Wars, cold or otherwise, are bad for economies, right? So why did American capitalism flourish during the early cold war period (shortly after World War II)?
I think there are several positive effects:
- Economic expansion, growth
- Wide-ranging improvements in living standards
- Breadth of access to a better life
- Low unemployment
- Decline in poverty rate
- Industrial supremacy around world
How could all this happen while a cold war was going on?
Could anyone help me identify some contributing factors?