Sorry guys, I think you are both wrong in your assertion. You are viewing my original statement (assertion) from a perspective that seems to be saying, that in your ideal economy, much less money would be (maybe you’d use the word wasted here) spent on the military.
But ideals are one thing, reality is something else.
So try this definition of an economy. The Oxford Dictionary defines an economy as (first):
the state of a country or region in terms of the production and consumption of goods and services and the supply of money:
Using that basic definition, is or is not military spending a significant factor in the economy of the USA?
Here’s a report in the NY Times in 2012:
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U.S. Arms Sales Make Up Most of Global Market
By THOM SHANKER
Published: August 26, 2012
WASHINGTON — Weapons sales by the United States tripled in 2011 to a record high, driven by major arms sales to Persian Gulf allies concerned about Iran’s regional ambitions, according to a new study for Congress.
Multimedia
Graphic
Arming the World
Overseas weapons sales by the United States totaled $66.3 billion last year, or more than three-quarters of the global arms market, valued at $85.3 billion in 2011. Russia was a distant second, with $4.8 billion in deals.
The American weapons sales total was an “extraordinary increase” over the $21.4 billion in deals for 2010, the study found, and was the largest single-year sales total in the history of United States arms exports. The previous high was in fiscal year 2009, when American weapons sales overseas totaled nearly $31 billion.
A worldwide economic decline had suppressed arms sales over recent years. But increasing tensions with Iran drove a set of Persian Gulf nations** — Saudi Arabia, the United Arab Emirates and Oman — to purchase American weapons at record levels.
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If we attempt to define an ‘economy, at a more complex level (and modern economies are extremely complex), we finish up with something like this (from Wikipedia):
An economy is the total sum of product and service transactions of value between two agents in a region, be it individuals, organizations or states. An economy consists of the economic system, comprising the production, distribution or trade, and consumption of limited goods and services between two agents, the agents can be individuals, businesses, organizations, or governments. Transactions only occur when both parties agree to the value or price of the transacted good, commonly expressed in a certain currency.
In the past, economic activity was theorized to be bounded by natural resources, labor, and capital. This view ignores the value of technology (automation, accelerator of process, reduction of cost functions), and creativity (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions), especially that which produces intellectual property.
A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. Some cultures create more productive economies and function better than others, creating higher value, or GDP.
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Don’t you consider it significant that the three largest defense companies in the world are all American companies? They have a combined total revenue (in 2001) of $100 billion and employed 400,000 people. Who are they? They are Lockheed Martin, Northrop Grumman and Boeing , all of them powerhouses of American business. Their combined revenues accounted for 1% of the United States' $10 trillion GDP in 2001. These companies crossfeed income and technology into other US companies and originate much of the technological development that drives modern economies.
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How is it then that “war” is not good for America?
Imagine the state of the US economy if all forms of military spending stopped tomorrow?
Please note also' my other (actually a quote from elsewhere) assertion: … some have described the US economy as "militarised socialism.’’ If in this case ‘socialism’ is defined as state control and spending (a common view in the USA, it seems) then indeed, since government spending finances the military and the arms industry, the USA is a “socialist” state. (A little tongue in cheek on my part)
And please note, that I have managed to say all this without resorting to accusing anyone of “regurgitating propaganda.” All of us form our ideas from sources already in existence, whether its willingly on our part or whether its force-fed.
If you wished to argue that this money would be better spent on something that truly benefited the nation and its people, I would absolutely agree with you. But if we are merely discussing my assertion that “war is good for the American economy
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**As an aside, its rather interesting that the best customers of the USA military spending are ‘undemocratic’ Arab States , that are said to be driving the attempts to overthrow regimes unfriendly to the USA, including Syria. They are also oil-rich states that can spend big on local welfare and infrastructure. So whether their form of a better life can be duplicated in nations without such oil wealth (like Egypt) remains to be seen.