POL208Y1 Lecture Notes - War Economy

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indigochimpanzee269

23 Feb 2012

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What s ahead? y y y summary and looking forward. a source of power (we need butter to buy guns) a source of welfare (we like butter): prosperity means vs prosperity as a goal. One cannot shoot with butter but with guns. y bomb them with butter y ppf: production possibility frontier in theory, there are only two options and limited amount of resources: gives all different distributions of these two options. world wars had far reaching implication on society. social revolution created by war economy: positive effects of wartime economy. guns can lead to greater production of butter. International law: separates between goods that are part of the war effort and those which are for civilian use. How to calculate the cost of war? y direct cost: tanks, planes, bombs, personnel, damaged infrastructure. y y opportunity costs y for the usl total economic impact for the war 2002-08 . 3 trillion (compared with .

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