Everything about War Economy totally explained
War economy is the term used to describe the contingencies undertaken by the modern
state to mobilize its
economy for
war production.
Philippe Le Billon describes a war economy as a "system of producing, mobilising and allocating resources to sustain the violence". The war economy can form an
economic system termed the "
military-industrial complex". Many states increase the degree of
planning in their economies during wars; in many cases this extends to
rationing, and in some cases to
conscription for civil purposes, such as the
Women's Land Army and
Bevin Boys in the
United Kingdom in
World War II.
Franklin D. Roosevelt said that if the Axis Powers win, then "we would have to convert ourselves permanently into a militaristic power on the basis of war economy."
In what is known as
total war, these economies are often seen as targets by many militaries. The
Union blockade during the
American Civil War is regarded as one of the first examples of this.
Concerning the side of
aggregate demand, this concept has been linked to the concept of "
military Keynesianism", in which the government's
military budget stabilizes
business cycles and fluctuations and/or is used to fight
recessions.
On the
supply side, it has been observed that wars sometimes have the effect of accelerating
progress of technology to such an extent that an economy is greatly strengthened after the war, especially if it has avoided the war-related destruction. This was the case, for example, with the
United States in
World War I and
World War II. Some economists (such as
Seymour Melman) argue, however, that the wasteful nature of much of military spending eventually can hurt technological progress.
Further Information
Get more info on 'War Economy'.
|
External Link Exchanges
Do you know how hard it is to get a link from a large encyclopaedia? Well we're different and will prove it. To get a link from us just add the following HTML to your site on a relevant page:
<a href="http://war_economy.totallyexplained.com">War economy Totally Explained</a>
Then simply click through this link from your web page. Our crawlers will verify your link, extract the title of your web page and instantly add a link back to it. If you like you can remove the words Totally Explained and embed the link in article text.
As long as your link remains in place, we'll keep our link to you right here. Please play fair - our crawlers are watching. Your site must be closely related to this one's topic. Any kind of spamming, dubious practises or removing the link will result in your link from us being dropped and, potentially, your whole site being banned. |
