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The Role of the Military in the Economic Decline

In: The Pathology of the U.S. Economy

Author

Listed:
  • Michael Perelman

    (California State University)

Abstract

In contrast to the curtailment of public investment in productive infrastructure, the military has continued to grow by leaps and bounds since the Camelot days of the Kennedy administration. Today, the extent of military spending in the United States today is almost incomprehensible. By 1990, the Military Industrial Complex was employing about 6.5 million military and civilian personnel — about 1 of every 10 workers — in more than 135,000 factories (Melman and Dumas 1990). According to the conservative estimates of the Office of Management and Budget, national defence made up 26 per cent of the fiscal 1990 budget.

Suggested Citation

  • Michael Perelman, 1993. "The Role of the Military in the Economic Decline," Palgrave Macmillan Books, in: The Pathology of the U.S. Economy, chapter 4, pages 93-108, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-22830-0_4
    DOI: 10.1007/978-1-349-22830-0_4
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