↳ Political Economy

May 3rd, 2019

↳ Political Economy

How Do States Pay for Wars?

An interview with Rosella Cappella Zielinski

Academic study of war in the social sciences is as old as historiography itself, and political economists have considered the economic logic of war and peace for centuries. Yet social scientists have left several questions on the financing of conflict unaddressed. In her 2017 book How States Pay for Wars, Professor Rosella Cappella Zielinski maps out a theory of war finance.

As a sub-discipline, war finance has long existed on the periphery of academic debates in International Relations. Cappella Zielinski’s book is a novel contribution to a growing field, providing the first systematic review and analysis of how states are able to float the cost war. Her overarching theory of war finance is expansive, flexible, and useful for understanding the far-reaching implications of wars past and present. Cappella Zielinski’s research sheds light on the “tools of the trade” for raising money, the balancing act between domestic political concerns and politicians’ war finance decisions, and the unexpected consequences war finance has on income inequality.

Below we discuss what first sparked her interest in war finance, the history of the sub-discipline, and the puzzles that remain to be solved.

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