Abstract
In contrast to the curtailment of public investment in productive infrastructure, the military has continued to grow by leaps and bounds since the Camelot days of the Kennedy administration. Today, the extent of military spending in the United States is almost incomprehensible. During the final days of the Cold War in 1990, the Military Industrial Complex was employing about 6.5 million military and civilian personnel—about one of every ten workers—in more than 135,000 factories (Mel-man and Dumas 1990). According to the conservative estimates of the Office of Management and Budget, national defense made up 26 percent of the fiscal 1990 budget.
Chapter PDF
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Copyright information
© 2002 Michael Perelman
About this chapter
Cite this chapter
Perelman, M. (2002). The Role of the Military in the Economic Decline. In: The Pathology of the U.S. Economy Revisited. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230108233_5
Download citation
DOI: https://doi.org/10.1057/9780230108233_5
Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-0-312-29317-8
Online ISBN: 978-0-230-10823-3
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)