Abstract
One of the most important considerations which impedes the reduction of the defence budget to a level that makes sense even from a military point of view is the fear of unemployment. Even most militarists are willing to concede, if pressed, that retaining 20 000 nuclear warheads and building more attack submarines makes little sense when 1000 nuclear bombs would be sufficient to destroy civilization, and additional submarines would be of little use in the event of hostilities with Saddam Hussein, Qadhafi, Mobutu or North Korea. Yet the representative from New London or the senators from Connecticut may well feel that their political future is tied up with the fate of workers on submarines at the Electric Boat Company in Groton.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Okun, A.M., and G.L. Perry (eds) (1978), Curing Chronic Inflation (Washington, DC: Brookings), pp. xiii, 297.
Vickrey, W. (1986), ‘The Need for a Direct Anti-Inflation Program’, in D.C. Colander (ed.), Incentive-Based Incomes Policies (Cambridge, Mass.: Ballinger), pp. 27–34.
— (1986), ‘Design of a Market Anti-Inflation Program’, in Colander (1986), pp. 149–59.
— (1992), ‘Chock-Full Employment without Increased Inflation: A Proposal for Marketable Markup Warrants’, AEA Papers and Proceedings (May), pp. 341–5.
— (1992), ‘Meaningfully Defining Deficits and Debt’, AEA Papers and Proceedings (May), pp. 305–10.
Editor information
Editors and Affiliations
Copyright information
© 1994 Manas Chatterji, Henk Jager and Annemarie Rima
About this chapter
Cite this chapter
Vickrey, W. (1994). Disarmament, Unemployment, Budgets and Inflation. In: Chatterji, M., Jager, H., Rima, A. (eds) The Economics of International Security. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-23695-4_5
Download citation
DOI: https://doi.org/10.1007/978-1-349-23695-4_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-23697-8
Online ISBN: 978-1-349-23695-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)