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Pre War, Wartime and Keynesianism: Benefits and Drawbacks
A common perception of war and its effect on the economy is one of great optimism, yet it primarily impacts the short-term economic outlook while neglecting to take into account the long-term economic detractors associated with extended armed conflict. Throughout the twentieth century the prime example of economic prosperity as a result of war has been World War II, an event that revamped a nation involved in a prolonged period of economic depression. The war is credited with reversing record unemployment numbers, and for its increases in American industrial might, but as is the case with all wars of recent memory, long-term economic issues such as inflation arise. This is a trend that is followed in the years after World War II, the Korean War and the Vietnam Conflict to the detriment of the economy’s financial stability. While wars have a beneficial short-run effect on the economy, they often leave behind a trail......

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Approximate Word Count: 2563
Approximate Pages: 11 (250 words per double-spaced page)

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