Military Economics: The Interaction of Power and Money

Paperback | November 15, 2011

byRon Smith

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Military power needs to be financed and economic development is often shaped by military conflict, thus the interaction of the military and economics, power and money is central to the modern world. This book provides an accessible introduction to the economics of organized force, with a wide range of historical and current examples.

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Military power needs to be financed and economic development is often shaped by military conflict, thus the interaction of the military and economics, power and money is central to the modern world. This book provides an accessible introduction to the economics of organized force, with a wide range of historical and current examples.

RON SMITH is Professor of Applied Economics at Birkbeck, UK where he teaches econometrics and statistics. He has written extensively on applied econometrics and defence economics and is on the editorial boards of Defence and Peace Economics and the Journal of Peace Research and is an Associate Fellow of the Royal United Services Insti...

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Format:PaperbackDimensions:208 pages, 8.65 × 5.59 × 0.46 inPublished:November 15, 2011Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230337171

ISBN - 13:9780230337176

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Extra Content

Table of Contents

Introduction
Economics
The Military
Values
Facts
Theories
Power and Money
Producing Security
Militarism
Economic Concepts
Uncertainty
Economic-Security Interactions
Security: Are we Safe?
Individual Security
National Security
Global Security
War
Oil
Arms Races and Arms Control
Military Spending: How Much is Enough?
Measures of Military Expenditure
Motives for Arming
Economic Functions of US Military Spending
Hard Choices: UK and France
An Arms Race: India and Pakistan
Military Prices
Military Balance Sheets
Force Acquisition I, Demand: The Biggest Bang for a Buck? Labour
Weapons Procurement
Technology
Force Acquisition II, Supply: The Merchants of Death?
The Arms Industry
Evolution of the Arms Trade
Regulation
Military Capability: How to Win?
Force Employment
Morale
Logistics
Peacekeeping
Economic Choices: Swords or Plowshares?
Budget Constraints
Economic Effects
Technological Spin-off
Economic Warfare
Understanding Military Economics
Acknowledgements, Abbreviations, References, Index

Editorial Reviews

"The mathematical and statistical language of defence and peace economics has long been incomprehensible to many students of security and the military. In Military Economics, Britain's leading defence economist resolves this with an accessible synthesis of the technical literature and provides an authoritative survey of the key interactions between military power and money. This book is essential reading for academics and practitioners interested in relationships between the military dimensions of economics and conflict."-- Professor Matt Uttley, King's College London, UK  "This outstanding book makes an original contribution to the economic analysis of the military sector. The author uses his extensive knowledge of the field to present a highly readable, non-technical and scholarly treatment of why money matters to the military. This is a classic text in applied economics."--Keith Hartley, University of York, UK  "This is an excellent and long needed book on the complex and important issues of military economics. It is comprehensive, accessible, well written and incisive, and will become an essential reference for professionals, politicians, activists, academics and students as well as the informed lay person. A real tour de force by an academic at the peak of his powers."--J Paul Dunne, Professor of Economics, The British University, Egypt and UWE, Bristol