“The current international security system has nearly expired “claims ANDRIY YERMAK, Ukraine’s presidential advisor in his article “The Global System Has Failed. Ukraine Is Showing the World How to Build A Better One”. World failed to remain not only the peace but stability in the EU, the region, where actually international organizations were established precisely for peace and economic cooperation.
Wars are destructive and disruptive, but for economists one of the most important point is that wars are expensive and the effect on working force, capital, resource allocation, trade, and globalization is destructive as well. Large wars constitute shocks of the not only participating countries’ economies, but the whole neighborhood and the world economy. There may occur short-term stimulation and positive aspects and long-term destruction and rebuilding, but war generally hinders economic development. There are some specific economic effects of war across historical eras we can use in analyze.Continue reading