Russia’s war-driven economy is so hot that the World Bank upgraded it to a ‘high-income country’
Russia’s war-driven economy has reached scorching levels, as the World Bank has recently upgraded it to a ‘high-income country’. This may seem like a cause for celebration at first glance, with the GDP soaring due to increased military spending and production. However, delving deeper into the heart of this war economy reveals a stark truth that cannot be ignored.
In a situation where resources are funneled into the production of war machinery, the immediate boost to the economy is undeniable. But this prosperity comes at a high cost, both in terms of financial sustainability and human lives. The war economy model, reminiscent of historical instances like Fascist economies in the 1930s, is akin to a short-term diet that leads to long-term consequences.… Continue reading
John Q. Hosedrinker