Abstract This paper explains that no aspect of the U.S. economy has remained unchanged during any given war. The author points out that the current Iraq war has positioned itself to possibly be the longest in U.S. history and hence the most expensive. The paper relates that, with more than 1 million U.S. troops in Iraq, the cost of long-term medical care and disability benefits will continue for years after the war. The paper underscores that post-war occupation and reconstruction, an inevitable factor in this conflict adds an even higher cost to the war. The author concludes that, in addition to direct costs, the Iraq war is destabilizing the economy by causing increasing oil prices, uncertainty in the credit market, inflation created by a greater demand of economic goods and services, and an increasing need to pay for the war with borrowed dollars.
From the Paper "With the increased costs of war comes a hefty interest payment on the national deficit. Joint Economic Committee (JEC) Chairman Sen. Charles E. Schumer, JEC Vice-Chair Rep. Carolyn Maloney , released a new report exposing the hidden costs of the war in Iraq. The Joint Economic Committee report entitled, "War at Any Price? The Total Economic Costs of the War" details the high hidden economic costs of the war in Iraq beyond the direct budgetary appropriations, including interest costs of borrowing these funds, lost investment, long term veteran's health care, and oil market disruptions."
Tags: world war ii, vietnam war, subprime oil uncertainty
Abstract World War II proved to be a turning point in the world's economies. While most of the world had suffered from a devastating depression in the late 1920's and 1930's, World War II proved such an impetus as to pull the world out of the soup lines and on to the battlefields. The paper shows that after the war, the United States did not need to make the long, painful adjustment from rations to recovery; this nation actually flourished during the war and with virtually no damage to the country's infrastructure, was in an ideal position to become the world's most successful post-wareconomy. The paper shows that, in contrast, the Soviet domination and forced Stalinist collectivization of Warsaw Pact countries created an atmosphere of stagnation and repression, the most horrifying example being Albania. This paper compares the best and worst postwar economies, those of the United States and Albania.
From the Paper "While the United States was clearly the best example of a booming postwar economy, having achieved unparalleled economic success which has led to the nation's current dominance as the sole superpower and largest economic power, the worst postwar economic development was perhaps suffered by Albania. During the course of World War II, the small Balkan nation had transformed from a fascist Italian possession on the other side of the Adriatic Sea to a government championing Communist ideals."
Abstract A look at how Communism penetrated the Bulgarian economy through its poorly developed economy (agriculture-oriented) during the Ottoman presence. The author analyzes how this weakened the economy even more after the war period, between the first Balkan War and the Second World War.
From the Paper "When asked about the present state of Bulgarian economy, Bulgarians talk about forty-five years of Communism as if they were forced upon the state from outside. Some people get so extreme that they equate them to the five centuries of Turkish yoke. The modest truth, however, is that outside influence came later. Before that, Bulgaria offered grounds for the development of the regime. Communism penetrated the country through its poorly developed economy (agriculture-oriented), which weakened even more after the war period between the first Balkan War and the Second World War."
Abstract In this article, the writer notes that as the war in Iraq continues, determining the effect of the war on the United States economy is somewhat difficult. In addition, the writer points out that there are several complicating factors, such as the war in Afghanistan, domestic unease with the President that is not solely linked to war-time issues and the fact that the U.S. is still struggling to recover financially and emotionally from a devastating terrorist attack, which make it difficult to isolate the war's impact on the economy. However, while long-term economic consequences cannot yet be determined, there are many short-term economic consequences that appear linked to the Iraq war. The writer concludes that the only real question left unresolved is whether an eventual total victory for the United States in Iraq would place the U.S. in the position to recoup some of the economic losses it incurred during the war.
From the Paper "Furthermore, Byczkowski pointed to some significant differences between the war in Iraq and previous wars that might keep Iraq from having a stimulating effect on the American economy. First, he pointed out that military spending was much higher in previous wars than in the Iraq war. Therefore, the full employment enjoyed during World War I, World War II, the Korean war, and the Vietnam War, would probably not be duplicated unless the Federal government was willing to commit the same percentage of resources to wartime spending. Instead, as of 2003, many economists believed that it would be better to compare the economic effect of the war in Iraq to the experience of the Gulf War of 1990, which led to a temporary increase in oil prices and a temporary decrease in consumer spending. However, there are significant differences between the Gulf War and the war in Iraq, primarily in duration and chances of success, which make this comparison dubious, at best."
Abstract This paper attempts to estimate what the real total economic cost of the Vietnam War was to the United States. The paper concludes that a reasonable estimate of the economic impact of the Vietnam War on the American economy is that an entire year's worth of productive activity was used to fight the war.
From the Paper "The Vietnam War was the defining experience for a generation of Americans. Indeed, it is arguably one of the defining experiences of America as a whole in the Twentieth Century. Its impact on the men who fought there, the men (and women) who did not, the American military in general, American society and popular culture during and following the war has been well documented. However, it was not just a life changing experience for soldiers and protestors, or a force for social change, or even an inspiration for thousands of books and dozens of movies. War is not least an economic event. In addition to being a military defeat, a political blunder and a human tragedy, the Vietnam War was also an economic disaster."
Abstract This paper explains that it is difficult to determine whether the Iraq War has been beneficial or detrimental to the U.S. economy in particular and the global economy overall. The author points out that the bias of the periodicals covering this topic tends to reduce the ability to effectively explore these issues, for the debate tends to be charged in favor of the bias held by the periodical. This paper demonstrates this bias in exploring the economic outcome of the Iraq War as presented in conservative and liberal publications.
From the Paper "The characterization of whether the Iraq War is a moral or an immoral war tends to correspond to whether the publication reporting on it reflects party-line values. The Iraq War has been roundly criticized for its role in the dissolution of security within Iraq, and the increasing lack of security within the Middle East and within countries with corresponding Muslim and Arabic beliefs. In attempting to rebuild Iraq following the official close of the war, and also in attempting to promote security within Iraq and within the surrounding countries, the ability to profit from reconstruction in Iraq has characterized much of the debate over the moral status of the Iraq War. It is difficult to determine whether the War has been beneficial or detrimental to the U.S. economy in particular, as well as the global economy overall."
Abstract This paper investigates the current status of the Afghan economy and presents opposing views on this issue. It suggests that years of war, as well as the recent involvement of America in Afghanistan, combined with religious, political and social issues have impacted the economy of the country. The paper concludes that while there has been growth in the Afghan economy, there are many problems that threaten to stifle the further growth of the economy.
Table of Contents:
Introduction
Opposing Opinions On This Issue
The Afghan Economy Conclusion
From the Paper "In fact in 2003 research revealed an increased dependency on poppy as a way for Afghans to survive. In addition the growing of Poppies has had the impact of increasing the amount of land rent, borrowing and marriage costs (Goodhand 2004). As a result desperate measures are taken to repay debts including absconding, and the premature marriage of daughters (Goodhand 2004). The article also explains that creditors are becoming more authoritarian in their approach, by kidnapping daughters and compulsory land purchases, to guarantee repayment (Goodhand 2004). The inability to repay debts has resulted in a great deal of conflict (Goodhand 2004). The author explains that an average accumulated debt per household of $1,835 was found through the research (Goodhand 2004). Many of the Farmers have two to six years to repay their debt. This means that many farmers are trapped in the opium economy for many years into the future (Goodhand 2004)."
Abstract This paper focuses on the different economic levels which were clear between the North and the South in the years before the Civil War. The writer examines the financial advantages which came with the use of slaves but how this hamper industrialization and economic growth which was rampant in the North.
From the Paper "As Americans we want to believe that our country was conceived in liberty, however, reality is that from almost the beginning America was greatly dependent on forced labor. By the early eighteenth century slavery was legal throughout America and was the primary source of labor in the South. Many of our nation's founding fathers were slaveholders. Thomas Jefferson, who wrote the Declaration of Independence, and Patrick Henry, who is famous for saying, ?Give me liberty or give me death!? were slave owners. Slavery was such a vital force eight of our first twelve presidents even owned slaves. "
Abstract This paper examines the socio-economic state of the United States prior to the Civil War. It questions whether these factors contributed to the outbreak of the war. It looks at the living standards of people comparing the city dwellers to the country and farm dwellers. It also examines the bout of technology and modernization which existed mostly in the North. The differences between the North and South are stressed and questioned for their significance in being a catalyst for the war.
From the Paper "Geographic sectionalism leading to conflicting attitudes and issues in a growing and diverse new country was the underlying and basic cause of the US Civil War. Up until the time of the Missouri debates, there was a common understanding and agreement of adherence to the principles initially joining 13 diverse colonies into the country that would be the United States. The Civil War was the culmination of four decades of intense conflict and deep-seated economic, social and political differences between the North and the South."
Abstract This paper briefly examines why estimating the cost of the Iraqi war to the United Kingdom is difficult. Direct costs by the government to finance the war and to make necessary postwar efforts are the easiest component. But, on top of this are many other secondary components such as the impact on consumer and business behavior, the effect of taxes or other fiscal measures to finance the war, and the allocation of lucrative business deals following the conflict. This paper explores these elements and concludes that Britain's economy has suffered only slightly from the effects of the war on Iraq.
From the Paper "Gordon Brown, the United Kingdom's chancellor of the Exchequer (equivalent to the U.S. Treasury Secretary), stated that he had set aside 3 billion pounds ($4.69 billion) in a special reserve to finance the war. He also earmarked another 240 million pounds ($375 million) for postwar humanitarian aid to the Iraqis and 330 million pounds ($516 million) for domestic counterterrorist measures. Analysts have surmised that the cost of the war is well within the bounds of the promised $4.69 billion limit (Jun). To finance the war, Britain is relying primarily on increasing the level of government borrowing rather than raising taxes, although it did levy additional taxes on beer, wine and cigarettes (Wendling). "
Abstract This paper examines how the war with Iraq has had many profound effects on the operating components of the national economy within the United States. It looks at how individual firms, households, and consumers have been affected by a variety of factors resulting from war. It discusses, in particular, how one of the most profound effects of the war with Iraq has been increasing oil prices and decreased consumer spending in response to such increases and the rise in unemployment. It also shows how, although the demand curve for gasoline despite increasing prices has always remained relatively static, the micro-economic impact of war with Iraq can be evidenced in consumer spending on other retail items.
From the Paper "The War with Iraq may be considered a partial cause for the growing rate of private debt or debt held by individual households (Culler, 1). Many households, facing increased layoffs and increased spending on items such as fuel, have fallen to excessive borrowing as a solution (Culler, 1). Many individual companies have also followed suit, borrowing more money to pay off debts than they can foreseeable manage. When individual households do not have the money they perceive necessary to spend, they often fall to borrowing, under the assumption that they will in the near future have the money necessary to pay back any loans incurred. However, the War with Iraq has negatively impacted many households, causing many private persons and consumers to realize they may not have the money necessary to pay back loans in the short term."
Abstract This paper presents an overview of Italian economic history, post World War II. It looks at the GDP per capita increase, the complex melding of private and public sectors and the liberalization of the Italian economy.
From the Paper "WWII has been a complex melding together of the public and private sectors. The phenomenal growth of the Italian economy post WWII is indisputable and was based on a variety of factors. Starting from the centralized economy inherited from the repressive regime of Benito Mussolini, two generations of Italians have shepherded their economy into the global market and the European Union EU. The private sector has benefited greatly from the liberalization of the Italian economy but the country continues to maintain ..."
Tags: Italy, Economy, Private, Public, Sector, World War II
Abstract This essay studies the multiple economic effects of the United States' war on Iraq. It looks at how the war has influenced the value of the dollar, the national deficit, the stock market, fuel costs, and industry, as well as how the U.S. government and the governments of other countries interpret this phenomenon and how they are currently acting on it.
From the Paper "The timing might be coincidental, or it might not be. Either way, the economy of the United States has reached its lowest depths in years at the same time that its current, conservative, wealthy administration has decided to wage war in the Middle East, specifically on Iraq. With the stock market unsteady, the dollar valued poorly against other international currencies, fuel and energy prices reaching outrageous all-time highs, the national deficit going from balanced to a debt in the billions or trillions, and the defense industry one of the only industries that is booming, it is necessary to look at how this war has affected and effected the U.S. economy."
Abstract This paper studies the post-war (2003) budget for Iraq. The paper discusses the origins of the policy, the political climate, the state of the economy, and popular public opinion at the time that enabled the policy to be introduced and enacted. The paper also explains how this policy influenced the budget and if the influences are positive or negative.
Tags: Post War budget Iraq, origins, policy, political climate, state of the economy, popular public opinion, budget, reforms or revisions
This paper examines the impact in the rise of speculative investments in unregulated Southeast Asian economies which has resulted in a global-wide financial crisis.
Abstract This paper analyzes the under-regulated stock market, real estate ventures and currency instability in the Asian economy that resulted in world-wide financial crisis. This paper explores the events in the stock markets in Thailand, Manila, Singapore and Hong Kong that were extremely profitable for a short time, only to crash soon after, leaving countless people owing billions of dollars and the economies of many Asian nations in shambles. The writer of this well-researched paper discusses how banks in the U.S. suffered greatly because of fraud in Singapore as well as in trading in derivatives, which when the various nations' economies sank, so did the value of these investments. This paper also examines the tug of war between Asian exports and imports and their impact on the American economy.
Table of Contents:
Abstract
Introduction
The Derivatives Fiasco
Japan
Asia
United States Actions and Reactions
Conclusion
Bibliography
From the Paper "A staid old British banking institution, Baring Brothers, decided to enter the Asian derivatives field, and so sent a number of young traders, including Nick Leeson, first to Indonesia, then, based on his success, to Singapore. He used this great distance from the home office to trade in his own account, using the firm's money, as well as investments from other international banks. Because of the volatility of the market (and natural disasters like the Kobe earthquake) he first made poor judgment calls which had him owing 170 million pounds (about. $225 million). At the end, he was in the red (or, rather Baring's was) in the amount of $1.5 billion. When discovered, he and his wife fled, but were eventually arrested. This one man's greedy fraud had caused Baring's to go bankrupt, and caused a ripple effect in the U.S. where similar derivatives investments turned sour."
