Search results

The recent recession has seen something of a resurgence in the debate over military Keynesianism. Recent commentators, who should know better, have claimed that it would make sense to stimulate the U.S. economy through increases in military spending, as though this has not been a commonly contested view over the last 40 years. A large, literature has debated the economic effects of military spending, and while it has reached no consensus, there is also little support for any belief that military spending is a good way of stimulating the economy. This paper makes a contribution to the debate by assessing the theoretical perspectives and the empirical approaches used. It then undertakes an analysis of the United States using a number of approaches, and the results suggest that the simple military Keynesian arguments still lack empirical support.

DURING the past 40‐odd years or so, a number of experimental aeroplane types have been invented, visualized, designed, constructed and even flown which, in a quite unorthodox manner, had neither behind the wing nor in front of it any sort of stabilizing and/or controlling surfaces.