Unformatted text preview: health care, education, and energy conserva-tion. But a frequent concern that raises doubts about the realism of such military conversion proposals is the undeniable fact that, at present, the military budget is a cornerstone of the U.S. economy. The Pentagon is a major underwriter of important technical innovations as well as a major employer. It provides good jobs—jobs that are stable and at least decently paid—to millions of Americans. Moreover, there have been important cases where war mobilization and spending have gen-erated powerful boosts to the economy. The classic case is World War II. The massive surge in military spending that followed President Roosevelt’s declaration of war after the Decem-ber 1941 Pearl Harbor attack indisputably brought the United States out of the 1930s De-...
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This note was uploaded on 11/07/2011 for the course ECON 104 taught by Professor Dolenc during the Fall '08 term at UMass (Amherst).
- Fall '08