Conversion Policy in the UK

Susan Willett

Cambridge Journal of Economics, 1990, vol. 14, issue 4, 469-82

Abstract: The democratization of Eastern Europe, the disintegration of the Warsaw pact, the proposed Strategic Arms Reduction Talks (START) and the Conventional Forces in Europe (CFE) agreements, are concrete evidence of the end to the Cold War. For NATO these events have precipitated an overhaul of strategic policies, resulting in major cutbacks in the defence budgets of member states. In the U.K., this has given rise to a growing debate on the economic effects of cuts in the military burden and the possible benefits to be derived from what has become popularly labelled the "peace dividend." However, the way in which resources are transformed for the military into civil use, and the interpretation of the objectives of the conversion process, lie at the centre of a controversy about the optimal use of the peace dividend. This paper provides a critical assessment of the contributions to this debate. Copyright 1990 by Oxford University Press.

Date: 1990
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