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Journal Article
Reduced defense purchasing: anticipating the impact on state and industry employment
Despite Iraq's invasion of Kuwait, budgetary pressures in the United States make significant cuts in defense purchasing seem inevitable. Lori L. Taylor analyzes the employment consequences of cutting billions of dollars in defense purchasing. She finds that while certain industries and areas would experience some economic difficulties, job losses would be negligible nationwide. ; Taylor estimates the near-term and long-term effects of a 10-percent cut in real defense purchasing. Using input-output analysis, she determines which industries are defense dependent and identifies the impact on ...
Journal Article
The long-run effects of a permanent change in defense purchases
In this article, Mark A. Wynne explores how a permanent reduction in defense spending might affect the average U.S. household. He finds that, in the long run, Americans will reap a peace dividend. For example, if Congress reduces annual defense spending from 6 percent of gross national product to 3 percent, in the long run private consumption as a share of GNP could rise 3 percentage points. In the short run, some businesses and households will sustain losses. Over time, however, the economy will reabsorb the resources freed by lower defense-related production and will expand production for ...
Journal Article
Defense cutbacks and the New England economy
Defense is a regrettable expenditure. Like law enforcement and insurance, defense spending may be necessary but intrinsically it does not make us feel better off in the same way as, for example, housing, transportation services, and education. Thus the reductions in East- West tensions that enable us to allocate more dollars to items that directly improve living standards should be welcome. ; Nevertheless, adjustment to a lower level of defense spending has costs. Reduced demand for defense services will cause disruptions for defense-oriented companies and their workers. Concern is especially ...
Journal Article
The effect of U.S. defense cuts on the standard of living
Journal Article
The defense buildup and state economic performance in the 1980s
Journal Article
Defense cuts foreseen