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The Basic Economics of Arms Reduction

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  • Arrow Kenneth J.

    (Stanford University)

Abstract

In this paper, Kenneth Arrow provides a general framework for analysis by economists of the forces lying behind the deescalation and escalation of military expenditures. On the basis of his long experience and leadership in the development of economic theory, he addresses the question: what are the ways suggested by such theory for estimating the economic effects of a major reduction of current arms expenditure, particularly with reference to the United States? (eds.)

Suggested Citation

  • Arrow Kenneth J., 2000. "The Basic Economics of Arms Reduction," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 6(3), pages 1-17, July.
    • Handle: RePEc:bpj:pepspp:v:6:y:2000:i:3:n:2
    DOI: 10.2202/1554-8597.1035
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    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. repec:fth:harver:1528 is not listed on IDEAS
    3. Tobin, James, 1975. "Keynesian Models of Recession and Depression," American Economic Review, American Economic Association, vol. 65(2), pages 195-202, May.
    4. Browning, Edgar K, 1976. "The Marginal Cost of Public Funds," Journal of Political Economy, University of Chicago Press, vol. 84(2), pages 283-298, April.
    5. Kenneth J. Arrow, 1988. "Presidential Address: General Economic Theory and the Emergence of Theories of Economic Development," International Economic Association Series, in: Kenneth J. Arrow (ed.), The Balance between Industry and Agriculture in Economic Development, chapter 2, pages 22-32, Palgrave Macmillan.
    6. Finn Kydland & Edward C. Prescott, 1980. "A Competitive Theory of Fluctuations and the Feasibility and Desirability of Stabilization Policy," NBER Chapters, in: Rational Expectations and Economic Policy, pages 169-198, National Bureau of Economic Research, Inc.
    7. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
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    Cited by:

    1. Raul Caruso, 2015. "Beyond deterrence and decline. Towards a general understanding of peace economics," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 123(1), pages 57-74.
    2. Raul Caruso, 2006. "A Trade Institution as a Peaceful Institution? A Contribution to Integrative Theory," Conflict Management and Peace Science, Peace Science Society (International), vol. 23(1), pages 53-72, February.
    3. Sevastianova Daria, 2009. "Impact of War on Country per Capita GDP: A Descriptive Analysis," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 15(1), pages 114-139, December.

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