In this article Nobel Prize winner Joseph Stiglitz argues that war is bad for the economy, and arguments to the contrary are “nonsense.”
“War is widely thought to be linked to economic good times. World War II is often said to have brought the world out of the Great Depression, and war has since enhanced its reputation as a spur to economic growth. Some even suggest that capitalism needs wars, that without them, recession would always lurk on the horizon.
Today, we know that these propositions are nonsense.”