Economics of war Research Paper Example | Topics and Well Written Essays - 2000 words

Economics of war - Research Paper Example The causes of war have been different over the years and so have been their consequences. While come believe that wars are wrong no matter why they are caused and what is gained out of them; others believe that all’s well that ends well. But wars have never ended in good only. When it has resulted in a power fight and one nation seems to have won it, it has also lost the blood of many of its dedicated soldiers and other innocent nationals of its area. These days, almost every nation is equipped with nuclear weaponry making wars more deadly than ever. The first nuclear attack in the world was on Nagasaki and Hiroshima at the time of the end of World War 1. It marked the end of these cities and the civilizations that nurtured there. With the years going by, nuclear weaponry has only improved, thereby, indicating that now if one nation decided to blow up another using its nuclear power, it most likely to destruct a large part of the globe (Poast, 115). Indeed, the loss will be mu ch greater in emotional, financial and earthy sense than anyone can imagine. This is why it is very important for nations to carefully understand the economics of war before indulging themselves in such an activity. We are here not only to conquer places and make money but also to learn to live in harmony with each other. Every nation, color, creed and civilization is different from the other but this is no excuse for a war, we need to understand and accept these differences and in fact cherish them (Walzer, 200). Economics of war The most fundamental concept of Economics is of opportunity cost. Opportunity cost is the cost of what we forgo for what we gain or hope to gain from anything that we consume or purchase or decide about. For example, if a nation wishes to indulge in a war with another nation, it needs to first evaluate what it may gain. It may achieve success, money, land, power, slaves etc. it also needs to evaluate what it may lose in the process. And it may lose all tha t it may gain in addition to the lives of many innocent people. Also, it would waste its time and resources which may have been put to better use otherwise(Arnson, 45). Thus this evaluation of economics of war is essential for all the nations today. Any nation that decides to posing a war without thinking of its consequences will be doing more harm to itself and the world than it can imagine. Wastage of scarce resources The world is full of scarce resources. We need to use them very carefully or we will deprive ourselves and our coming generations of blessings like electricity, locomotives and other machines that make our lives much easier. Wars on the other hand require a lot of resources, a lot more than we can otherwise imagine consuming in the same time frame. Thus, when indulging in warfare, a country needs to be sure what it is at the risk of losing. Weaponry is expensive so is fuel that is used to drive large tanks and nuclear weapons and missiles are very expensive and destr uctive. A country may very well use the economic resources that it plans on warfare to improving its own nation’s industries, roads, parks and other national amenities thereby improving the living standard of its nationals (Egnal, 314). The world is a global village. We all live in a very interrelated surrounding. The ecosystem is balanced because one thing supports the other. It is all like a large heap of books, one on the other. The war may be a blow