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- Title
DISCUSSION.
- Authors
Capron, William M.
- Abstract
This article discusses various articles related to economics of arms control and disarmament, published in the journal "The American Economic Review," as of May 1968. Professor Murray L. Weidenbaum summarizes in his article many of the special constraints placed by the U.S. Department of Defense on contractors, constraints which are complemented by a lavish provision of plant and equipment. Weidenbaum seems to suggest that the gradual absorption of the major aerospace firms and other major suppliers of defense hardware by the federal government, transforming them from genuine independent enterprises into extensions of the federal establishment, has been a monotonically increasing function over the past two decades or more. The central issue in the economics of arms control and disarmament concerns the value of arms. One is familiar with the vivid image of a burden laid on mankind by huge unproductive defense outlays, their cost being measured by all the peaceful goods and services foregone in pursuit of national security. Yet civilized nations assign very high priority to their security as states. The article of professor Emile Benoit, presents up-to-date national defense outlay estimates for 120 countries, his underlying research has required a valiant attempt to obtain uniform coverage and provide breakdowns by expenditure category for as many countries as possible.
- Subjects
UNITED States; AMERICAN Economic Review, The (Periodical); ARMS control; DISARMAMENT; WEIDENBAUM, Murray L., 1927-2014; BENOIT, Emile; DEFENSE industries; ECONOMICS
- Publication
American Economic Review, 1968, Vol 58, Issue 2, p438
- ISSN
0002-8282
- Publication type
Article