Excerpt from The Political Economy of War
So far as I have been able to learn by personal investigation and by inquiry there is in existence no formal treatise on the Political Economy of War. This book is an attempt to fill the gap. The welcome it has received is indicated by friendly criticisms from all parts of the world and by the rapid exhaustion of the first edition. For valuable assistance and criticisms I have to thank several friends, among whom I would especially name Mr. G. P. Gooch, Mr. H. M. Williams, Mr. C. P. Sanger, Mr. J. E. Allen, Professor Edgeworth, Dr. Cannan, and my sister Miss M. E. Hirst. The second edition contains not only many corrections, additions, and modifications, but one entirely new chapter on the debts of the Balkan states and Turkey. The chapters on war debts and on the finance of the present war have been entirely revised. They contain, I believe, information not generally available, which will be of value to the City and to investors generally, as well as to those politicians and journalists who have not wholly abandoned interest in public finance.
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