4 ms·
25% of GDP is closer to what World War II cost in its peak year. Perhaps 30%. But it’s kinda hard to define, since it also grew GDP tremendously (in the US). I
by vundercind 3y ago
25% of GDP is closer to what World War II cost in its peak year. Perhaps 30%.
But it’s kinda hard to define, since it also grew GDP tremendously (in the US). It may have been a much higher percentage with 1945 costs measured against 1939 GDP, if that makes sense, but I’m not sure it’s appropriate to make that comparison.