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

  • Dec 12 2023
  • Length: 3 mins
  • Podcast

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

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  • Summary

    • 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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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