Adem Yavuz Elveren
June 6, 2019 Forthcoming
Reference - 248 Pages - 4 B/W Illustrations
ISBN 9781138365063 - CAT# K396711
Series: Routledge Frontiers of Political Economy
SAVE ~$21.00 on each
The Economics of Military Spending offers a comprehensive analysis of the effect of military expenditures on the economy. It is the first book to provide both a theoretical and empirical investigation of how military spending affects the profit rate, a key indicator of the health of a capitalist economy.
This volume examines the role of military spending in the economy, with special attention to its effect on the rate of profit. It presents a general discussion on the economic models of the nexus of military spending and economic growth, as well as military Keynesianism and the Military Industrial Complex. Including an account of the Marxist crisis theories, it focuses on military spending as a counteracting factor to the tendency of rate of profit to fall. Using a range of econometric methods and adopting a Marxist perspective, this book provides comprehensive evidence on the effects of military spending on the rate of profit for over thirty countries. The findings of the book shed light on the complex linkages between military spending and the profit rate by considering the role of countries in arms trade.
Offering a Marxist perspective and an emphasis on quantitative analysis, The Economics of Military Spending will be of great interest to students and scholars of defence and peace economics, as well as Marxist economics.
Foreword by Ron Smith
2. Economic Models of the Military Expenditure-Growth Nexus
3. Military Keynesianism and the Military-Industrial Complex
4. Marxist Crisis Theories
5. The Effect of Military Expenditure on Profitability in Marxist Theories
6. An Econometric Analysis of the Nexus of Military Expenditure and the Profit Rate
7. Analysis of the Nexus of Military Expenditure and Profit: Country Cases
Appendix A: Panel Studies (dependent variable is PWT Profit)
Appendix B: Time Series Analyses
Appendix C: Toda-Yamamoto Procedure Results