The linkage of economic growth, income inequality, and military expenditure

Weston Brooks

MPRA Paper from University Library of Munich, Germany

Abstract: This paper explores the macroeconomic linkages between economic growth, income inequality, and military expenditure, assessing their collective impact on economic development. Drawing from a broad array of theoretical and empirical studies, the analysis synthesizes perspectives from classical economic growth models, institutional economics, and modern empirical research. The findings suggest that while economic growth has historically been associated with reductions in poverty, persistent inequalities and disproportionate military spending can hinder long-term development. The paper also highlights the role of political stability, investment, and human capital accumulation in shaping economic outcomes.

Keywords: Economic Growth; Income Inequality; Military Expenditure; Economic Development; Macroeconomics (search for similar items in EconPapers)
JEL-codes: D31 H56 O40 P16 (search for similar items in EconPapers)
Date: 2025-02-26
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:123787

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