The Costs of Armamentism

Ulrich Albrecht
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Ulrich Albrecht: Free University of Berlin

Journal of Peace Research, 1973, vol. 10, issue 3, 265-283

Abstract: The political economy of armamentism dates back into past centuries. Often foregone in current de bates, the old hypotheses prove to contain valuable contributions to the understanding of military expenditures in modern capitalist societies. The politico-economic approach is demonstrated as superior if compared with established normative concepts about how large the military budget should be designed. Using empirical data covering four decades, the tremendous rise in the costs of armaments is demonstrated. Each new weapon tends to cost at least twice as much as the pre ceding equipment of the same category. An inter action model between private capital, the military, and the administration is used to explore the causes for overspending under military headings. Applying theoretical evidence about the role of the state, military expenditures turn out as fulfilling vital functions in the reproduction of capitalist societies.

Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:sae:joupea:v:10:y:1973:i:3:p:265-283

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