By Jurgen Brauer, Paul Dunne

Nations that spend scarce assets to import fingers from out of the country usually require fingers to 'reinvest' half or all the proceeds again into the arms-importing kingdom. those so-called 'arms exchange offsets' are for this reason proposal to reinforce family monetary improvement. yet does this method truly succeed?This ebook examines the speculation and coverage functions of palms exchange offsets and appears at greater than a dozen case stories drawn from throughout Europe, Africa, Asia, and the Americas. The chapters, in response to unique learn and released right here for the 1st time, are all written through best experts.That a powerful, lucid and cohesive quantity corresponding to this may curiosity defence economists should be taken nearly with no consideration. The publication can also be an invaluable and enlightening learn for these drawn to foreign improvement economics, army experiences and policy-makers around the globe.

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Additional info for Arms Trade and Economic Development: Theory and Policy in Offsets (Studies in Defence Economics)

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Berkeley, CA: The University of California Press. J. ) A Iternative Security: Living Without Nuclear Weapons. Boulder, CO: Westview Press. J. ) The Socio-Economics of Conversion from War to Peace. E. Sharpe. J. (2004) “Peacemaking and Peacekeeping: The Power of Economic Incentives,” forthcoming in ECAAR Review 2004. Pearl River, NY: ECAAR. Hagelin, B. ) Arms Trade and Economic Development: Theory, Policy, and Cases in Arms Trade Offsets. London: Routledge. Jameton, eds. (1993) Engineers and Economic Conversion.

Over 50 percent of the offset obligation was to be met by purchases of civilian aerospace products, including Rolls Royce engines to be used in civilian airliners. Since the civilian division of Boeing normally bought a substantial amount of aerospace products from UK suppliers anyway, there was considerable controversy as to whether the orders that Boeing wanted to count toward their offset obligation actually represented new business, or just a “creative reclassification” of business transactions that had nothing to do with the AWACS deal (Martin and Hartley, 1996, pp.

If we are interested in understanding not so much what is happening to the impersonal abstract entity called “the economy” but whether or not the real people who give a nation life are becoming materially better off, then we must move beyond focusing on the expansion of the money economy to the broader issue of economic development. In order to see more clearly how productive human activity is actually affecting material wellbeing, we must also leave behind the common fixation on money value as the arbiter of economic value, and look instead at the underlying question of how much any particular good or service contributes to that material well-being.

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