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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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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/centres/cage/manage/publications/60.2011_harrison.pdf
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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. 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.
  2. Joachim Voth & Thomas Ferguson, 2008. "Betting on Hitler: The value of political connections in Nazi Germany," Economics Working Papers 1183, Department of Economics and Business, Universitat Pompeu Fabra.
  3. Harrison, Mark & Wolf, Nikolaus, 2008. "The Frequency of Wars," The Warwick Economics Research Paper Series (TWERPS) 879, University of Warwick, Department of Economics.
  4. Philip T. Hoffman, 2011. "Prices, the military revolution, and western Europe's comparative advantage in violence," Economic History Review, Economic History Society, vol. 64(s1), pages 39-59, February.
  5. Robinson, Joan, 1972. "The Second Crisis of Economic Theory," American Economic Review, American Economic Association, vol. 62(2), pages 1-10, May.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. Johnson, Simon & Mitton, Todd, 2003. "Cronyism and capital controls: evidence from Malaysia," Journal of Financial Economics, Elsevier, vol. 67(2), pages 351-382, February.
  11. 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.
  12. Martin, Philippe & Mayer, Thierry & Thoenig, Mathias, 2005. "Make trade not war ?," CEPREMAP Working Papers (Docweb) 0515, CEPREMAP.
  13. Broadberry,Stephen & Harrison,Mark (ed.), 2005. "The Economics of World War I," Cambridge Books, Cambridge University Press, number 9780521852128.
  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. 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.
  16. Broadberry,Stephen & O'Rourke,Kevin H., 2010. "The Cambridge Economic History of Modern Europe," Cambridge Books, Cambridge University Press, number 9780521882026.
  17. 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.
  18. 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.
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