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Power and Money

In: Military Economics

Author

Listed:
  • Ron Smith

Abstract

This chapter reviews the overlap between the economic and strategic spheres, introduces some economic concepts and illustrates how they can be used to illuminate military issues. Military and economic calculations involve inherent uncertainty so it discusses how to analyse uncertainty. Finally, it considers some examples of economic-security interactions.

Suggested Citation

  • Ron Smith, 2009. "Power and Money," Palgrave Macmillan Books, in: Military Economics, chapter 2, pages 19-53, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24467-2_2
    DOI: 10.1057/9780230244672_2
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Peter E. Robertson, 2019. "International Comparisons of Real Military Purchasing Power: A Global Database," Economics Discussion / Working Papers 19-13, The University of Western Australia, Department of Economics.
    2. Julien Malizard, 2014. "Dépenses militaires et croissance économique dans un contexte non linéaire. Le cas français," Revue économique, Presses de Sciences-Po, vol. 65(3), pages 601-618.
    3. Bove, Vincenzo & Efthyvoulou, Georgios & Navas, Antonio, 2017. "Political cycles in public expenditure: butter vs guns," Journal of Comparative Economics, Elsevier, vol. 45(3), pages 582-604.
    4. Malizard, Julien, 2015. "Does military expenditure crowd out private investment? A disaggregated perspective for the case of France," Economic Modelling, Elsevier, vol. 46(C), pages 44-52.
    5. Ron Smith, 2013. "The Economics of Defence in France and the UK," Birkbeck Working Papers in Economics and Finance 1304, Birkbeck, Department of Economics, Mathematics & Statistics.
    6. J Paul Dunne & Elisabeth Skons, 2011. "The Changing Military Industrial Complex," Working Papers 1104, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
    7. Hall Abigail R., 2015. "Drones: Public Interest, Public Choice, and the Expansion of Unmanned Aerial Vehicles," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 21(2), pages 273-300, April.
    8. S Mansoob Murshed, 2021. "Reformulating Jan Tinbergen’s normative vision on welfare and security," Journal of Peace Research, Peace Research Institute Oslo, vol. 58(5), pages 962-972, September.
    9. Steele, Brett D, 2014. "A rational calculus of war and peace: Applying the ROI objective function to military strategy," International Journal of Development and Conflict, Gokhale Institute of Politics and Economics, vol. 4(1), pages 1-34.
    10. Julien Malizard, 2013. "Opportunity Cost Of Defense: An Evaluation In The Case Of France," Defence and Peace Economics, Taylor & Francis Journals, vol. 24(3), pages 247-259, June.
    11. Julien Malizard, 2014. "Defense Spending and Unemployment in France," Defence and Peace Economics, Taylor & Francis Journals, vol. 25(6), pages 635-642, December.
    12. Harrison, Mark, 2011. "Capitalism at War," CAGE Online Working Paper Series 60, Competitive Advantage in the Global Economy (CAGE).
    13. Harrison, Mark, 2013. "The Economics of Coercion and Conflict: an Introduction," CAGE Online Working Paper Series 151, Competitive Advantage in the Global Economy (CAGE).
    14. Vincenzo Bove & Roberto Nisticò, 2014. "Coups d’état and defense spending: a counterfactual analysis," Public Choice, Springer, vol. 161(3), pages 321-344, December.
    15. Bove Vincenzo & Elia Leandro & Pelliccia Marco, 2016. "Centrality in Trade Networks and Investment in Security," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 22(1), pages 27-39, January.
    16. Peter E. Robertson & Adrian Sin, 2017. "Measuring hard power: China’s economic growth and military capacity," Defence and Peace Economics, Taylor & Francis Journals, vol. 28(1), pages 91-111, January.
    17. Vincenzo Bove & Evelina Gavrilova, 2017. "Police Officer on the Frontline or a Soldier? The Effect of Police Militarization on Crime," American Economic Journal: Economic Policy, American Economic Association, vol. 9(3), pages 1-18, August.
    18. Bove, Vincenzo & Nisticò, Roberto, 2014. "Military in politics and budgetary allocations," Journal of Comparative Economics, Elsevier, vol. 42(4), pages 1065-1078.
    19. Julien Malizard, 2016. "Military expenditure and economic growth in the European Union: Evidence from SIPRI’s extended dataset," Economics of Peace and Security Journal, EPS Publishing, vol. 11(2), pages 38-44, October.
    20. Brauer, Jurgen & Caruso, Raul, 2011. "Peace economists and peace economics," MPRA Paper 34927, University Library of Munich, Germany.
    21. Juha-Matti Lehtonen & Jukka Anteroinen, 2016. "The Capability Factors as Explanatory Variables of Equipment Unit Cost Growth: A Methodological Proposal," Defence and Peace Economics, Taylor & Francis Journals, vol. 27(2), pages 280-298, April.
    22. Peter E. Robertson, 2022. "The Real Military Balance: International Comparisons of Defense Spending," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 68(3), pages 797-818, September.
    23. Bove Vincenzo & Gleditsch Kristian Skrede, 2011. "2010 Lewis Fry Richardson Lifetime Achievement Award: Ron P. Smith and the Economics of War and Peace," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 17(1), pages 1-12, December.
    24. Stefan Markowski & Satish Chand & Robert Wylie, 2017. "Conducting Comparative Research into Defence Capability Formation," Applied Economics and Finance, Redfame publishing, vol. 4(6), pages 91-106, November.
    25. Pieroni, Luca & Lorusso, Marco, 2013. "The Role of Fiscal Policy Components in Private Consumption: a Re-examination of the Effects of Military and Civilian Spending," MPRA Paper 47878, University Library of Munich, Germany.

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