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The Space Race bankrupted an already failing command economy in the USSR. However it was a massive economic boon for US capitalists, as evidenced by our aerospa

The Space Race bankrupted an already failing command economy in the USSR. However it was a massive economic boon for US capitalists, as evidenced by our aerospace and defense industries today. The great thing about defense spending is that it is almost entirely domestic. We're not running up some huge trade deficit with a foreign power. It creates millions of jobs from Florida to California.

Koshkin 8y ago
On the other hand, see https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window https://en.m.wikipedia.org/wiki/Parable_of_the_broken_window.
- garmaine 8y ago
  How does that apply here?
  - lostlogin 8y ago
    I believe the question is “does the spending result in a net benefit to society?” I’d add in a consideration of the opportunity cost.
    - garmaine 8y ago
      That’s not the broken window fallacy though.