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War Economy
(7,950 words)

War Economy

“War economy,” wrote the German national economist Franz Eulenburg in 1916, is “the national economy in a state of war.” This means that it does not follow its own principles, so there is no war economy. It represents rather “a quite specific modification of the general economy” that was subject to “important disturbances, direct and indirect,” because of the war. Such disturbances of the peacetime economy in production and consumption and in markets and prices,1 arose from the completely different task imposed by a war economy. The former was concerned with…

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Ullmann, Hans-Peter, “War Economy”, in: Brill’s Digital Library of World War I. Consulted online on 30 January 2023 <>
First published online: 2015

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