War Finance as a Threat to Liberty


This conference examined the problems posed by war finance for a free society. How is the use of money and banking by different governments in times of fiscal crisis motivated by war? Can the issue of war financing illuminate our understanding of the limits of the size and power of the state from a classical liberal perspective?


Conference Readings

Bagehot, Walter. Lombard Street: A Description of the Money Market. Lexington: Seven Treasures Publications, 2009.

Dickson, P.G. M. The Financial Revolution in England: A Study in the Development of Public Credit 1688-1756. London: MacMillan, 1967.

Ferguson, Niall. The Ascent of Money: A Financial History of the World. New York: The Penguin Press, 2008.

Higgs, Robert. Crisis and Leviathan: Critical Episodes in the Growth of American Government. New York: Oxford University Press, 1987.

Kennedy, Paul. “American Power is on the Wane.” The Wall Street Journal (January 14, 2009): 1-3.

Mises, Ludwig von. Nation, State, and Economy: Contributions to the Politics and History of Our Time. Edited by Bettina Bien Greaves. Indianapolis: Liberty Fund, Inc., 2007.

Mises, Ludwig von. Human Action: A Treatise on Economics, Volume 3. Edited by Bettina Bien Greaves. Indianapolis: Liberty Fund, Inc., 2007.

Robbins, Lionel. The Economic Problem In Peace and War - Some Reflections on Objectives and Mechanisms. London: The London School of Economics, 1947.

Silberner, Edmund. The Problem of War in Nineteenth Century Economic Thought. Translated by Alexander H. Krappe. Princeton: Princeton University Press, 1946.

Sylla, Richard, “Shaping the U.S. financial system, 1690-1913: the dominant role of public finance” In The State, the Financial System, and Economic Modernization, edited by Richard Sylla, Richard Tilly, and Gabriel Tortella, 249-270. New York: Cambridge University Press, 1999.