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- Title
A GENERAL VIEW OF THE INSTITUTIONAL EFFECTS OF THE WAR.
- Authors
Hansen, Alvin H.
- Abstract
The article analyses the lasting effects of the war upon economic institutions in a world undergoing steady and rapid change. It is almost impossible to make such as guess and most of the times it tends to be wrong. The Russian Revolution, which transformed one of the major powers from a feudal absolutism to a highly-centralized communistic state, is one of the really momentous events in modern times. Despite all predictions to the contrary, that state has exhibited an amazing vitality, not merely in effecting the rapid industrialization of a backward, primitive economy, but also in the power it has demonstrated in war. Germany experienced a profound revolution in her balance-of-payments position. On the other hand, England's international relations were not substantially altered by the first World War. Her foreign assets were left substantially intact. Some major shifts did indeed occur in her export trade, seriously affecting textiles and coal, but traditional institutional arrangements connecting England with the outside world proceeded along established and familiar lines.
- Subjects
RUSSIA; ECONOMICS of war; GOVERNMENT financial institutions; INCOME tax; ECONOMIC history; MATHEMATICAL models of consumption; BALANCE of payments; RUSSIAN social conditions; INTERNATIONAL economic relations
- Publication
American Economic Review, 1942, Vol 32, p351
- ISSN
0002-8282
- Publication type
Article