Burgernomics

53: Good Or Evil Doesn't Win Wars. Only Economics Wins Wars. In 110 Seconds

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  • Welcome to the latest episode of Burgernomics! Today, we delve into the harsh reality that economics, not notions of good or evil, often dictates the outcome of wars.
  • Recent developments, including Vladimir Putin allocating a staggering one-third of Russia's economic output to defense, highlight the economic dimension of modern warfare.
    • Key Points:

    1. Russia's Economic Commitment:
      • Putin directs 33% of Russia's economic output to defense, amounting to $820 billion annually, 15 times more than Australia's projected defense expenditure.
      • The move underscores the role of economic decisions in shaping military capabilities and strategies.
      • Volunteer Soldiers and Economic Incentives:
        • Russian volunteer soldiers enticed by substantial pay, earning four times the average monthly salary, will contribute to the military force.
        • Families of soldiers receive significant compensation if killed, creating a unique economic dynamic in the armed forces.
        • Labor Shortages and Economic Impact:
          • The influx of men into the army leads to severe labor shortages across Russia, affecting not only the military but also the broader economy.
          • Even penal colonies are tapped for labor, illustrating the extent of the workforce mobilization.
          • Economic Adaptability:
            • Russia's ability to redirect civilian production instantly for wartime needs contrasts with the challenge faced by market-based economies like Australia, which require years to shift supply chains to defense production.
          • Chinese Naval Power:
            • A sobering thought from The Wall Street Journal: One Chinese nuclear submarine and civilian shipyard launch more ships annually than the entire U.S. in the last 30 years, emphasizing the global economic and military landscape.
            Conclusion:

            • Economic decisions play a pivotal role in determining military success. 
            • Thank you for tuning in to Burgernomics! If you enjoyed this episode, don't forget to subscribe, leave a review, and stay tuned for more intriguing conversations. 

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              BurgernomicsBy Ross MacDowell
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