Military spending and economic growth: A post-Keynesian model

Adem Elveren (), Ünal Töngür and Tristian Myers ()
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Tristian Myers: Fitchburg State University, U.S.

Economics of Peace and Security Journal, 2023, vol. 18, issue 2, 51-65

Abstract: One important criticism of models of military spending and growth is that they focus on the direct impact, ignoring critical indirect impacts through, for example, income distribution. This paper introduces a post-Keynesian model incorporating military spending that allows workers and capitalists to have different marginal propensities to consume. The model suggests first that civilian spending is more likely to increase the productive capacity of the economy due to higher human capital and, second, that military spending and civilian spending will have different effects on the profit share and the wage share.

Keywords: Post-Keynesian; Neo-Kaleckian growth; Joan Robinson; military expenditure; income distribution; growth (search for similar items in EconPapers)
JEL-codes: E11 H56 O40 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:epc:journl:v:18:y:2023:i:2:p:51-65

DOI: 10.15355/epsj.18.2.51

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