On The EconomySee also: Military keynesianism
Once a war has ended, losing nations are sometimes required to pay war reparations to the victorious nations. In certain cases, land is ceded to the victorious nations. For example, the territory of Alsace-Lorraine has been traded between France and Germany on three different occasions.
Typically speaking, war becomes very intertwined with the economy and many wars are partially or entirely based on economic reasons such as the American Civil War. In some cases war has stimulated a country's economy (World War II is often credited with bringing America out of the Great Depression) but in many cases, such as the wars of Louis XIV, the Franco-Prussian War, and World War I, warfare serves only to damage the economy of the countries involved. For example, Russia's involvement in World War I took such a toll on the Russian economy that it almost collapsed and greatly contributed to the start of the Russian Revolution of 1917.
Other articles related to "on the economy, economy":
... By the end of the war, the European economy had collapsed with 70% of the industrial infrastructure destroyed ...
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (18171862)