Paying for the Wars of 1982

When the bills start coming in, even the winners lose

Even before the first shots were fired in the Falkland Islands or the latest round of battling broke out in Lebanon, both Argentina and Israel were staring into economic sinkholes, and Britain was desperately trying to crawl out of one. In economic terms, it was almost the worst of times for the three nations to go to war, but patriotism and nationalism persuaded all three that they had no choice. Now, with a Falklands truce still to be negotiated and peace in Lebanon as...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!