Robert Pollin has drawn a very convincing analysis regarding the reality behind the claimed benefits of military spending. Military spending is frequently campaigned for because of the benefits that it creates in terms of high-paying employment. For example this paper discusses the perspectives of Martin Feldstien who suggests this spending as a possible solution to the recession.
However the reality is that compromising on other sectors to spend on the military can have negative social impacts because of neglect of health and education. Also other articles have been unable to show that military spending is more beneficial then spending on other sectors. This is why I feel Robert Pollin has raised a very valid issue and assuming that his model is sufficiently accurate has provided sufficient evidence to support his claim.
The economic concept which supports military spending is that of ‘Military Keynesianism’. Basically this theory developed by a British economist suggest that instead of the traditional Keynesian model in which the government increases spending in other sectors of the economy the government should increase spending on the military to stimulate growth.
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