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Converting Resources from Military to Non-Military Uses

Converting Resources from Military to Non-Military Uses Abstract As a proportion of gross national product, U.S. military spending has declined steadily since the mid-1980s. The end of the Cold War has given rise to calls for even more cuts in military spending. In early 1992, President George Bush proposed to reduce military spending by 3 percent per year, in real dollars, for the next five years. The Democratic leadership in the House of Representatives countered with a plan calling for substantially deeper cuts. Any substantial changes in military expenditures imply a “conversion” of physical and human resources from military to nonmilitary uses. This article will focus on some distinctive characteristics of the U.S. military sector and on some adjustment costs that reduced military spending are likely to impose on military industries, occupations, regions, and communities. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Perspectives American Economic Association

Converting Resources from Military to Non-Military Uses

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References (7)

Publisher
American Economic Association
Copyright
Copyright © 1992 by the American Economic Association
Subject
Articles
ISSN
0895-3309
DOI
10.1257/jep.6.4.145
Publisher site
See Article on Publisher Site

Abstract

Abstract As a proportion of gross national product, U.S. military spending has declined steadily since the mid-1980s. The end of the Cold War has given rise to calls for even more cuts in military spending. In early 1992, President George Bush proposed to reduce military spending by 3 percent per year, in real dollars, for the next five years. The Democratic leadership in the House of Representatives countered with a plan calling for substantially deeper cuts. Any substantial changes in military expenditures imply a “conversion” of physical and human resources from military to nonmilitary uses. This article will focus on some distinctive characteristics of the U.S. military sector and on some adjustment costs that reduced military spending are likely to impose on military industries, occupations, regions, and communities.

Journal

Journal of Economic PerspectivesAmerican Economic Association

Published: Nov 1, 1992

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