“I probably would have hit 40 each year.” Those are the words of the late, great Willie Mays. He was talking about the 80 home runs he believed he would have hit if service in the Army during the Korean War hadn’t deprived him of most of the two seasons following the one in which he won Rookie of the Year.
There’s an economic angle to what happened with Mays. As in his story is a useful rebuke to the popular view among economists that war stimulates economic growth. About this view, it would be difficult to find a more dangerous, at odds with reality belief than the one that says war brings with it a growth upside.
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