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The economics of defense or defense economics is a subfield of economics, an application of the economic theory to the issues of military defense. [1] It is a relatively new field. An early specialized work in the field is the RAND Corporation report The Economics of Defense in the Nuclear Age by Charles J. Hitch and Roland McKean ( [2] 1960 ...
The Economic Writings of Sir William Petty is a book with texts, written by William Petty (1623-1687), and published in 1899 by Charles Henry Hull (1864-1936), in two volumes. The Economic Writings were published together with an introduction about the life and work of William Petty , and did also contain Natural and Political Observations upon ...
Economy of force is one of the nine Principles of War, based upon Carl von Clausewitz's approach to warfare. It is the principle of employing all available combat power in the most effective way possible, in an attempt to allocate a minimum of essential combat power to any secondary efforts.
There exist nowadays several thousands of academic publications on the TRPF worldwide, both for and against. No available book provides an exposition of all the different arguments that have been made. Professor Michael C. Howard stated that "The connection between profit and economic theory is an intimate one. (...) However, a generally ...
War usually leads to a shortage in the supply of commodities, which results in higher prices and higher revenues. Regarding supply and demand in terms of economics, profit is the most important end. During war time, "war-stuff" [15] is in high demand, and demands must be met.
In response to the Economic Calculation Problem proposed by the Austrian School of Economics that disputes the efficiency of a state-run economy, the theory of Market Socialism was developed in the late 1920s and 1930s by economists Fred M. Taylor (1855–1932), Oskar R. Lange (1904–1965), Abba Lerner (1903–1982) et al., combining Marxian ...
In military operations, economic warfare may reflect economic policy followed as a part of open or covert operations, cyber operations, information operations [2] during or preceding a war. Economic warfare aims to capture or otherwise to control the supply of critical economic resources so friendly military and intelligence agencies can use ...
Therefore, the model assumes that war is the undesired outcome for both actors, and only under the correct conditions will war occur. This is different than economic or other political models of war which propose that war can have a positive net utility, or provide benefits to the victor that are greater than the losses of the defeated.