[aeternum]

I thought the Economist used to have much higher quality articles. Where is the historical analysis?

Is it more apocalyptic now than during the cold war when kids hid under their desks? Did America really win the space race because of a presidential speech or was it the apocalyptic threat that if we lose, we will all live under communist rule? Would American manufacturing have ever caught up to Germany if it weren't for the existential threat of the world wars?

Perhaps American capitalism has always thrived on fear of the apocalypse.

[wesselbindt]

America won the space race? The only milestone where the US got there first was having boots on the moon. Every other milestone (first artificial satellite, first organism in space, first man in space, first woman, first spacewalk, first craft on the moon) was achieved by the soviets first. Taking the one arbitrary milestone where the US did come in first and declare it the finish line feels weird as heck.

[Dibby053]

Well, because obviously the finish line of the space race was the Moon.

Had the Soviets declared the line on the "first woman in space", now we probably would use Soviet GPS, we would use Soviet maps of planet surfaces, we would have Soviet Mars rovers, Soviet Voyager... You get the idea.

[wesselbindt]

> Well, because obviously the finish line of the space race was the Moon.

So, this choice is not super obvious to me. If it was called the moon race or whatever, I'd get it. But in this case it just feels like making up rules after the fact to make sure you "win".

EDIT: I just realized you might be saying this sarcastically. I'm really bad at picking up on that sort of stuff, and apologize if that's the case.

[mieses]

it got silly when you wrote "first woman"

[wesselbindt]

Why?

[Dibby053]

My point is that the "space race" didn't really have a finish line, and despite early Soviet successes, the Americans ultimately took the lead. Because they sustained that momentum continuing to explore deep space, putting people on the Moon, and achieving all kinds of successes while the Soviets stalled and scrapped their programs, it's commonly understood (in the West, anyway, as Moon landing denialism is surprisingly rampant elsewhere) that the Americans won the race.

No need to apologize. In any case, I should apologize for hiding my point behind sarcasm.

/s

[Ekaros]

It is sore loser behaviour. Combined with typical fascist totalitarian terrorist state mind washing of the population it does stick. Repeat lies enough time and people actually start believing them instead of the naked truth.

[yojo]

Schumpeter is one of their columns; this is an editorial piece, not one of their news articles.

The regular stuff is still well written, IMO.

[Barrin92]

> Where is the historical analysis? Is it more apocalyptic now than during the cold war when kids hid under their desks?

the Cold War apocalypse was solely military in nature which had few implications economically, whether you get nuked or not doesn't change an investors strategy, you just assume the world doesn't end and carry on. The cold war calculus was if anything maybe the most rationally (albeit scary) period of human history, but exceptionally stable.

There is a difference between billionaires being afraid of the communists, which was of course self-serving, hysteric and at times bigoted, but the communists were at least real and had killed some few ten million people. That's a very different form of apocalyptic thinking than billionaires giving lectures on the actual Anti-Christ in the Vatican.

Economic manias happen in periods of social transformation and hot war, not cold ones. And on that front we do look a lot more like we are in the 1920s, or some bizarre 19th century evangelical revivalism period rather than the 1960s.

[aeternum]

>whether you get nuked or not doesn't change an investors strategy

I'm not sure about that, I think it would make me favor investments in science and technology, or if college age I would likely choose engineering over say art. The "Sputnik Shock" did have a cultural effect not to mention more direct methods like the National Defense Education Act.