Does the U.S. Economy Need War to Survive?

Modern Monetary Theory (MMT) is often discussed with the idea of 'limitless reserve,' where the government simply prints more money. Critics argue that this can lead to uncontrolled inflation, making the economy unstable and potentially unsustainable. However, this article explores a different perspective: the role of the military in shaping the U.S. economy and whether war is necessary for its continued prosperity.

The Hollowing Out of the American Economy

There appears to be a 'hollowing out' of the American economy, where important economic sectors are eroded. According to critics, this hollowing out might be driven by a plan to shift the costs of economic recovery and stability to future generations. The Military Industrial Complex (MIC) plays a significant role in this, with many contractors profiting from war-time contracts. Politicians who authorize these contracts often have interests tied to the industry, leading to ethical dilemmas.

The Political Landscape and War Profits

The Biden administration has been criticized for focusing on the conflict in Ukraine, glossing over the impact of the war on other countries like Israel. For instance, Biden's speech during the Mideast conflict was heavily criticized, with only a brief mention of Israeli casualties and extensive discussion of the Ukraine war.

Critics suggest that checking the "Pelosi Investment Tracker" can reveal if key political figures like Nancy Pelosi have investments in the MIC. This is particularly relevant given that multiple high-profile Republicans, such as Mitch McConnell and Lindsey Graham, have been linked to military-related interests. These individuals benefit immensely from a state of constant conflict and instability.

The Paradox of Peace and Strength

There is a paradox in the phrase 'peace through strength,' often used to justify ongoing military expenditure. This phrase suggests that the U.S. requires a strong military presence to ensure peace. However, the data tells a different story. For instance, the Pentagon's budget, despite being substantial, accounts for less than other government outlays such as those for health and social services. Furthermore, the share of this budget in the total federal spending continues to decline.

The Myth of War for Economic Prosperity

The idea that war is necessary for economic prosperity is an outdated notion, often embraced by the far left. Critics argue that armament expenditure is not a productive use of government resources. The costs of wars in places like Vietnam and Afghanistan have hindered economic progress. It is crucial to note that the U.S. is not currently engaged in any combat operations, yet the economy continues to perform well.

The key takeaway is that peace and prosperity can coexist. While the U.S. military plays a critical role in national security, it is essential to question the role of war in economic stability and growth. Ensuring that government resources are allocated in a way that fosters long-term economic health and social well-being is the true path to prosperity.