The Economics of the Great War: A Centennial Perspective

Stephen Broadberry, Mark Harrison 06 November 2018



Table of Contents


Part I: Introduction and overview

Stephen Broadberry and Mark Harrison

1 Four myths about the Great War
Mark Harrison

Part II: Preparations for war

2 Too many smoking guns: How a conflict in the Balkans became a world war
Roger L. Ransom

3 Inequality, imperialism, and the outbreak of World War I
Branko Milanovic

4 The prewar arms race and the causes of the Great War
Jari Eloranta

5 Lessons from the financial preparations in the lead-up to World War I
Harold James

6 Endowments for war in 1914
Avner Offer

7 Short poppies: The heights of servicemen in World War I
Timothy J.  Hatton

Part III: Conduct of the war

8 World War I: Why the Allies won
Stephen Broadberry

9 Firms and the German war economy: Warmongers for the sake of profit?
Tobias A. Jopp

10 Demise and disintegration: The economic consequences of the Great War in Central Europe
Tamas Vonyo

11 Russia in the Great War: Mobilisation, grain, and revolution
Andrei Markevich

12 Neutral economies in World War I
Herman de Jong and Stefan Nikolić

Part IV: Consequences of the war

13 Walking wounded: The British economy in the aftermath of World War I
Nicholas Crafts

14 The halo of victory: What Americans learned from World War I
Hugh Rockoff

15 August 1914 and the end of unrestricted mass migration
Drew Keeling

16 Inequality: From the Great War to the Great Compression
Walter Scheidel

17 The demographic impact of the Great War: Killings, diseases, and displacements
Robert Millward

18 Europe's first refugee crisis: World War I
Peter Gatrell

19 International organisation and World War I
Patricia Clavin

20 The first great trade collapse: The effects of World War I on international trade in the short and long run
David Jacks

Professor of Economic History, Oxford University; Research Theme Leader, CAGE; Research Fellow, CEPR

Professor of Economics, University of Warwick


  • 17 - 18 August 2019 / Peking University, Beijing / Chinese University of Hong Kong – Tsinghua University Joint Research Center for Chinese Economy, the Institute for Emerging Market Studies at Hong Kong University of Science and Technology, the Guanghua School of Management at Peking University, the Stanford Center on Global Poverty and Development at Stanford University, the School of Economics and Management at Tsinghua University, BREAD, NBER and CEPR
  • 19 - 20 August 2019 / Vienna, Palais Coburg / WU Research Institute for Capital Markets (ISK)
  • 29 - 30 August 2019 / Galatina, Italy /
  • 4 - 5 September 2019 / Roma Eventi, Congress Center, Pontificia Università Gregoriana Piazza della Pilotta, 4, Rome, Italy / European Center of Sustainable Development , CIT University
  • 9 - 14 September 2019 / Guildford, Surrey, UK / The University of Surrey

CEPR Policy Research