"Admirably comprehensive . . . The Price of Liberty shows that [Hormats] knows his history."--Niall Ferguson, The Wall Street Journal...
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Jun 30, 2009
Ryan
rated it: 
A must read for anyone who wants to understand a general history of US fiscal policy and how US wars have been financed since the country's inception.
The book was written in 2007 so much of the recent data are from 2005 and 2006, before we entered our current recession. But even in that more upbeat economic environment, Hormats painted a legitimate cause for concern with our large national debt and unwillingness to make spending sacrifices. Layer in the recession and it's even worse More...
The book was written in 2007 so much of the recent data are from 2005 and 2006, before we entered our current recession. But even in that more upbeat economic environment, Hormats painted a legitimate cause for concern with our large national debt and unwillingness to make spending sacrifices. Layer in the recession and it's even worse More...
Apr 04, 2008
Mike
rated it:
I just saw this author give a lecture with Richard Brookhiser at the New-York Historical Society, and although it was brief, the author gave an extremely cogent overview of how the U.S. paid, and is paying, for its wars. The book is engrossing and very highly recommended.
Wars are extremely expensive and destructive; it's a pity the monies spent on defense cannot be allocated elsewhere (but, I am a firm believer that defense spending is more a stimulus to the economy than simple transfe More...
Wars are extremely expensive and destructive; it's a pity the monies spent on defense cannot be allocated elsewhere (but, I am a firm believer that defense spending is more a stimulus to the economy than simple transfe More...
Aug 20, 2008
Ramberto
rated it:
This was a concise, well written, easily read history of how America pays for its wars; covering the Revolutionary War to the campaigns in Iraq and Afghanistan. The most interesting lessons drawn from all this is that engaging in war is a very expensive proposition, and that paying for the conflict is usually well considered if not acrimonious process. Most wars have been funded with a combination of raising taxes and issuing war bonds, and our tax structure today is still in many respects bas
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Jan 17, 2010
The Price of Liberty: Paying for America's Wars by Robert D. Hormats (2007)
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