The Economics of Third World Military Expenditure

In the past decade defense expenditures in the developing world have risen sharply, at twice the rate of growth of per capita income. Many ask: Would money not spent on the military be used for social and economic development? The author's assumption is affirmative, but even if one has a skeptical view on this central question there is much to be learned from this careful analysis, by a British economist, of the relationship between military spending and economic development.