Ludwig von Mises: Prosperous War
on Thursday, February 3, 2011Ludwig von Mises Money Quotation saying there is no question that some businesses and industries benefit from war spending on the cost of battle hardware and logistic supplies – but society loses in lives. Ludwig von Mises said:
“War prosperity is like the prosperity that an earthquake or a plague brings” — Ludwig von Mises
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In this quote, Ludwig von Mises is drawing an analogy between war prosperity and prosperity brought on by disasters like earthquakes or plagues. His interpretation is that any economic activity and growth stimulated by war is not true or sustainable prosperity, but is more similar to a temporary increase seen during or immediately after a catastrophic event.
Just as rebuilding after an earthquake or outbreak ends, so too would war-fueled growth decline once the war concludes and destruction ends.
The underlying message seems to be that war is disruptive and destructive, and any prosperity it brings is artificial and not long-lasting, akin to a boom after a natural disaster rather than a result of free market growth and productivity.