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permanent war economy as “sustained nonproductive use of capital and labor.” Melman goes on to observe that because this issue “is not unique to the United States” that “It is shared by all states that try to sustain permanent war economies.” Melman argues that most of the military production is unnecessary and drains the talents of highly skilled workers due to politicians attempting to create a powerful influx of jobs in their districts, and because of this, most military production is in place to create jobs instead of adding to public safety. Melman suggests that the large sum of money allocated towards unnecessary military spending would be put to better uses by maintaining or improving domestic infrastructure to have an active positive benefit to society.
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inflation can be caused by allowing unlimited credit to support the excited enthusiasm of business speculators. But in a slump governmental Loan expenditure is the only sure means of securing quickly a rising output at rising prices. That is why a war has always caused intense industrial activity. In the past orthodox finance has regarded a war as the only legitimate excuse for creating employment by governmental expenditure. You, Mr
President, having cast off such fetters, are free to engage in the interests of peace and prosperity the technique which hitherto has only been allowed to serve the purposes of war and destruction.
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Alternatively, it may opt to approve the purchase of fighter planes, warships or other military commodities throughout all the years of a given business cycle. Since the construction of large armament systems requires extensive planning and research, capitalist states generally prefer to rely on arms' purchases or other military allocations for longer-term macro-economic policymaking and regulation.
250:
As the vast amount of data regarding state promotion of arms' exports do confirm, capitalist states actively try to ensure that their armament corporations gain access to import orders from foreign states, and they do so amongst others in order to generate multiplier effects. Hence, there is a need to also differentiate between the two forms of domestic and 'externalized' military
Keynesianism.
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uses its military allocations as the principal means to drive the business cycle. In case of a secondary form of military
Keynesianism, the given allocations contribute towards generating additional demand, but not to the extent that the economy is fully, or primarily, driven by the military allocations.
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between 4 and 10 June 2014 a group of between 500 and 600 ISIL troops "were able to seize six divisions' worth of strategic weaponry, all of it US-supplied" from a force with a paper strength of 120,000 men. In considering the multiplier effect of military expenditures, the people killed and property
245:
A second differentiation that needs to be made is between primary and secondary forms of military
Keynesianism. In both cases, the state uses the multiplier mechanism in order to stimulate aggregate demand in society. But the primary form of military Keynesianism refers to a situation where the state
205:
Thus as the prime mover in the first stage of the technique of recovery I lay overwhelming emphasis on the increase of national purchasing power resulting from governmental expenditure which is financed by Loans and not by taxing present incomes. Nothing else counts in comparison with this. In a boom
249:
The third differentiation starts from the observation that modern capitalist economies do not function as closed systems but rely on foreign trade and exports as outlets for the sale of a part of their surplus. This general observation applies to the surplus generated in the military sector as well.
241:
First, there is the differentiation between the use of military spending as 'pump primer', and efforts to achieve long term multiplier effects by the given spending. A government may opt to approve the purchases of fighter planes, warships or other military commodities so as to weather a recession.
116:
Keynesianism. Specifically, military
Keynesianism can be implemented with less public interest and participation. "Social spending may well arouse public interest and participation, thus enhancing the threat of democracy; the public cares about hospitals, roads, neighborhoods, and so on, but has no
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Many economists have attempted to estimate the multiplier effect of military expenditures with mixed results. A meta-analysis of 42 primary studies with 243 estimates concluded that military expenditures tended to increase the economy in developed countries with military exports but decrease the
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would remain large, reducing the percentage of unemployed compared to the 1930s. He extended this analysis in 1950 and 1951. In 1974, this idea was expanded on by
Seymour Melman in the book “The Permanent War Economy: American Capitalism in Decline” where Melman describes the downside of having a
227:
These arguments will come from the very people who denied that the economic recovery plan created any jobs. We have a very odd economic philosophy in
Washington: It’s called weaponized Keynesianism. It is the view that the government does not create jobs when it funds the building of bridges or
101:
The most direct economic criticism of military
Keynesianism maintains that government expenditures on non-military public goods such as health care, education, mass transit, and infrastructure repair create more jobs than equivalent military expenditures.
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opinion about the choice of missiles and high-tech fighter planes." Essentially, when the public is less interested in the details of state spending, it affords the state increased discretion in how it spends money.
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destroyed are not considered. The only things that are considered are the increased weapon sales to replace those stolen and the costs associated with combatting ISIL. Those are considered as increasing the
181:. Keynesians maintain that government spending should first be used for useful purposes such as infrastructure investment, but that even non-useful spending may be helpful during recessions.
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states, in which the latter feeds the former, in a potentially unlimited spiral. The term is often used pejoratively to refer to politicians who apparently reject
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advocated that government spending could be used "in the interests of peace and prosperity" instead of "war and destruction". An example of such policies are the
201:
In 1933, John
Maynard Keynes wrote an open letter to President Franklin Roosevelt urging the new president to borrow money to be spent on public works programs.
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important research or retrains workers, but when it builds airplanes that are never going to be used in combat, that is of course economic salvation.
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are rarely if ever considered in estimating a multiplier effect. This can be a serious issue for military expenditures. For example, the
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Doesn't all the war spending stimulate the economy? And shouldn't the Bush tax cuts do the same? So why are we falling into recession?
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Macroeconomic
Consequences of Peace: American Radical Economists and the Problem of Military Keynesianism, 1938–1975
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Industrie und Nationalsozialismus. Aufzeichnungen aus dem “Mitteleuropäischen Wirtschaftstag”.
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Rich Nation, Strong Army: National Security and the Technological Transformation of Japan
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economy in less developed countries with generally higher level of political corruption.
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177:. The influence of Military Keynesianism on US economic policy choices lasted until the
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The economic disaster that is military Keynesianism: Why the US has really gone broke
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Economic policy in which governments raise military spending to boost economic growth
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had favored a rapid expansion of German industrial capacity and helped to reduce
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Max Schachtman and his Left. A Socialist Odyssey through the 'American Century',
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774:, vol. 14, no. 15, Department of Economics, Monash U., archived from
615:"Barney Frank: GOP Thinks $ 2 Billion F-22 Project Is Funded By Monopoly Money"
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Custers, Peter (2010). "Military Keynesianism today: an innovative discourse".
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278:. He argued at the time that the United States would retain the character of a
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Charles Edward Wilson, "Army Ordnance (Vol. XXVI, No. 143, March–April 1944)".
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While the idea dates back to Keynes, a similar term is often attributed to
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765:"The Effect of Military Expenditure on Growth: An Empirical Synthesis"
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Institute for Policy Studies (originally in Foreign Policy In Focus)
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The following forms of military Keynesianism may be differentiated:
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or towards commercial expansion. Nevertheless, the concentration of
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1407:
889:"After Korea What? An Economic Interpretation of U.S. Perspectives"
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634:"Edward L. Sard (1913–99), Theorist of the Permanent War Economy"
81:. This type of economy is linked to the interdependence between
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174:
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Walter S. Oakes, 1944, "Towards a Permanent Arms Economy?",
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High Tech, A Subsidiary Of Pentagon Inc. by Robert B. Reich
311:(ISIL) relies mostly on captured weapons. For example, in
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Marxist Theory after Trotsky. Selected Writings. Volume 3.
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with the Slavic nations, rather than in the production of
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The permanent war economy: American capitalism in decline
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The permanent war economy: American capitalism in decline
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The permanent war economy: American capitalism in decline
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270:(alias Frank Demby, Walter S. Oakes and T.N. Vance), a
219:, and seems to have been first used around funding the
1019:, Ph.D. Associate Professor of Political Economy, and
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of the United States, and that is assumed to be good.
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Noam Chomsky (February 1993). "The Pentagon System".
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Explaining the Crisis – A Marxist Re-Appraisal.
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108:, a critic of military Keynesianism, contends that
37:based on the position that government should raise
921:Socialist Review March 1957. Reprint Tony Cliff,
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799:"5. 2009–2015: Syria uprising and ISIL in Syria"
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112:Keynesianism offers the state advantages over
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990:Economy and class structure of German fascism
850:"2. 2004–2006: Abu Musab Al-Zarqawi Emerges"
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918:Perspectives for the permanent war economy.
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401:List of countries by military expenditures
632:van der Linden, Marcel (2 January 2018).
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53:. But where Keynes advocated increasing
1048:, Ph.D. Professor Emeritus of Economics
763:Awaworyi, Sefa; Yew, Siew Ling (2014),
594:"An Open Letter to President Roosevelt"
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1042:Military Keynesianism to the Rescue?
1029:by Christopher Preble, Ph.D. History
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406:Military budget of the United States
309:Islamic State of Iraq and the Levant
551:"The Risk of Military Keynesianism"
493:Veronique de Rugy (December 2012).
161:this theory was applied during the
97:Keynesian economics and application
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856:, Al Jazeera, 2015, archived from
854:Enemy of Enemies: The Rise of ISIL
803:Enemy of Enemies: The Rise of ISIL
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968:Penguin Books Harmondsworth 1970.
966:Western Capitalism Since the War.
826:Astore, William J. (2014-10-14),
549:Feffer, John (February 9, 2009).
1742:History of macroeconomic thought
1567:Neoclassical–Keynesian synthesis
1119:Schools of macroeconomic thought
742:. New York: Simon and Schuster.
717:. New York: Simon and Schuster.
692:. New York: Simon and Schuster.
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165:, during the presidencies of
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1160:Rational expectations theory
900:"The Permanent Arms Economy"
523:Krugman, Paul (2009-06-24).
416:Parable of the broken window
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1833:History of economic thought
1808:Military–industrial complex
1737:History of economic thought
1284:Schools of economic thought
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713:Melman, Seymour (1974).
688:Melman, Seymour (1974).
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1767:Post-autistic economics
992:London, CSE Books 1978.
942:Bookmarks London 1999.
925:Bookmarks London 2003.
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284:US military expenditure
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1002:. London: Verso, 1975.
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189:in the 1930s in the
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1843:Barney Frank
1537:Evolutionary
1469:Contemporary
1448:Neoclassical
1393:Distributist
1338:Mercantilism
1325:Early modern
1084:
1046:Robert Higgs
999:
989:
975:
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936:Chris Harman
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858:the original
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272:theoretician
260:
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217:Barney Frank
214:
211:Barney Frank
204:
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171:Harry Truman
156:
147:unemployment
141:in the arms
125:Much of the
124:
121:Nazi Germany
114:non-military
113:
109:
106:Noam Chomsky
104:
100:
71:World War II
63:Nazi Germany
30:
29:
1692:Supply-side
1615:Neo-Marxian
1428:Marginalism
1358:Late modern
1343:Physiocrats
1177:Supply-side
884:, February.
431:War economy
280:war economy
179:Vietnam War
127:Third Reich
1828:Militarism
1797:Categories
1672:Regulation
1598:Monetarism
1584:Circuitism
1532:Ecological
1500:Chartalism
1480:Behavioral
1423:Manchester
1418:Malthusian
1376:Birmingham
1333:Cameralism
1317:Modern era
1291:Pre-modern
1235:Circuitism
1208:Chartalism
1150:Monetarism
1126:Mainstream
1013:Cheap Wars
913:Tony Cliff
875:References
864:2015-11-27
836:2014-10-16
813:2015-11-27
785:2017-03-15
599:2011-08-01
573:Z Magazine
534:26 January
505:2 February
265:Trotskyist
45:. It is a
1747:Economics
1682:Stockholm
1557:Keynesian
1522:Cracovian
1471:(20th and
1460:Socialist
1443:Mutualism
1386:Ricardian
1381:Classical
1196:Heterodox
1172:Stockholm
1133:Keynesian
658:0301-7605
575:. Reason.
480:154824097
466:: 79–94.
276:arms race
223:fighter:
65:, or the
41:to boost
1823:Lobbying
1772:Degrowth
1707:Virginia
1547:Freiburg
1542:Feminist
1495:Carnegie
1485:Buddhist
1453:Lausanne
1408:Georgism
1371:Austrian
1203:Austrian
1038:magazine
882:Politics
638:Critique
592:(1933).
371:Cold War
324:See also
143:industry
110:military
1725:Related
1512:Chicago
1225:Marxian
268:Ed Sard
157:In the
149:rates.
139:capital
87:warfare
83:welfare
1603:Market
1064:by Dr.
982:
946:
929:
746:
721:
696:
656:
478:
175:NSC-68
33:is an
1579:Post-
779:(PDF)
768:(PDF)
554:(PDF)
476:S2CID
462:(4).
438:Notes
313:Mosul
233:Forms
1562:Neo-
1138:Neo-
980:ISBN
944:ISBN
927:ISBN
744:ISBN
719:ISBN
694:ISBN
654:ISSN
536:2015
507:2013
221:F-22
169:and
85:and
77:and
1574:New
1143:New
1054:by
1044:by
1015:by
646:doi
468:doi
131:war
1799::
998:,
974:,
964:,
938:,
915:,
906:.
902:,
891:,
852:,
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652:.
642:46
640:.
636:.
617:.
581:^
556:.
527:.
515:^
497:.
474:.
460:51
458:.
446:^
193:.
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752:.
727:.
702:.
660:.
648::
621:.
602:.
560:.
538:.
509:.
482:.
470::
20:)
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