Ronald Max Hart-
well, in The Cato Journal (Spring 1981),
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Wars and the taxes that financed them struck many late 18th-century Englishmen and economists-as well as later historians-as drags on economic growth during the Industrial Revolution. In fact, contends Hartwell, an Oxford historian, the economic benefits of taxation and military spending outweighed their costs.
England's Industrial Revolution roughly coincided with the Napole-...