Colonizing military history: A millennial view on the economics of war

We briefly illustrate the application of fundamental principles of economics to three episodes of military history for the second millennium AD. The periods, principles, and cases examined are, first, the European Middle Ages (1000-1300; opportunity cost; siege warfare); second, the Enlightenment and the Age of Battle (1618-1814; expected marginal costs/benefits; the decision to engage in battle); and third, the Cold War (1945-1989; substitution; France's nuclear force de frappe).