That's true, but defensive wars are much cheaper than offensive and people are more willing to fund them.

Undisciplined

Along with other irrational pursuits.

The trouble is, the game theory and living on the same rock with countries that can fund war.

jeff

econ

Hyperinflation

expatriotic

> This type of system does not work very well when countries are at war

This assumes war is a worthwhile activity. From my perspective, sound money works great with respect to war, because it makes funding it nearly impossible.