Further thoughts

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Chapter 9 in The Economics of War, 2019, pp 184-200 from Edward Elgar Publishing

Abstract: The only victors in a war are war profiteers. Serval explanations, hypotheses and theories of war have been put forward, but all of them have an economic dimension. War may occur when a rising power challenges the incumbent hegemon, a proposition that is known as the Thucydides Trap. Some observers believe that this proposition is valid for the current state of the world to the extent that China and the United States could end up trapped by war, which is exactly what happened when Germany challenged the hegemony of Britain in the run-up to World War I. Some scholars believe that the Roman Empire collapsed for three reasons that are applicable to the current American Empire: overstretched and overconfident military, the loss of morality and fiscal profligacy.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2019
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