In the 1960s, when the peace movement called for reductions in arms spending, otherwise 'neutral' economists would say "you can't cut back on armaments without destroying the domestic economy!" As President Eisenhower had said in his farewell address, we had become dependent for our prosperity on the arms race and the "military-industrial complex" the arms race supported. So peace was an enemy not just of war, but of prosperity too!
Fast forward forty years and we hear a parallel argument today:...
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