![]() In 1939, John Maynard Keynes published How to Pay for the War (reprinted in Moggridge 1972: 367-439). In principle, war might be funded in different ways-out of past savings, current taxes, borrowing (abroad or domestically), or through inflation. Bollard (2019) compares and contrasts the contributions of key economists in various belligerent countries. Biographies can illuminate individual lives, for example Skidelsky (1983, 1992, 2000) on Keynes, Smethurst (2007) on Takahashi, and Weitz (1997) on Schacht. How did economics and economists of the 1930s and 1940s contribute to war preparations and the waging of war? Surveys such as Harrison (1998) provide context. Prices and costs may be overlooked, while markets are disrupted as civilian law gives way to commands from the military, and sometimes from warlords. ![]() This column is a lead commentary in the Vo圎U Debate " The Economics of the Second World War: Eighty Years On"
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