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The Habsburg Empire in World War I: Essays on the Intellectual, Military, Political and Economic Aspects of the Habsburg War Effort (1977) Schulze, M.-S. "Austria-Hungary's Economy in World War I", in Stephen Broadberry, and Mark Harrison, eds. The Economics of World War I (2005) ch 3 pp 77–111; Wargelin, Clifford F.
The Allies had much more potential wealth they could spend on the war. One estimate (using 1913 US dollars) is that the Allies spent $58 billion on the war and the Central Powers only $25 billion. Among the Allies, the UK spent $21 billion and the US$17 billion; among the Central Powers Germany spent $20 billion.
The United States War Revenue Act of 1917 greatly increased federal income tax rates while simultaneously lowering exemptions. [1] The 2% bracket had previously applied to income below $20,000. That amount was lowered to $2,000. The top bracket (on income above $2 million) was raised from 15% to 67%. The act was applicable to incomes for 1917.
At the end of the American Civil War in 1865 about 63% of Federal income was generated by the excise taxes, which exceeded the 25.4% generated by tariffs. In 1915 during World War I, tariffs generated 30.1% of revenues. Since 1935, tariff income has continued to be a declining percentage of Federal tax income.
USA: National World War I Museum. "World War One Timeline". UK: BBC. "New Zealand and the First World War (timeline)". New Zealand Government. "Timeline: Australia in the First World War, 1914-1918". Australian War Memorial. "World War I: Declarations of War from around the Globe". Law Library of Congress.
The United States in the First World War: An Encyclopedia (1995), Very thorough coverage. Wilson, Ross J. New York and the First World War: Shaping an American City (2014). Young, Ernest William. The Wilson Administration and the Great War (1922) online edition; Zieger, Robert H. America's Great War: World War I and the American Experience 2000 ...
Stiglitz has done a lot of work on the distribution of wealth throughout economies, and how it impacts growth over time. In this video, he talks Joseph Stiglitz on Economic Growth After World War II
A war economy or wartime economy is the set of preparations undertaken by a modern state to mobilize its economy for war production. Philippe Le Billon describes a war economy as a "system of producing, mobilizing and allocating resources to sustain the violence."