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Volume 18  Number 2  •  Fall 2013
All Issues:  

The Origins of the Permanent War Economy
By Christopher J. Coyne, Thomas K. Duncan
This article appeared in the Fall 2013 issue of The Independent Review

Led astray by Marxist and Keynesian dogma, the literature on the origins of the permanent war economy has overlooked a leading cause of the elevated levels of U.S. military spending since the end of World War II: the economic rents created by the federal government’s monopoly on national defense, and the pursuit of those rents by the labor, industry, and military lobbies. Although the permanent war economy benefits powerful special interest groups, it generates a significant negative externality by diverting resources from other, private uses.

 PDFRead the Full Article (PDF, 22 pages)


Other Independent Review articles by Christopher J. Coyne
    Winter 2019   Cronyism
    Fall 2018   In the Shadows of the American Century
    Summer 2018   Introduction: Symposium on Drones
[View All (21)]

Other Independent Review articles by Thomas K. Duncan
    Fall 2014   Torpedo







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