Percent of World Military Spending.
September 1, 2001 5:01 AM Subscribe
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 :)
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