1. Of the major countries at war in the WW II, the US and the UK lost the least number of soldiers, only 20% of what Japan lost to 10% of what Germany lost to only 4% of what USSR lost. How did that come about? The US and the UK were the big industrial powers. Their industries re-tweaked their equipment and started producing weapon, from tanks to airplanes within weeks. It was possible only because they had industries. Those familiar with factories will know what it takes to set up a factory. The Capital goods, that is, the machinery in the factory that produces products we use, doesn’t and can’t appear out of thin air.
The COVID Pandemic
The COVID Pandemic
The COVID Pandemic
1. Of the major countries at war in the WW II, the US and the UK lost the least number of soldiers, only 20% of what Japan lost to 10% of what Germany lost to only 4% of what USSR lost. How did that come about? The US and the UK were the big industrial powers. Their industries re-tweaked their equipment and started producing weapon, from tanks to airplanes within weeks. It was possible only because they had industries. Those familiar with factories will know what it takes to set up a factory. The Capital goods, that is, the machinery in the factory that produces products we use, doesn’t and can’t appear out of thin air.