Changing Fortunes: Armaments and the U.S. Economy

Changing Fortunes: Armaments and the U.S. Economy
Nitzan, Jonathan and Rowley, Robin and Bichler, Shimshon. (1989). Working Papers. Department of Economics. McGill University. Vol. 89. No. 8. pp. 1-27. (Article - Working Paper; English).

Full Text Available As:
Cover Image

Download (46kB) | Preview
PDF (Full Text)

Download (1MB) | Preview

Abstract or Brief Description

The present essay is the second in a series of four papers in which examine the political economy of armaments in recent decades. In this paper we focus on the ‘armament core’ of large military producers which recently emerged as a powerful bloc within the big economy of the United States. The rise of this core was heightened by a gradual shift of large civilian companies toward the armament business. We argue that the decline of large U.S.-based corporations in civilian world markets since the late 1960s was both a stimulus to and a partial consequence of the increasing involvement with better investment opportunities in government-related activity, especially military production. The increasing significance of international developments inhibits the earlier effectiveness of the U.S. government in assisting corporations based in the United States with its own military spending.



Publication Type

Article - Working Paper


armament civilian business military bias military contractors profit subsidies United States


BN State & Government
BN Industrial Organization
BN Power
BN International & Global
BN Region - North America
BN Business Enterprise
BN Macro
BN War & Peace
BN Conflict & Violence
BN Science & Technology
BN Distribution
BN Comparative
BN Space
BN Capital & Accumulation
BN Policy

Depositing User

Jonathan Nitzan

Date Deposited

11 Feb 2007

Last Modified

21 Dec 2015 20:57


Actions (login required)

View Item View Item