Financing Armed Conflict, Volume 2: Resourcing US Military by Thomas M. Meagher

By Thomas M. Meagher

This moment a part of a two-volume sequence examines intimately the financing of America’s significant wars from the Spanish-American conflict to the Vietnam struggle. It interweaves analyses of political coverage, army technique and operations, and battle finance and monetary mobilization with examinations of the occasions of America’s significant armed conflicts, providing worthwhile case stories for college students of army heritage and spending coverage, policymakers, army comptrollers, and officials in training.

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However, neither mercenary nor aristocratic leaders were military professionals within the strict sense of the word. ”70 Over time, European officer corps became increasingly professionalized although entre to their ranks depended largely on their birth status, wealth, and political stat­ ure, although this differed from country to country. The establishment of military and naval academies further fostered this professionalization; in addition to basic military education, officers were now afforded the opportunity to received specialized training in such field as engineering and artillery.

60 An equally important aspect of traditional financial warfare has been the control of foreign exchange without which an adversary cannot pay its war related bills. For nearly four centuries, the British pound had been the reserve currency of choice in the international financial system; World War One marked a turning point. In the end, the war cost some nine mil­ lion soldiers their lives, wiping out an entire generation of young men, forever altering the political landscape of Europe, and setting the stage for an even more catastrophic conflict little more than twenty years later.

Determining that cost is critical to the options that may or may not be pursued in light of constrained resources. S. STRATEGIC RESOURCING CULTURE 33 country willing to devote to this objective. ”86 EPW in this case is referring to a market or hybrid economy. But while a country may have an EPW, several questions remain regarding intent. For example, while a country may have a strong economy, can this capability be quickly con­ verted into arms production? Second, if a country has the ability to produce war related material, does it possess the willingness do so, in other words, by reducing the resources otherwise intended for civilian production?

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