Military power needs to be financed and economic development is often shaped by military conflict, thus the interaction of military and economy, power and money is central to the modern world. This book provides an accessible introduction to the economics of the use of organized force, with a wide range of historical and current examples.

This Element introduces students, policy-makers, politicians, governments and business-people to this new discipline within economics. It presents the recent history of the subject and its range of coverage. Traditional topics covered include models of arms races, alliances, procurement and contracting, as well as personnel policies, industrial policies and disarmament. Newer areas covered include terrorism and the economics of war and conflict. A non-technical approach is used and the material will be accessible to both economists and general readers.

This textbook examines the economic problems of military organizations from an institutional perspective. It discusses the efficiency and effectiveness of military performance, using a capability-based conceptualization. Constitutional, historical and economic considerations complement the analysis. Neither the analysis nor the conclusions depend on any specific armed force, culture, organization, or language. On the contrary, the challenge of defense economics analysis and armed forces management is reduced to a fundamental economic problem, and solutions to this problem are offered. This book is a must-read for students, scholars and practitioners interested in a better understanding of defense economics.

Castles, Battles, and Bombs reconsiders key episodes of military history from the point of view of economics—with dramatically insightful results. For example, when looked at as a question of sheer cost, the building of castles in the High Middle Ages seems almost inevitable: though stunningly expensive, a strong castle was far cheaper to maintain than a standing army. The authors also reexamine the strategic bombing of Germany in World War II and provide new insights into France’s decision to develop nuclear weapons. Drawing on these examples and more, Brauer and Van Tuyll suggest lessons for today’s military, from counterterrorist strategy and military manpower planning to the use of private military companies in Afghanistan and Iraq. "In bringing economics into assessments of military history, [the authors] also bring illumination. . . . [The authors] turn their interdisciplinary lens on the mercenary arrangements of Renaissance Italy; the wars of Marlborough, Frederick the Great, and Napoleon; Grant's campaigns in the Civil War; and the strategic bombings of World War II. The results are invariably stimulating."—Martin Walker, Wilson Quarterly "This study is serious, creative, important. As an economist I am happy to see economics so professionally applied to illuminate major decisions in the history of warfare."—Thomas C. Schelling, Winner of the 2005 Nobel Prize in Economics

Published each year since 1959, The Military Balance is an indispensable reference to the capabilities of armed forces across the globe. It is used by academia, the media, armed forces, the private sector and government. It is an open-source assessment of the military forces and equipment inventories of 171 countries, with accompanying defence economics and procurement data. Alongside detailed country data, The Military Balance assesses important defence issues, by region, as well as key global trends, such as in defence technology and equipment modernisation. This analysis is accompanied by full-colour graphics, including maps and illustrations. With extensive explanatory notes and reference information, The Military Balance is as straightforward to use as it is extensive. The 2022 edition is accompanied by a fullcolour wall chart illustrating security dynamics in the Arctic.

This is a new analysis of the key issues facing Chinese policy makers in their approach towards Taiwan. This is one of the most tense and potentially explosive relationships in world politics. This book explains succinctly the impetus, the methods and the consequences if China is to use force, a prospect that has become greater following the return of President Chen Shui-bian to power in Taiwan for a second term in 2004. If China Attacks Taiwan shows how in reality there can be no real winner in such an eventuality and how the consequences would be dire not just for Taiwan and China, but East Asia as a whole. Whether China will use force depends ultimately on how its policy making apparatus assess potential US intervention, whether its armed forces can subdue Taiwan and counter US military involvement, as well as on its assessment of the likely consequences. Given the extremely high probability of American involvement this volume appeals to not only scholars and students working on China, its foreign policy and the security and prosperity of East Asia, but also to policy makers and journalists interested in China’s rise and its defense policy, Taiwan’s security and development, regional stability as well as US policy toward China and the East Asia region generally. This book is essential for understanding China’s efforts to achieve a ‘peaceful rise’, which requires it to transform itself into a global power not by the actual use of force but by diplomacy backed up by rapidly expanding military power. This book is an excellent resource for all students and scholars of military and security studies, Asian (China/Taiwan) studies and international relations

This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.