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Losing World War One would have meant a change in our aristocracy and possibly our language. I doubt if multilingual Shakespeare would have been rolling about too much in his grave.
World War Two is a war we would all have fought and died in given that we now know what the Nazis were up to. However what is clear to us now was far from clear to those who served their country back then.
With our huge debts, our depleted mines and forests and our ever-rising population explosion you could argue that invasion by a richer foreign power, prepared to take on our huge debts, might benefit the man on the street more than going off to war.
I think we, post the Blair wars, have realised that patriotism is a form of emotional political manipulation that often achieves the opposite result to that promised by the politicians. e.g. Iraq, Afghanistan, the Falklands, even Gibraltar.
So what is the point?