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Volume 18  Number 2  •  Fall 2013
Other 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 2018   The Big Stick
    Fall 2017   American Spies
    Spring 2017   Debriefing the President
[View All (15)]

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