Download America’s economic way of war : war and the US economy from by Hugh Rockoff PDF

By Hugh Rockoff

How did fiscal and fiscal components make certain how the USA waged struggle within the 20th century? this significant new ebook exposes the effect of economics and finance at the questions of even if the country may still visit warfare, how wars will be fought, how assets will be mobilized, and the long term results for the yankee economic climate. starting from the Spanish-American conflict to the Gulf battle, Hugh Rockoff explores the ways that conflict offers exact possibilities for knowing the fundamental rules of economics as wars produce tremendous alterations in financial and monetary coverage and so offer a wealth of data approximately how those guidelines really paintings. He indicates that wars were extra expensive to the USA than so much american citizens detect as a considerable reliance on borrowing from the general public, cash construction and different innovations to finance America's conflict efforts have hidden the genuine price of war.

* unearths how America's present wars are financed and the way the present economic climate displays the results of previous wars
* indicates how the extremes of battle can light up the elemental rules of economics
* because the first booklet to supply an fiscal and fiscal historical past of America's twentieth-century wars, it is going to aid scholars, reporters, company humans and teachers position America's contemporary wars in Iraq, Afghanistan and Libya into historic viewpoint

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Additional info for America’s economic way of war : war and the US economy from the Spanish–American War to the Persian Gulf War

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One of the most frequently cited, and most frequently debated, effects of wars is on the status of women and minority workers. The increased demand for labor produced by wartime mobilizations and the decrease in the supply of male workers resulting from expansion of the armed forces, and (in some cases) the decreased supply of immigrant labor, leads to increases in the employment of women and minorities. The question is to what extent these temporary changes become permanent changes. Do they open opportunities in the postwar economy by changing the attitudes of employers, coworkers, and the women and minority workers themselves?

Again, it helps to consider a less emotionally charged example. When we pay $300,000 for a home, we say that is the cost whether we reduce our bank account by $300,000 or take out a mortgage at 8 percent interest for thirty years. True, the total payments are different. If we pay cash, we write a check for $300,000; if we take out a thirty-year mortgage at 8 percent, we will write checks that total about $790,000. But if we claimed that we were living in a $790,000 home because that was the sum of all the interest and principal payments we would rightly be accused of exaggerating.

1 The supply and demand for soldiers. Number of soldiers Mobilizing resources 27 from the cost involved, because a well-functioning market for substitutes evolved during the Civil War. For an economist concerned about efficiency the system of allowing draftees to hire substitutes seems eminently sensible. The draftee pays the tax directly to the substitute. If the draftee has a high income because he or she is highly skilled – Grover Cleveland is an example – the economy is more efficient than it would be if the draftee was forced to serve.

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