Military Economics: The Interaction of Power and Money

Military Economics: The Interaction of Power and Money

by R. Smith
     
 

ISBN-10: 0230228534

ISBN-13: 9780230228535

Pub. Date: 12/15/2009

Publisher: Palgrave Macmillan UK

Military power and conflict have fuelled economic growth throughout history. Money matters to the military; it is needed to finance war and the desire to acquire it is often the motive for fighting. This book examines the interaction of economics and conflict, it explains the economic concepts used, and illustrates them with a range of military examples, both

Overview

Military power and conflict have fuelled economic growth throughout history. Money matters to the military; it is needed to finance war and the desire to acquire it is often the motive for fighting. This book examines the interaction of economics and conflict, it explains the economic concepts used, and illustrates them with a range of military examples, both contemporary and historical. Among the many links explored lies the undeniable fact that fighting and finance are often both driven by the same basic human motives, fear and greed.

Military Economics draws on technical literature to provide an accessible introduction to: security, military expenditures, the arms industry, military operations and the economic consequences of defence spending. It raises current debates about the optimal size of the defence budget and examines how it is used to acquire forces, troops and weapons: the book examines how these forces are used to provide maximum military capability, and the potential to prevail in combat. Economic issues are central to the preparation for war, which involves balancing resources and commitments. By exploring the interaction between the military and economy, power and money, Ron Smith provides an insightful contribution to military planning, which becomes essential to the modern world. This book will be indispensable reading for all interested in defence economics, war studies and peace studies.

Product Details

ISBN-13:
9780230228535
Publisher:
Palgrave Macmillan UK
Publication date:
12/15/2009
Edition description:
2009
Pages:
194
Product dimensions:
5.50(w) x 8.60(h) x 0.70(d)

Table of Contents

List of Figures and Tables vii

Preface viii

1 Introduction 1

Economics 3

The military 8

Values 9

Facts 11

Theories 14

Outline 17

2 Power and Money 19

Producing security 24

Militarism 28

Economic concepts 30

Uncertainty 38

Economic-security interactions 46

3 Security: Are We Safe? 54

Individual security 56

National security 61

Global security 65

War 71

Oil 80

Arms races and arms control 84

4 Military Spending: How Much Is Enough? 88

Military budgets 89

Motives for arming 95

Economic functions of the defence budget and US military spending 99

Hard choices: UK and France 102

An arms race: India and Pakistan 107

Military prices 111

Military accounts and balance sheets 113

5 Force Acquisition I, Demand: The Biggest Bang for a Buck? 118

Labour 119

Weapons procurement 123

Technology 132

6 Force Acquisition II, Supply: Merchants of Death? 138

The arms industry: DIB or MIC? 139

The arms trade 143

7 Military Capability: How to Win? 149

Force employment 149

Morale 152

Logistics 153

Peacekeeping 155

8 Economic Choices: Swords or Plowshares? 159

Budget constraints 160

Economic effects 164

echnological spin-off 165

Economic warfare 168

9 Understanding Military Economics 172

Acknowledgements 179

Abbreviations 180

References 182

Index 188

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