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Capitalism at War

  • Harrison, Mark

    (University of Warwick)

The nineteenth century witnessed the triumph of capitalism; the twentieth century saw the bloodiest wars in history. Is there a connection? The paper reviews the literature and evidence. It considers first whether capitalism has lowered the cost of war; then, whether capitalism has shown a preference for war. Both questions are considered comparatively. Neither question receives a clear cut answer, but to simplify: Yes; No.

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Paper provided by Competitive Advantage in the Global Economy (CAGE) in its series CAGE Online Working Paper Series with number 60.

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Date of creation: 2011
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Handle: RePEc:cge:wacage:60
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  1. Broadberry,Stephen & O'Rourke,Kevin H., 2010. "The Cambridge Economic History of Modern Europe," Cambridge Books, Cambridge University Press, number 9780521708388, November.
  2. Thomas Ferguson & Hans-Joachim Voth, 2008. "Betting on Hitler—The Value of Political Connections in Nazi Germany," The Quarterly Journal of Economics, Oxford University Press, vol. 123(1), pages 101-137.
  3. Harrison, Mark; Wolf, Nikolaus, 2011. "The Frequency of Wars," CAGE Online Working Paper Series 38, Competitive Advantage in the Global Economy (CAGE).
  4. Broadberry,Stephen & Harrison,Mark (ed.), 2005. "The Economics of World War I," Cambridge Books, Cambridge University Press, number 9780521852128, November.
  5. Buchheim, Christoph & Scherner, Jonas, 2006. "The Role of Private Property in the Nazi Economy: The Case of Industry," The Journal of Economic History, Cambridge University Press, vol. 66(02), pages 390-416, June.
  6. Fernandez, Raquel & Rodrik, Dani, 1991. "Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty," American Economic Review, American Economic Association, vol. 81(5), pages 1146-55, December.
  7. Philip T. Hoffman, 2011. "Prices, the military revolution, and western Europe's comparative advantage in violence," Economic History Review, Economic History Society, vol. 64, pages 39-59, 02.
  8. Andrei Markevich & Mark Harrison, 2006. "Quality, experience, and monopoly: the Soviet market for weapons under Stalin -super-1," Economic History Review, Economic History Society, vol. 59(1), pages 113-142, 02.
  9. Knight, Brian, 2006. "Are policy platforms capitalized into equity prices? Evidence from the Bush/Gore 2000 Presidential Election," Journal of Public Economics, Elsevier, vol. 90(4-5), pages 751-773, May.
  10. Martin, Philippe & Mayer, Thierry & Thoenig, Mathias, 2005. "Make Trade not War?," CEPR Discussion Papers 5218, C.E.P.R. Discussion Papers.
  11. T. Clifton Morgan & Kenneth N. Bickers, 1992. "Domestic Discontent and the External Use of Force," Journal of Conflict Resolution, Peace Science Society (International), vol. 36(1), pages 25-52, March.
  12. William P. Rogerson, 1994. "Economic Incentives and the Defense Procurement Process," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 65-90, Fall.
  13. Karaman, K. Kivanç & Pamuk, Şevket, 2010. "Ottoman State Finances in European Perspective, 1500–1914," The Journal of Economic History, Cambridge University Press, vol. 70(03), pages 593-629, September.
  14. Higgs, Robert, 1992. "Wartime Prosperity? A Reassessment of the U.S. Economy in the 1940s," The Journal of Economic History, Cambridge University Press, vol. 52(01), pages 41-60, March.
  15. Simon Johnson & Todd Mitton, 2001. "Cronyism and Capital Controls: Evidence from Malaysia," NBER Working Papers 8521, National Bureau of Economic Research, Inc.
  16. Robinson, Joan, 1972. "The Second Crisis of Economic Theory," American Economic Review, American Economic Association, vol. 62(2), pages 1-10, May.
  17. Ferguson, Thomas & Voth, Hans-Joachim, 2005. "Betting on Hitler - The Value of Political Connections in Nazi Germany," CEPR Discussion Papers 5021, C.E.P.R. Discussion Papers.
  18. Murdoch, James C. & Sandler, Todd, 1984. "Complementarity, free riding, and the military expenditures of NATO allies," Journal of Public Economics, Elsevier, vol. 25(1-2), pages 83-101, November.
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