The Economics of Military Spending: A Marxist Perspective
In: Routledge Frontiers of Political Economy Ser.
Cover -- Half Title -- Series -- Title -- Copyright -- Dedication -- Contents -- List of figures -- List of tables -- Foreword -- Acknowledgements -- List of abbreviations -- 1 Introduction -- A brief history of military expenditure -- Strategic and economic motives for military expenditure -- Economic effect of military expenditure -- 2 Economic models of the military expenditure-growth nexus -- Introduction -- Economic models -- The Feder-Ram model -- Deger-Smith model -- Augmented Solow-Swann growth model -- Endogenous growth model -- New macroeconomic model -- Causality approach -- Brief literature survey -- 3 Military Keynesianism and the military-industrial complex -- Introduction -- Military Keynesianism and its effect -- John Kenneth Galbraith on the military-industrial complex -- Military-industrial complex today -- 4 Marxist crisis theories -- Introduction -- Underconsumption/stagnation theories -- Profit/wage squeeze theories -- Tendency for the rate of profit to fall -- Marx's law of the tendency for the rate of profit to fall -- A brief overview of the debates -- Issues on the measurement of the rate of profit -- Empirical literature -- 5 The effect of military expenditure on profitability in Marxist theories -- Marx and Engels on military expenditure -- Rosa Luxemburg -- Baran and Sweezy, and other underconsumptionists -- The theory of the permanent arms economy -- Debates on the role of milex on the economy -- Sweezy versus Szymanski -- Smith versus Hartley and McLean and Chester -- Gottheil versus Riddell and Cypher -- Dunne and Smith versus Pivetti -- Empirical work on the effect on the profit rate -- Conclusion -- Appendix: A circuit of capital model with a military sector -- Adding aggregate demand -- The effect of military expenditure on the realisation lag.