11 Dec 2008
Why WWII Didn’t Cause a Spending Glut: Rationing
Paul Krugman writes:
Don’t know much about history
Via Mark Thoma, Bob Hall and Susan Woodward argue against the multiplier effect of infrastructure spending by pointing out that GDP and military spending rose by about the same amount during World War II.
Um, rationing?
With the onset of World War II, numerous challenges confronted the American people. The government found it necessary to ration food, gas, and even clothing during that time. Americans were asked to conserve on everything. With not a single person unaffected by the war, rationing meant sacrifices for all.
[Bangs head against the table]
Please, not too hard.
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