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by mikeyouse
4695 days ago
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Ten years during which we enjoyed one of the most
prosperous and fiscally positive eras in modern US history.
Somewhat ironically, brought about in significant part due to the massive spending on R&D in communications and technology during the Cold War. |
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In an alternate history where government spent the same percentage of GDP without a cold war (not a huge stretch, I think, since no cold war means no red scare and presumably some higher level of survival for the political left) the amount spent on research would presumably be a lot larger.
People love to look on the bright side of military spending but it's often a case of the broken glass fallacy. You spend a lot of money either destroying property or, at best, building stuff you hope very much will sit around unused. The economic activity that looks great often has an opportunity cost.