America's Economic Way of War: War and the US Economy from the Spanish-American War to the Persian Gulf WarHow did economic and financial factors determine how America waged war in the twentieth century? This important new book exposes the influence of economics and finance on the questions of whether the nation should go to war, how wars would be fought, how resources would be mobilized, and the long-term consequences for the American economy. Ranging from the Spanish-American War to the Gulf War, Hugh Rockoff explores the ways in which war can provide unique opportunities for understanding the basic principles of economics as wars produce immense changes in monetary and fiscal policy and so provide a wealth of information about how these policies actually work. He shows that wars have been more costly to the United States than most Americans realize as a substantial reliance on borrowing from the public, money creation and other strategies to finance America's war efforts have hidden the true cost of war. |
Contents
1 A century of war | 1 |
2 The economics of war | 13 |
3 The SpanishAmerican War | 48 |
4 The PhilippineAmerican War | 70 |
5 World War I | 99 |
6 World War II | 155 |
7 The Korean War | 242 |
8 The Cold War | 260 |
Other editions - View all
America's Economic Way of War: War and the US Economy from the Spanish ... Hugh Rockoff Limited preview - 2012 |
Common terms and phrases
administration agencies aircraft Allies American amount army attack banks battle benefits Bill billion Britain British capital Civil civilian Cold War Communist Congress cost created Cuba debt deficit deflator dollars draft economic economists estimate excess profits tax expenditures exports Federal Reserve fighting Figure finance fiscal forces Germany GI Bill gold standard government bonds important income tax increase inflation interest investment Iraq Iraqi Japan July June Keynes Keynesian Korean Korean War Kuwait labor loans major March military spending monetary policy money creation munitions nation navy payments percent Persian Gulf War Philippine-American War Philippine-American wars Philippines political postwar President prewar price controls price index problem revenues Roosevelt sector soldiers Source South Korea Soviet Union Spanish-American and Philippine-American Spanish-American War strategic bombing supply synthetic rubber Treasury Truman unemployment United veterans Vietnam Vietnam War wages wartime World World War II WWII York