September 1, 2001
5:01 AM
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Percent of World Military Spending.The US and its allies dwarf the rest of
the world in what it spends on defense. On the one hand I see the need to
bring overwhelming force in a conflict and I think just having it is in
itself stabilizing. But I can also see money and resources put to better
use elsewhere (e.g. healthcare, education, basic research) the effects of
which I think might even do more to affect global peace and prosperity than
any loss that may obtain from a reduced defense budget.
(other
Thoughts of the Fortnight by J. Bradford DeLong including this
draft he presented with Larry Summers! at the Fed symposium in Jackson Hole :)
posted by kliuless (36 comments total)
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posted by kliuless at 5:06 AM on September 1, 2001