How much does a military tank cost? guns and butter meaning

institutional context and sufficiently large to promote long-term conditions for full employment. Keyserling exercised behind-the-scenes power in order to convert Keynesian theory into a macroeconomic policy that would be both consistent with the U.S. This article examines the origins of what has been termed 'military Keynesianism' during the Golden Age, emphasizing the little-known leading role played by Leon Keyserling. These enormous outlays at times accounted for as much as 25 percent of gross domestic product-including their induced multiplier effects.

Neither then nor up to now has there been sufficient recognition of the key role played by military expenditures in this dynamic process.

economy demonstrated new capacities in terms of macroeconomic stability during the so-called Golden Age: recessions were brief and shallow while growth was strong, generating shared returns for the working class, a burgeoning middle class, as well as for capital-owners.

From after World War II until late 1971, the U.S.

How much does a military tank cost? guns and butter meaning