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My read of each of your points is that they are about manufacturing capacity (1. in the past, 2. in the present, 3. its inputs.) rather than about finance. All
by pjmorris 2y ago
My read of each of your points is that they are about manufacturing capacity (1. in the past, 2. in the present, 3. its inputs.) rather than about finance. All of these things are valuable or necessary independent of their financing. In a war situation, finance may not be a substitute for acquiring them.
I like your "machine that builds the machine", I think that's actually the point I was driving at in the original post. Finance can accomplish much, but, at least during war, it is not a substitute for the physical economy.