeal to the experience of the Second World War, understood as a triumph of both production and productivity. Alexander Field shows that between 1941 and 1945 manufacturing productivity actually declined, depressed by changes in the output mix and reso...
Many believe that despite its destructive character, war ultimately boosts long'Äëterm economic growth. For the United States this view is often supported by appeal to the experience of the Second World War, understood as a triumph of both production and productivity. Alexander Field shows that between 1941 and 1945 manufacturing productivity actually declined, depressed by changes in the output mix and reso...