The factories that produced WWII weapons ended the 1929 Great Depression

- Increase in government spending...was and remains one of the main means of market recovery during crises, recessions and economic depressions... It is the principle adopted by President Roosevelt during the Great Depression of 1929 according to the theory of John Maynard Keynes. He created broad public works projects to reduce unemployment, supported agricultural prices, reopened mortgage markets, reduced working hours and days, called for the restoration of global trade, the re-greasing (rehabilitation) of the countryside, insurance against old age and unemployment, and during his term the Social Security Act of the United States was enacted in 1935. In light of these concepts, and alongside a package of other projects, this program of President Roosevelt, which at the time was called The New Deal, helped but did not broadly solve the consequences of the Great Depression, and the manifestations of the Great Depression did not end until the early 1940s, when the United States entered the war with the Allies in World War II. Aircraft, tank and all other weapons factories began to produce to mobilize the American army and to supply the Allies with many weapons and munitions. This war employed millions of workers and employees, ended that depression, and concluded with an American economic revival that was reflected in most allied countries...!! Thus war was the curative remedy to end the depression and to operate all branches of the economy in the United States of America...That was capitalist thinking...wars create economic revival...!!

- In those days, less than a century ago, the image of capitalism and the theory of the famous economist Adam Smith, author of The Wealth of Nations in 1776, which declared that hidden forces in the market work to balance production and consumption and that governments should keep away from these market forces and let them operate without government intervention, were shaken. The occurrence of the Great Depression in 1929 undermined confidence in the virtue of embracing capitalism in light of its failure in the test of the Depression, while socialism was on the rise.!

- However, the famous economist John Maynard Keynes (Lord Keynes), one of the architects of the International Monetary Fund, presented his theory in the 1930s, in which he demanded the necessity of state intervention in the economy through the tools of economic policy: fiscal policy, whose main components are taxation and government spending, and monetary policy, where interest rates and market liquidity are other effective instruments. President Roosevelt adopted Keynes's theory of state intervention by increasing government spending and establishing projects, as we noted above. Nevertheless, this depression was only curbed by the entry of the United States of America into World War II....!

- A group of economists, such as Dr. Friedman and his colleagues (the Chicago group), who witnessed people's hesitation to accept capitalism as a pure economic theory — since people appeared unconvinced that capitalism offered optimal solutions for them in economic crises and ordinary economic life — renamed capitalism to liberal capitalism, which views some of its ideas as wide opportunities for investment in disasters. However, it wrought devastation on the peoples and economies of Latin American countries in the 1970s, intensifying the harshness and exploitation inherent in this liberalism, which, as we noted, sees any catastrophe — whether natural, war, or epidemic — as an opportunity to be exploited for investment and to gain control over economic resources while preventing the state from intervening in market forces. Subsequent crises included, as a principal one, the global financial market crisis in 2008 and its negative repercussions on the world economy.!! And now the coronavirus attacks most countries of the world in an age of globalization even in epidemics, and the economies of these countries are collapsing and signs of economic recession are appearing. Politicians in the world and the economists with them are trying to manage this crisis, whether the health aspect or its economic consequences... The International Monetary Fund announced yesterday, Monday, that the world is facing an economic recession this year, and in the same context Standard & Poor's Global — the credit rating agency — announced that 2020 is a year of economic recession with the escalation of the coronavirus epidemic and a sharp contraction in global economic growth.

- In this reality, and at the conclusion of a conference of finance ministers and central bank governors of the G20 held by videoconference (a virtual meeting) under the presidency of the Kingdom of Saudi Arabia, the President of the World Bank Group, Mr. David Malpass, confirmed today 24-3-2020, that the Bank will marshal resources — a package of assistance and facilities — amounting to $150 billion over the next fifteen months to help developing countries fight the coronavirus epidemic and recover from it. In a statement issued by the World Bank, Malpass called on the creditor countries in the group to allow the poorest countries (low-income) to suspend bilateral debt payments while they fight the virus, and Mr. Malpass added that the World Bank and the International Monetary Fund are conducting a comprehensive assessment of these poorest countries' needs in terms of reconstruction and financing. He also indicated that the World Bank is currently preparing projects for 49 countries to help fight the virus under a lending facility...and decisions are expected this week regarding up to 16 projects. In this regard he added that the Bank has consulted with China and other major countries to obtain assistance for the rapid manufacture of many medical supplies that countries need and their delivery.

- The economic effects of the coronavirus epidemic and its repercussions on the world as a whole must be arranged for and preparations made for how to control its spread and stop it and how to draw up an international approach to revive the global economy. Experts' comments regarding conjectures about the causes of the contours of the coming recession indicated that increased restrictions on interpersonal contact may lead to a deterioration in demand across sectors that could cause a collapse of global markets.

- On another front, central banks in many countries, led by the United States of America, which has the strongest economy in the world, have taken multiple measures, including a large cut in interest rates and injecting liquidity into the money markets. Attention is focused primarily on the United States and the measures it will take as the dollar is the primary and dominant currency in global markets...

- There is panic in the world over the results of the spread of the coronavirus epidemic...and what will ensue from the recession in a global market groaning under the sustainability of debts for most countries of the world...whether domestic or external debts. It is clear that no country in this world will escape the effects of this virus and its economic repercussions, even though so far the credit provided by major banks in the world at low interest rates has not succeeded in enticing consumers to borrow, while attention is fully focused on trying to treat and stop this epidemic and on addressing the shocking infections of all humanity. Economic life is almost coming to a halt in light of the feverish measures, plans and procedures to overthrow this epidemic... The current thinking, in the midst of this war against the spread of the epidemic, is: what comes after this war on the epidemic? Will another war come to remedy the consequences of a war that was imposed, whether natural or secretly manufactured...? We must prepare ourselves as peoples and states for the harshness of what is coming, with programs, plans, procedures and projects in which all sectors of society participate in solidarity and cooperation with the state and the United Nations. Although in our Arab world, it seems, we do not prepare our programs ourselves in light of what we see and hear...each Arab state says "O God, I beg You for myself"...so the texts of the Charter of the League of Arab States are no longer binding...neither ink nor paper!