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 5/10 Good --- www.reason.com http://www.reason.com/topics/topic/147.xml
Tuesday, April 08, 2008 --- 107 days ago http://www.reason.com/blog/show/125871.html
| Hyper-influential foreign policy intellectual establishmenteer Frederick Kagan has a long new piece in the National Review attacking, um, "hyper-sophisticates of the American foreign-policy and intellectual establishment." Or at least, the ones who aren't named Kagan . One of his rebuttals to critics of the Kagans' War is sure to win over you FDR fanboys out there: Modern economics has long understood that the notion of a one-for-one guns-versus-butter trade-off is simply wrong. A high proportion of money spent on defense goes back into the U.S. economy in the form of salaries paid to the more than 5 million Americans employed directly or indirectly by the Defense Department, and payments to the defense industry and the long and complex supply chains from which they draw their raw materials. Military spending has traditionally been a form of economic stimulus, and wars more commonly end recessions or depressions than start them. Whole Kagger here ; thanks to commenter Don for the link. And for something completely different, a reminder to check out Veronique de Rugy's cover story from reason 's May issue. Excerpt: How much money is $1 trillion? Enough to pay for the entire 1976 federal budget, adjusted for inflation. Enough to write a check for $37,500 to every Iraqi man, woman, and child. Enough to buy 169,492 Black Hawk helicopters, or 455 stealth bombers. Enough, in nominal terms, to pay for the entire fed ... |
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