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When Will the War End?

Richard Stone

Cambridge Journal of Economics, 1988, vol. 12, issue 2, 193-201

Abstract: In 1695, when the War of the League of Augsburg was in its seventh year, Gregory King applied the principles of political arithmetic to the question: How long could England, by "greater industry," "greater frugality," and "decrease" (disinvestment) sustain the necessary war expenditure? He estimated the main heads of the national income and outlay account annually fro m 1689 through 1698 and the fall in the stock of moveable assets during 1688-95 and 1695-98, and concluded that the war could not well be continued beyond 1698; in fact it ended in 1697. His estimates are compared with analogous ones for the 1939-45 war period. Copyright 1988 by Oxford University Press.

Date: 1988
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Handle: RePEc:oup:cambje:v:12:y:1988:i:2:p:193-201