Friday, June 13, 2014

TYLER COWEN DEMOLISHES HIS OWN IDEOLOGY

In this NYT opinion piece, he argues that preparing for war causes economic growth through innovation, e.g.,
Fundamental innovations such as nuclear power, the computer and the modern aircraft were all pushed along by an American government eager to defeat the Axis powers or, later, to win the Cold War. The Internet was initially designed to help this country withstand a nuclear exchange, and Silicon Valley had its origins with military contracting, not today’s entrepreneurial social media start-ups.
This means that "Big Government Spending" can do remarkable things for the economy, something that glibertarians routinely deny.

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