Military Spending/Gross Domestic Product = Nonsense for Budget Policymaking
By Robert Higgs
This article appeared in the Summer 2008 issue of The Independent Review

Abstract

Military spending as a share of total national output is a worthless indicator for helping to determine the American public’s genuine defense needs. As a political tool for protecting Pentagon budgets from prudent cutbacks, however, it excels.



Other Independent Review articles by Robert Higgs
    Winter 2016   Ludwig von Mises and Dietrich von Hildebrand: Some Remarkable Parallels
    Fall 2015   How Big Is Government in the United States?
    Summer 2015   Gross Domestic Product—an Index of Economic Welfare or a Meaningless Metric?
[View All (52)]



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