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When Will the War End?


  • Stone, Richard


In 1695, when the War of the League of Augsburg was in its seventh year, Gregory King applied the principles of political arithmetic to the question: How long could England, by "greater industry," "greater frugality," and "decrease" (disinvestment) sustain the necessary war expenditure? He estimated the main heads of the national income and outlay account annually fro m 1689 through 1698 and the fall in the stock of moveable assets during 1688-95 and 1695-98, and concluded that the war could not well be continued beyond 1698; in fact it ended in 1697. His estimates are compared with analogous ones for the 1939-45 war period. Copyright 1988 by Oxford University Press.

Suggested Citation

  • Stone, Richard, 1988. "When Will the War End?," Cambridge Journal of Economics, Oxford University Press, vol. 12(2), pages 193-201, June.
  • Handle: RePEc:oup:cambje:v:12:y:1988:i:2:p:193-201

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    References listed on IDEAS

    1. Dutt, Amitava Krishna, 1984. "Stagnation, Income Distribution and Monopoly Power," Cambridge Journal of Economics, Oxford University Press, vol. 8(1), pages 25-40, March.
    2. Skott, Peter, 1997. "Stagflationary Consequences of Prudent Monetary Policy in a Unionized Economy," Oxford Economic Papers, Oxford University Press, vol. 49(4), pages 609-622, October.
    3. Gene M. Grossman (ed.), 1996. "Economic Growth," Books, Edward Elgar Publishing, volume 0, number 553.
    4. Semmler, Willi, 1987. "A macroeconomic limit cycle with financial perturbations," Journal of Economic Behavior & Organization, Elsevier, vol. 8(3), pages 469-495, September.
    5. Lavoie, Marc, 1995. "The Kaleckian Model of Growth and Distribution and Its Neo-Ricardian and Neo-Marxian Critiques," Cambridge Journal of Economics, Oxford University Press, vol. 19(6), pages 789-818, December.
    6. Michel Aglietta & RĂ©gis Breton, 2001. "Financial systems, corporate control, and capital accumulation," Post-Print halshs-00256788, HAL.
    7. Peter Flaschel & Peter Skott, 2006. "Steindlian Models Of Growth And Stagnation," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 303-338, July.
    8. James Crotty, 2005. "The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era," Research Briefs rb2003-5, Political Economy Research Institute, University of Massachusetts at Amherst.
    9. Engelbert Stockhammer, 2004. "Financialisation and the slowdown of accumulation," Cambridge Journal of Economics, Oxford University Press, vol. 28(5), pages 719-741, September.
    10. Skott, Peter, 2005. "Fairness as a source of hysteresis in employment and relative wages," Journal of Economic Behavior & Organization, Elsevier, vol. 57(3), pages 305-331, July.
    11. Skott, Peter, 1981. "On the 'Kaldorian' Saving Function," Kyklos, Wiley Blackwell, vol. 34(4), pages 563-581.
    12. Skott, Peter, 1989. "Effective Demand, Class Struggle and Cyclical Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(1), pages 231-247, February.
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