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War and debt

By Archean
Aug 3, 2011
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  1. captaincranky

    captaincranky TechSpot Addict Posts: 10,594   +864

    Adam Smith never had to deal with social entitlements and a massive trade deficit when he offered his treatise either. Well, that and the society wide delusion that an economy can be, "service based", and still survive. Oh well, crank up the presses at the mint, and hail a passing slow boat to China on which to offload their output. Things will get better, we just need to spend more.

    BTW Archean, this isn't exactly news. European monarchs have been bankrupting their domains for centuries. Take the crusades for example; now that was a golden apogee of the glory of British tax dollars at work. (The pun on "golden" was indeed intentional. I offer no apologies for it).
  2. Archean

    Archean TechSpot Paladin Topic Starter Posts: 6,041   +72

    I know, but at least the Europeans (mostly) stopped propagating war as a solution to everything bad in the world during the last century, passing the torch to the Americans after WWII. Hence the endless expansion of the military industrial complex at staggering scale.

    You nailed the actual issue here pretty nicely there.


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