Review by Dr. John Psarouthakis,
Executive Editor, www.BusinessThinker.com
George A. Haloulakos — CFA Charterholder, Finance Professor and Author — has written a new and distinctly different book titled CALL TO GLORY – How the Convair B-58 Hustler Helped Win the Cold War. Business Thinker readers may already be familiar with some of his published work that has been featured in this web site as well as his last book HIGH FLIGHT – Aviation as a Teaching Tool for Finance, Strategy and American Exceptionalism.
CALL TO GLORY is an economic and strategic analysis of the B-58 Hustler that reads like a time capsule out of the 1960s. This historic reappraisal of the B-58 enables the reader to view the “soaring sixties” as a decade in which the USA deployed the Hustler as an exclusive nuclear strike weapon to be used in a “massive retaliation” strategy that characterized Strategic Air Command’s posture during that era of the Cold War. George deconstructs this strategy through a Game Theory narrative [using Chess as the explanatory vehicle] that unifies both the qualitative and quantitative content of CALL TO GLORY. George writes that “Deterrence was based on the display of decisive, overwhelming force coupled with the willingness to use it.” Along this line of thought, CALL TO GLORY includes an insightful, behind-the-scenes look at the 1962 Cuban Missile Crisis that includes a detailed breakdown of the nuclear arsenals for both the USA and USSR while quantifying how the B-58 Hustler was the ultimate difference maker that resulted in a “draw” rather than all-out war.
George A. Haloulakos, CFA, is a university instructor, author and entrepreneur [DBA Spartan Research and Consulting, 1995-to date]. His published works utilize aviation as a teaching tool for Finance, Game Theory, History and Strategy.
The Convair B-58 Hustler, a pioneering aircraft that helped usher advancement in aeronautics while providing object lessons in Finance, Strategy and Game Theory makes for a compelling story. Finance explains how capital is employed to create added-value. Strategy explains how resources are mobilized to capitalize on opportunities while achieving victory. Game Theory embodies strategies and tactics in situations of conflict or competition in which participants are faced with choices of action in which they win or lose based on what others choose to do or not to do. Statistics may provide guidelines or rules of thumb but in the midst of conflict where human behavior comes into play, actions and outcomes do not necessarily conform to a statistical norm or numeric formula. The long-retired supersonic B-58 is a unique teaching tool for these disciplines made all the more interesting by its remarkable achievements during its service life from 1960-1970. In the following excerpt from my forthcoming book CALL TO GLORY, basic principles in Game Theory are demonstrated in this historic case study that are useful in evaluating two major public policy issues facing our nation today: the merits of launching a new strategic bomber and dealing with adversaries that have publicly declared their intention to destroy us.