1945

The economics of the arms trade after the cold war

With the end of the cold war, there were widespread expectations of a “peace dividend” in the form of military resources being freed for economic and, particularly, social development. According to a broad interpretation of the term, there has been a wide-ranging dividend in the enhanced degree of peace and security in the world, with correspondingly wide-ranging indirect economic benefits, for example as a result of increased interaction between the former primary adversaries.

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