Analysing Efficient Military Spending

William G. Shepherd
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William G. Shepherd: University of Massachusetts

Chapter 7 in The Economics of International Security, 1994, pp 51-61 from Palgrave Macmillan

Abstract: Abstract A nation’s interests consist primarily of the sum of the individual citizens’ interests. As economists since Adam Smith and Alfred Marshall have noted, people’s interests involve mainly the growth of wealth and personal welfare in the ordinary business of life. During the Cold War, US national leaders said instead that a ‘national security’ interest took precedence; this required converting much wealth into weaponry, in order to ‘defeat communism’.

Keywords: Military Force; Military Activity; Military Spending; Military Basis; Economic Surplus (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23695-4_7

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DOI: 10.1007/978-1-349-23695-4_7

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