Money Doctor's sem: Diego Castañeda Garza “A Wicked War: War and the Wealth Inequality – Public Debt Nexus”

  • Datum: –17.00
  • Plats: via Zoom
  • Föreläsare: Diego Castañeda Garza (Ekonomisk-historiska inst, UU, UCBH)
  • Arrangör: Ekonomisk-historiska institutionen / UCBH
  • Kontaktperson: Anders Ögren
  • Seminarium

Money Doctor's Financial Stability (Online) Seminars

Abstract

This paper aims to contribute to the ongoing literature relating warfare to wealth inequality dynamics in the pre-industrial world. War is an eminently political event; thus, the impact of wars on inequality can be seen as an expression of the politics in society. The paper employs an unbalanced panel of wills and an event study research design to explore the wealth inequality dynamics in Mexico during the Mexican-American War of 1846-1848. The findings suggest that weak public finances and financial crisis impacted inequality through military expenditures and national debt, increasing wealth inequality. However, the formation of the fiscal-military state and its regressiveness and the levelling effect of warfare can coexist; inequality hinges on how war is financed and how destructive to capital and wealth the war is.

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Presentations are kept to 30 minutes sharp, thereafter follows a discussion of up to 45 minutes (or longer if some participants want to keep on going).

Zoom link and passcode are sent out the same day as the seminar.

Organisers: Anders Ögren (Uppsala University/UCBH) Andrés Álvarez (Universidad de los Andes), Vincent Bignon (Banque de France) and Masato Shizume (Waseda University).