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POLI 354 (26)

Paul Mattick, “Economics of the War Economy” (1959)

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McGill University
Political Science
POLI 354
Mark Brawley

Paul Mattick Economics of the War Economy 1959Underlying assumption Defense spending has historically been associated with a fully functioning and healthy national economy Even if it is not a necessity for a healthy economy to have high defense spending it is not an accident take note of correlation between wartime economies and full employmentDescription of the System Military spending has always been a large part of the US economy even in times of budget criticisms and calls for decreased spending defense spending does not fall Why Military expenditure provides both supply and demand simultaneously and takes part of the social product out of the marketing process Moreover business and labor demands will not oppose increased govt defense spending because it does not restrict market demand and provides a source for labor Excessive spending funded by deficit financing bonds Expanding defense spending not a choice but necessary under realist assumptions of security assurances and technology requirements Case StudyAmerica Permanent war economy accepted by Americans bc of Americas ability to maintain high
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