Œconomia (Dec 2016)
The Costs and Finances of World War I According to Eli F. Heckscher
Abstract
Heckscher published in 1915 a book on the economics of World War I in Swedish. He analyzed the costs and the finances of war along similar lines as his contemporary Pigou (1916). Heckscher reached farther by making a distinction between the short and the long-run costs of war. He also provided a comprehensive theoretical and empirical analysis of the sources of funds for war finance, including a pioneering analysis of the inflation tax.
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