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Encyclopedia > War economy
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War economy is the term used to describe the contingencies undertaken by the modern state to mobilize its economy for war production. Philippe Le Billon describes a war economy as a "system of producing, mobilising and allocating resources to sustain the violence". The war economy can form an economic system termed the "military-industrial complex". Many states increase the degree of planning in their economies during wars; in many cases this extends to rationing, and in some cases to conscription for civil purposes, such as the Women's Land Army and Bevin Boys in the United Kingdom in World War II. A state is an organized political community occupying a definite territory, having an organized government, and possessing internal and external sovereignty. ... An economic system is a mechanism which deals with the production, distribution and consumption of goods and services in a particular society. ... The term military-industrial complex usually refers to the combination of the U.S. armed forces, arms industry and associated political and commercial interests, which grew rapidly in scale and influence in the wake of World War II, although it can also be used to describe any such relationship of... A command economy is an economic system in which government decisions are made by central state economic managers who determine what sorts of goods and services to produce and how they are to be priced and allocated, and may include state ownership of the means of production. ... Rationing is the controlled distribution of resources and scarce goods or services: it restricts how much people are allowed to buy or consume. ... The Womens Land Army was an organisation created in World War II in the UK to work in agriculture. ... A Bevin Boy was a man conscripted to work in the coal mines of the United Kingdom, from December 1943 until the end of World War II. Chosen at random from among the conscripts, nearly 48,000 Bevin Boys performed vital but largely unrecognised service in the coal mines, many... Jump to: navigation, search World War II was a truly global conflict with many facets: immense human suffering, fierce indoctrinations, and the use of new, extremely devastating weapons such as the atom bomb World War II, also known as the Second World War, was a mid-20th-century conflict that...


Concerning the side of aggregate demand, this concept has been linked to the concept of "military Keynesianism", in which the government's military budget stabilizes economic business cycles and fluctuations and/or is used to fight recessions. In economics, aggregate demand is the total demand for goods and services in the economy (Y) during a specific time period. ... Military Keynesianism is a government economic policy in which the government devotes large amounts of spending to the military in an effort to increase economic growth. ... An abstract business cycle The business cycle or economic cycle refers to the ups and downs seen somewhat simultaneously in most part of an economy. ... A recession is usually defined in macroeconomics as a fall of a countrys real Gross Domestic Product in two or more successive quarters of a year. ...


On the supply side, it has been observed that wars sometimes have the effect of accelerating progress of technology and industry to such an extent that an economy emerges greatly strengthened after the war, especially if it has avoided the war-related destruction. This was the case, for example, with the United States in World War I and World War II. Some economists (such as Seymour Melman) argue, however, that the wasteful nature of much of military spending eventually can hurt technological progress. The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ... Origins of theory According to Czech philosopher Radovan Richta, in his 1967 publication “Man and Technology in the Revolution of Our Day”, technology (which he defines as “a material entity created by the application of mental and physical effort to nature in order to achieve some value”) evolves in three... Jump to: navigation, search World War I was primarily a European conflict with many facets: immense human sacrifice, stalemate trench warfare, and the use of new, devastating weapons - tanks, aircraft, machineguns, and poison gas. ... Jump to: navigation, search World War II was a truly global conflict with many facets: immense human suffering, fierce indoctrinations, and the use of new, extremely devastating weapons such as the atom bomb World War II, also known as the Second World War, was a mid-20th-century conflict that... Seymour Melman (born December 30, 1917 in New York City; died December 16, 2004 in Manhattan of an apparent aneurism) was a professor emeritus of Columbia Universitys Fu Foundation School of Engineering and Applied Science[1] who wrote extensively for fifty years on economic conversion, the ordered transition from...


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War economy - Wikipedia, the free encyclopedia (250 words)
War economy is the term used to describe the contingencies undertaken by the modern state to mobilize its economy for war production.
Many states increase the degree of planning in their economies during wars; in many cases this extends to rationing, and in some cases to conscription for civil purposes, such as the Women's Land Army and Bevin Boys in the United Kingdom in World War II.
On the supply side, it has been observed that wars sometimes have the effect of accelerating progress of technology and industry to such an extent that an economy emerges greatly strengthened after the war, especially if it has avoided the war-related destruction.
  More results at FactBites »

 
 

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