Bankrupting The Enemy

Award-winning author Edward S. Miller contends in this new work that the United States forced Japan into international bankruptcy to deter its aggression. While researching newly declassified records of the Treasury and Federal Reserve, Miller, a retired chief financial executive of a Fortune 500 resources corporation, uncovered just how much money mattered. Washington experts confidently predicted that the war in China would bankrupt Japan, not knowing that the Japanese government had a huge cache of dollars fraudulently hidden in New York. Once discovered, Japan scrambled to extract the money. But, Miller explains, in July 1941 President Roosevelt invoked a long-forgotten clause of the Trading with the Enemy Act of 1917 to freeze Japan s dollars and forbade it to sell its hoard of gold to the U.S. Treasury, the only open gold market after 1939. Roosevelt s temporary gambit to bring Japan to its senses, not its knees, was thwarted, however, by opportunistic bureaucrats. Dean Acheson, his handpicked administrator, slyly maneuvered to deny Japan the dollars needed to buy oil and other resources for war and for economic survival. Miller's lucid writing and thorough understanding of the complexities of international finance enable readers unfamiliar with financial concepts and terminology to grasp his explanation of the impact of U.S. economic policies on Japan. His review of thirty-seven studies of Japan's resource deficiencies begs the question of why no U.S. agency calculated the impact of the freeze on Japan's overall economy. His analysis of a massive OSS-State Department study of prewar Japan clearly demonstrates that the deprivations facing the Japanese people were the country to remain in financial limbo buttressed its choice of war at Pearl Harbor. Such a well-documented study is certain to be recognized for its significant contributions to the historiography of the origins of the Pacific War.

When does a reigning great power of the international system supplement military containment of a challenging power by restricting its economic exchanges with that state? Scholars of great power politics have traditionally focused on examining a reigning power’s military containment of a challenging power. In direct contrast, Compound Containment demonstrates that these conventional studies are flawed without a sound understanding of the multilayered aspects of containment strategy in great power politics. Since economic capacity and military power are intimately linked to one another, countering a challenging power requires addressing both economic and military dimensions. Nonetheless, this nexus of security and economy in a reigning power’s response to a challenging power cannot be explained by traditional theories that dominate research in international security. Author Dong Jung Kim fills a gap in the scholarship on great power competition by investigating when a reigning power will make its military containment of a challenging power “compound” by simultaneously employing restrictive economic measures. Its main theoretical claims are corroborated by an analysis of key historical cases of reigning power-challenging power competition. This book also offers policy prescriptions for the United States by examining whether the United States is in a position to complement military containment of China with restrictive economic measures.

“A sweeping epic.… Promises to do for the war in the Pacific what Rick Atkinson did for Europe.” —James M. Scott, author of Rampage In 1937, the swath of the globe east from India to the Pacific Ocean encompassed half the world’s population. Japan’s onslaught into China that year unleashed a tidal wave of events that fundamentally transformed this region and killed about twenty-five million people. This extraordinary World War II narrative vividly portrays the battles across this entire region and links those struggles on many levels with their profound twenty-first-century legacies. In this first volume of a trilogy, award-winning historian Richard B. Frank draws on rich archival research and recently discovered documentary evidence to tell an epic story that gave birth to the world we live in now.

Based on twenty years of research in formerly secret archives, this book reveals for the first time the full significance of War Plan Orange—the U.S. Navy's strategy to defeat Japan, formulated over the forty years prior to World War II.

Japan’s decision to attack the United States in 1941 is widely regarded as irrational to the point of suicidal. How could Japan hope to survive a war with, much less defeat, an enemy possessing an invulnerable homeland and an industrial base 10 times that of Japan? The Pacific War was one that Japan was always going to lose, so how does one explain Tokyo’s decision? Did the Japanese recognize the odds against them? Did they have a concept of victory, or at least of avoiding defeat? Or did the Japanese prefer a lost war to an unacceptable peace? Dr. Jeffrey Record takes a fresh look at Japan’s decision for war, and concludes that it was dictated by Japanese pride and the threatened economic destruction of Japan by the United States. He believes that Japanese aggression in East Asia was the root cause of the Pacific War, but argues that the road to war in 1941 was built on American as well as Japanese miscalculations and that both sides suffered from cultural ignorance and racial arrogance. Record finds that the Americans underestimated the role of fear and honor in Japanese calculations and overestimated the effectiveness of economic sanctions as a deterrent to war, whereas the Japanese underestimated the cohesion and resolve of an aroused American society and overestimated their own martial prowess as a means of defeating U.S. material superiority. He believes that the failure of deterrence was mutual, and that the descent of the United States and Japan into war contains lessons of great and continuing relevance to American foreign policy and defense decision-makers.

In Deceit on the Road to War, John M. Schuessler examines how U.S. presidents have deceived the American public about fundamental decisions of war and peace. Deception has been deliberate, he suggests, as presidents have sought to shift blame for war onto others in some cases and oversell its benefits in others. Such deceit is a natural outgrowth of the democratic process, in Schuessler's view, because elected leaders have powerful incentives to maximize domestic support for war and retain considerable ability to manipulate domestic audiences. They can exploit information and propaganda advantages to frame issues in misleading ways, cherry-pick supporting evidence, suppress damaging revelations, and otherwise skew the public debate to their benefit. These tactics are particularly effective before the outbreak of war, when the information gap between leaders and the public is greatest.When resorting to deception, leaders take a calculated risk that the outcome of war will be favorable, expecting the public to adopt a forgiving attitude after victory is secured. The three cases featured in the book—Franklin Roosevelt and World War II, Lyndon Johnson and the Vietnam War, and George W. Bush and the Iraq War—test these claims. Schuessler concludes that democracies are not as constrained in their ability to go to war as we might believe and that deception cannot be ruled out in all cases as contrary to the national interest.

The brother of radio talk-show host Rush Limbaugh argues that the Democratic Party has relinquished its control and spiritual virtue to liberal extremists, contending that the party has besmirched the president's character, undermined worthy Republican efforts, and veered away from its historical practices and roles.