Re: war & recovery

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

The timing of this article is sort of strange.  Lebanon is a particularly diverse
society.  It suffered from both foreign invasion and an intense civil war.  The
country was devastated, but seems to have recovered quite well until a few days ago.

I did not understand Jim's reference to the slow recovery from the Civil War.  My
interpretation of the period is that the Civil War created enormous economies of
scale and a demand for labor saving devices, which unleashed an extraordinary period
of growth in the later 19th century.



--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu