Thursday, September 24, 2009

Guns and Butter

Sounds slightly unappetizing doesn't it? Not exactly an entree I would serve to guests.
I decided to research the history of the economic term "Guns and Butter".
This term was coined when William Jennings Bryan resigned s President Wilson's secretary of state. At the outbreak of WWI Chile was the world's priniple exporter of nitrates for gun powder, Chile stayed neutral during the war and fufilled almost all of America's nitrate needs.
A substantial portion of the United States population was opposed to the war, and Bryan joined the anti-war campaigns. The national defense act of 1916 directed "the Secretary of Agriculture to manufacture nitrates for fertilizers in peace and munitions in war at water power sites designated by the President". This was presented by the news media as "guns and butter." Guns representing arms and buter as consumer goods.

Famous quotations using Guns and Butter include;

Joseph Goebbels -"We can do without butter, but, despite all our love of peace, not without arms. One cannot shoot with butter, but with guns."

Herman Göring -"Guns will make us powerful; butter will only make us fat"

Margaret Thatcher-"The Soviets put guns over butter, but we put almost everything over guns."

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