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Essay / Research Paper Abstract
This 5 page paper examines the impact that war has on a country's economy. Using both past empirical evidence and economic theory the writer explains how war is usually good for an economy. The writer also considers what this may mean for the long term of prospects of the US economy following the destruction of the World Trade Centre and the subsequent war on terrorism. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEwareco.rtf
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Unformatted sample text from the term paper:
a world recession lead by the American economy. These concerns were already in place before the attacks. However, we need to consider what the long term effect of war may
be on the economy. There is a general assumption that war is bad for the economy, however, this not necessarily true, what is important in many instances, especially when an
economy is on the brink of a recession is the way that the public belief it will go. There is a well known economic phenomena in economics where the
belief of an event or movement in an economy will be determined by the actions of the people who expect it. As a result, those who expect it, take action
to avoid losses and protect their own options. However, in doing so, this may cause the event in terms of a recession if individuals expect a recession then may
start saving rather than spending money, and cutting back on normal expenditure, thus reducing the demand in the economy which result in creating or increasing recessionary pressures. This is what
appears to be happening in the United States at the present, however this is not a traditional war, and if this continues the war is likely to change the economy.
To judge what this change may be we can look to how other wars have affected the United States economy. Similar to this war we will see that they have
all been fought in territories away from the American nations, and as a result the economy hardship caused by the destruction of infrastructure is likely to remain absent in
any real aspect. In general terms, war is good for a countrys economy. In general, wars cost a great deal of money, and taxes may rise to cover these costs,
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