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Old 12-11-2005, 01:45 PM
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Default Re: To libertarians / Rand clones

[ QUOTE ]
Show me the calculation.


[/ QUOTE ]

First, the US did not simply print off several hundred billion dollars in cash to pay for the war; at the time, it issued bonds. Second, there is a question at the end of this post, please answer it.

Primary economic indicators:

GDP:
1939: $92B
1945: $223B

Personal Consumption Expenditures:
1939: $67.2B
1945: $119.8B

Gross Private Investment:
1939: $9.3B
1950: $54.1B

Unemployment:
1932 - 23.6%
1933 - 24.9%
1934 - 21.7%
1935 - 20.1%
1936 - 16.9%
1937 - 14.3%
1938 - 19.0%
1939 - 17.2%
1940 - 15.0%
1941 - 9.9%
1942 - 4.7%
1943 - 1.9%
1944 - 1.2%
1945 - 1.9%
(and infact many economists would claim there was negative unemployment, given both the understatement of unemployment and the large amount of labor shortages in many of our industries at the time)

Total Employee Compensation:
1939: $48.1B
1945: $123.3B

Corporate Profits:
1933: -$0.3B
1939: +$6.2B
1945: +$20.1B

Inflation:
1939: -1.2%
1945: +2.3%
Inflation then remained below +2.0 well into the 1960s.

What happened between 1939 and 1945 that made our economy so ridiculously robust?
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