Heterodox Economics of Military Spending (Routledge Frontiers of Political Economy)

Covering Institutionalist, Post-Keynesian, Marxist, and Feminist perspectives, Heterodox Economics of Military Spending provides a comprehensive analysis of the effect of military expenditures on the economy. The impact of military spending on economic growth has always been a crucial issue for policymakers and academics. There exists an extensive body of literature on how military spending affects macroeconomic variables, including but not limited to economic growth, profit rates, income inequality, gender inequality, and employment. Different schools of economic thought have proposed various theoretical approaches to investigate the role of military production in a capitalist economy. While some of these approaches are competitive, others complement each other. Heterodox Economics of Military Spending is the first book to analyze the effects of military spending on various macroeconomic perspectives by considering all major alternative economic schools. This book also contributes to the literature by introducing new theoretical models and empirical evidence, with a special focus on its impact on economic growth. This book will be of great interest to readers in defense and peace economics, the history of economic thought, Marxist economic theory, feminist economics, and pluralist approaches to economics.