Economist and historian Duncan Weldon delves into the fascinating links between economy and warfare. He discusses how Viking pillaging ultimately boosted medieval economies and how Spain’s influx of silver made it poorer. Weldon provides insights on Genghis Khan as a globalization pioneer and critiques the Luftwaffe's glamorization of fighter pilots. Through his book, Blood and Treasure, he articulates how war shapes economies, typically with unexpected outcomes, and reveals the complex financial histories behind conflicts from the past to the present.
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insights INSIGHT
War Creates The State
War historically created states as organized systems to extract resources through violence specialists.
States evolved as units capable of waging war and controlling agricultural surpluses from conquered populations.
insights INSIGHT
States Make War, War Makes States
States and wars have co-evolved, with states primarily existing to wage wars historically.
Early modern British state's biggest expenses were military and debt interest from previous wars.
insights INSIGHT
War Finance Shapes Modern Economy
Modern financial systems, like the Bank of England, originated to finance wars.
State taxation and national debt systems emerged from the need to fund large military conflicts.
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In this book, Jared Diamond explains why Eurasian and North African civilizations have survived and conquered others. He argues that differences in societal development arise primarily from geographical causes. The book details how agricultural societies developed immunities to deadly diseases, advanced in technology, and formed centralized political structures, ultimately leading to the conquest of other societies. Diamond also discusses the impact of germs, domesticated animals, and environmental factors on human history[2][4][5].
Blood and Treasure
Daniel Boone and the Fight for America's First Frontier
Tom Clavin
Bob Drury
Blood and Treasure tells the story of Daniel Boone, a legendary frontiersman, set against the backdrop of the brutal conflicts in 18th-century America. The book explores Boone's life and the broader historical context of the trans-Appalachian frontier, weaving together the stories of ordinary and extraordinary individuals who shaped this era.
The great illusion
Angell, Norman Sir
In 'The Great Illusion,' Norman Angell argues that the economic costs of war are so high that no nation can hope to gain from it. He contends that modern economic systems, based on trade and contract law, make war futile because conquest does not lead to economic benefits. The book refutes the common belief that military power results in greater wealth and instead posits that advanced economies can only generate value in the absence of military conflicts. Angell also discusses the psychological and moral aspects of war, emphasizing that the nature of modern capitalism makes nationalist sentiment among capitalists irrelevant. Despite its publication just before World War I, which seemed to contradict his thesis, the book remains a significant work in the field of international relations and peace studies.
Why did getting pillaged by Vikings ultimately help the economies of the Middle Ages? How did a flood of silver from conquered South America end up making Spain poorer? Was Genghis Khan the father of globalisation? And why was it a terrible idea to garland Luftwaffe fighter aces with medals and fame? In an absorbing new book Blood and Treasure: The Economics of Conflict from the Vikings to Ukraine, economist and historian Duncan Weldon explains how war shapes economies and economies shape wars… and why the consequences are usually what nobody expects.
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