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The Price of Liberty: Paying for America's Wars from the Revolution to the War on Terror
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The Price of Liberty: Paying for America's Wars from the Revolution to the War on Terror

4.0 of 5 stars 4.00  ·  rating details  ·  18 ratings  ·  5 reviews
"Admirably comprehensive . . . The Price of Liberty shows that [Hormats] knows his history."--Niall Ferguson, The Wall Street Journal

America's first secretary of the Treasury, Alexander Hamilton, identified the Revolutionary War debt as a threat to the nation's very existence. Ever since, Hamilton's principles for securing the country through sound finances have guided lea
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Paperback, 368 pages
Published January 8th 2008 by Holt Paperbacks (first published 2007)
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Ryan
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.

In his conc
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Mike
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 transfer payments
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Ramberto
Aug 20, 2008 Ramberto rated it 4 of 5 stars  ·  review of another edition
Recommends it for: Anyone interested in public finance and policy.
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 based ...more
Brenden
The Price of Liberty: Paying for America's Wars by Robert D. Hormats (2007)
James
I'm glad I read this, but it was very technical.
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