Greetings from the Info Mazes team. We are delighted to present a fascinating book that explores the deep and often paradoxical connection between war, violence, and economic development:
“Blood and Wealth: War and Economics from the Viking Age to the Present Day” by Duncan Weldon.
This book examines how violence and warfare have shaped economies across centuries, from Viking raids to modern global conflicts. Weldon shows how wars were never only about bloodshed but also about wealth, trade, and transformation of societies.
The Viking Era – Raids as Economic Operations
Weldon begins with the Vikings and their notorious raids. He argues that these were not random acts of brutality, but highly calculated economic operations designed to plunder wealth and secure trade routes.
One striking point is how, after imposing tribute (a form of tax), Vikings often returned to spend that money in the very same regions they had looted. This paradoxically stimulated local economies by forcing production to increase.
Example: If you have $100 and are taxed $10, the solution is simple – you just create and sell something worth $10 more. In the end, you still keep your $100.
The Economics of Empires
The book also explores how great empires – Roman, Mongol, British – financed themselves and expanded through war. Conquering territories and controlling resources were not only about political dominance but also about building long-lasting economic power.
Weldon even raises a provocative question: Could Genghis Khan be considered the “father of globalization” due to the spread of technologies, trade routes, and cultural exchange under his rule?
It’s worth noting that almost all prehistoric roads were first built for armies – for horses, chariots, catapults. Only later were they adapted for trade, opening routes to places merchants alone could never have reached.
Trade and Conflicts
Another key theme is the connection between trade and war. One striking example is Spain’s conquest of the New World. The flood of gold and silver into Europe did not make Spain richer – instead, it caused inflation and long-term decline.
Meanwhile, nations like Holland and England seized the opportunity, using new trade routes to rise as major economic powers. Weldon highlights how resource wealth does not automatically translate into prosperity – it depends on how it is managed.
Financing Wars – The Rise of Financial Markets
The book dedicates significant attention to the question: How are wars paid for?
The invention of government bonds and the growth of financial markets allowed nations to wage larger and longer wars than ever before. This financial revolution permanently changed the nature of warfare, enabling states to project power far beyond their immediate resources.
Modern Conflicts and Their Consequences
In its final chapters, the book moves into the modern world. Weldon shows how states continue to use military force for economic purposes even in today’s globalized system.
The analysis forces readers to ask: Are modern wars truly different, or are they simply new variations of an ancient cycle linking violence and wealth?
A Provocative Question for Today
Weldon’s work invites us to apply these lessons to current conflicts.
Let us imagine the aftermath of the war in Ukraine:
On one side, a weakened Europe, drained by financing weapons, aid, and potentially even manpower.
On the other side, Russia, facing its own economic redirection into military production, but also expecting the return of nearly 500,000 soldiers to civilian life – men hardened by war, accustomed to violence, and struggling to reintegrate.
Who really wins in this scenario?
And whoever wins – what are they preparing for next?
Perhaps the real outcome will not be about who wins between Europe and Russia, but rather who steps in to take the biggest share of the economy. The player that fills this vacuum will push China out of international markets and attempt to crush its ambitions for global influence.
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