How do economists view the impact of wars on the welfare of humankind?
Is War Good For The Economy?: So What About WW2 & Final Thoughts
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Business, History, Social Studies
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7th - 12th Grade
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Hard
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The video explores the transformation of the American economy from a struggling state before WWII to a thriving one after the war. It highlights the US's role as a global economic leader post-WWII, facilitated by the Bretton Woods Conference and its industrial power. The video also discusses the shift in economists' views, emphasizing that wars do not contribute to economic prosperity. Instead, it underscores the importance of economics in improving quality of life and achieving prosperity.
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What is the relationship between wars and economic prosperity according to the text?
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