Is WW3 around the corner? Is the world becoming more peaceful? Economic historian Jari Eloranta connects patterns from World War I, the Cold War, and today’s tensions between the US, China, and Russia to show why conflict persists even in a globalised world, and what that means for ordinary people, policy makers, and investors.

Jari Eloranta is a renowned professor of economic and social history at the University of Helsinki and a leading global expert on the economic history of war, military spending, and security of supply. He is co‑editor of The Routledge Economic History of War and has published widely on how wars transform states, markets, and welfare systems. Known for making complex history accessible and relevant, he has inspired students and audiences around the world to see economics, power, and conflict through a clearer lens.

00:00 The Surprising Relationship Between War and Economies

01:51 The Reality of Modern Conflict

04:50 Historical Patterns and Predictions of War

11:58 The Evolution of Warfare Technology

18:56 The Impact of Nuclear Weapons on Warfare

33:42 Economic Outcomes of War

37:08 Potential Outcomes of Russia-Ukraine Settlement

38:06 Ukraine's Military Reality and Strategic Calculations

40:16 Historical Parallels: Finland's WWII Experience

42:08 Finland's Defense Strategy and Military Capabilities

49:06 Economic and Social Evolution of Finland

57:51 Philosophical Reflections and Personal Insights

01:05:59 BECOME A PRO PODCASTER LIKE ME!

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Jari Eloranta’s Work

Research: https://researchportal.helsinki.fi/en/persons/jari-eloranta/

Books: https://www.routledge.com/The-Routledge-Economic-History-of-War/Eloranta-Land-Kuorelahti-Fishback/p/book/9781032230252

Facebook: https://www.facebook.com/elorantaj/

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Team:

Host: Jacob Watson-Howland

Chief Editor: Chloé Breheret

Chief Automation Officer: Jack McDuff

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Jacob’s stuff:

YouTube: https://www.youtube.com/@jacobjwatsonhowland

FREE Podcast Tips (2nd Channel): https://www.youtube.com/channel/UCUp5S7ZIZtjA8PMgXJMwppA

#worldwar3 #economics #geopolitics #warhistory