Is Mandatory Military Service Actually a Good Idea?

On its face mandatory military service seems like a relic of the past. Forcing mostly young men to devote often several years of their lives to training for conflicts that haven't happened looks like a waste of resources. Those men could be building businesses or going into further study. But a strange thing emerges economically... military service only seems to take place in very wealthy and very poor countries, and in the wealthy ones, it might actually be good for the economy. But why?

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Context Matters is Produced by ‪@EconomicsExplained‬ and ‪@TheRedLinePod‬