Since the financial crisis of 2007-08, our economy has experienced a promising, be it slow, recovery. Thanks to the bold and decisive action of our fiscal and monetary officials, our stock market has risen to over 2000 following one of the worst crashes in history. Eight year after the crash, and our economy continues to show green shoots; and although this is positive, many economists are worried that we have insufficient demand to drive a full recovery and bring about another economic boom. In order to kick the economy into high gear, economists agree that we are going to need a strong catalyst.
It is has long been argued by top economists that World War II was what finally ended the great depression. After a decade of indecisive and overly cautious monetary and fiscal policy following the onset of the great depression, the US economy remained stagnant and poverty stricken. People were destitute and work opportunities were hard to come by. An aura of helplessness and resentment had swept the nation. But with the advent of the war, the country finally found it had something to unify behind, and arguably this collective excitement did much to reinvigorate the American work ethic and can-do spirit. With the increase in military spending, jobs were finally coming back, and entire industries began to develop. Many such industries, such as aerospace, still employ thousands of Americans to this day. These war-related job opportunities gave Americans valuable skills that spilled over into other industries and allowed them to start their own businesses. After a decade of apathy, Americans were finally back to work, and a new age of prosperity was born.
Putting aside for a moment the ghastly connotations of war, one has to admit that the economic benefits of World War II have been profound, and have undoubtedly contributed to the prosperity that many of us enjoy today. Many economists argue that the benefits of a moral and just war far outweigh the short term costs. It is for this reason that many economists recommend a World War III as a catalyst to finally kick-start our economy and usher in a new age of growth and innovation. A World War III would likely drive investment in AI technology and cyber security, and help to revive our manufacturing industry that has largely been outsourced to Asia. At the same time, it may help resolve conflicts with our enemies and help quell the threat of nuclear proliferation.
In summary, economies don’t just grow on their own; economic growth needs to be forced. Once the economy is in motion, it gains momentum and can continue to grow with less intervention. But when growth is too slow, force must be applied in order to avoid falling back into a recession. Our economic officials have done a fantastic job of saving our economy after the crash of 2007-08, and putting us back on the road to recovery. But in order to accelerate this growth into something more meaningful, we are going to need an event of magnificent proportions. I therefore ask that you put your prejudices aside, and consider for a moment the very real benefits of a war with our enemies; for it is only by following the advice of our economic experts that we can once again begin a new age of prosperity.