These are great points, thank you for pointing them out. I think I agree with your overall take - the analysis is not finished with Kennedy's framework, rather it's a good place to start. We can then go into more detail on each trade-off - analyzing why Japan gets to an investment rate of 45% whereas the Soviet Union only to 30%, say.
On your specific points:
1. Good point - although I think this can only be taken so far. The Entente powers spent less on the military but had slightly higher overall economic output, and that's why they had an advantage.... (read more)
Maybe military spending has a variable 'rate of return' just like investment? That would allow the Prussian army to get more bang for its buck, which fits my impression of what happened.
These are great points, thank you for pointing them out. I think I agree with your overall take - the analysis is not finished with Kennedy's framework, rather it's a good place to start. We can then go into more detail on each trade-off - analyzing why Japan gets to an investment rate of 45% whereas the Soviet Union only to 30%, say.
On your specific points:
1. Good point - although I think this can only be taken so far. The Entente powers spent less on the military but had slightly higher overall economic output, and that's why they had an advantage.... (read more)