First of all, the labor force is affected by the number of unemployed and employed workers. In standard economic models, the amount of money spent on military defense has a negative aspect on the economy, which reduces the efficiency, slows down the growth and costs the economy jobs. The unemployment rate is much higher when at war. Military’s around the world have to spend money on objects that get destroyed when used. For example, a tank that was just built in the United States of America can cost up to $7.5million each ( ASSOCIATED PRESS, 2013). This money used to build even just one tank could be used to help create jobs for the u...
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...ackers such as Iraqi forces the oil price would raise due to the fact that not enough could be supplied; which would lead to a global recession (the growth of a business is less than its long term goal) (N/A, 2014)
Even though, the economic effects on the cost of war is more negative than positive on the cost of war economically war is still needed to help balance out the macro economy. The cost of war effects the way people view the labor force and how that wars can affect the outcome of an economy, but people can also see that the cost also impacts he way we supply and demand items and different types of resources which can also be good or bad. The next time someone asks you what you think about the cost of war don’t just sit there and talk about how the death rate is so high but get more in-depth with the economic side to give them something to really think about.
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