The United Kingdom: ‘Victory at all costs’

The economics of World War I: an overview

“…In principle, some of the government spending on the war effort, which is included negatively as a direct cost by Bogart (1920) should actually enter positively in the national balance sheet, contributing to intangible physical capital in the form of cumulated research and development spending and to intangible human capital in the form of spending on health and mobility. However, in practice, Broadberry and Howlett (1998) found that these effects were very small even during World War II. During World War I, these positive effects were difficult to discern at all in the British case.…”

“…This is an issue which can be addressed in the national balance sheet approach. Broadberry and Howlett (1998) provide an accounting framework for evaluating the long run impact of war on wealth, which is based on national balance sheets. The first important distinction is between stocks and flows in the system of national accounts.…”

The United Kingdom during World War I: business as usual?

“…In addition to forming a basis for the international comparison of the major combatant countries during World War I, which is the main aim of this book, this chapter also provides the material for a contrast between the British war efforts during the two World Wars, since the framework draws heavily on our earlier study of World War II (Broadberry and Howlett, 1998;2003).…”

Does military pressure boost fiscal capacity? Evidence from late-modern military revolutions in Europe and North America

“…For instance, Fontvieille (1976) concluded that the two World Wars did not gave place to higher public expenditures in France once military spending and war-related costs are excluded from the accounts. Similarly, Broadberry and Howlett (1998) argued that the Second World War did not bring about major increases in social expenditures in Great Britain, while Broadberry and Harrison (2005) conclude that the First World War did not end up with major increases in civilian expenditures (once debt services are excluded).…”