Some economic aspects of military expenditure in the light of the end of the cold war

There has been considerable debate over the years about the economic effects of defence spending and the burdens or benefits that military spending contributes to economic development. That debate was animated by the arms race that extended throughout the world community. It has now been revived by the opposite prospect of a substantial slow-down or even a reversal of military expenditure, which raises issues that are not in all respects the mirror image of the earlier ones.

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