The arms trade
The arms trade
In 2010 the world spent, it is estimated, 1.6 trillion dollars in armament. The United States is responsible for 43% of this, surpassing its closest rival, China, by a factor of six. According to the Congressional Research Service, only in Iraq and Afghanistan, the United States had spent 1.092 billion dollars by September 2010, and 171 billion more were requested for 2011. But a group of economists from Brown University calculates that the total disbursement of government costs was at least twice this, perhaps three times higher. With 4.8% of GDP, US arms spending is about three times higher than in other developed countries, and there is a good reason to argue that the military-industrial-congressional complex has led to bankruptcy in the United States.
According to the International Peace Research Institute in Stockholm, the three largest arms manufacturers (Lockheed Martin, BAE Systems, and Boeing) each sell between 32 and 34 billion dollars in weapons per year. Three other US companies (Northrop Gruman, General Dynamics, and Raytheon) sell more than 20 billion dollars. All have been huge beneficiaries during the past decade and the prices of their shares have risen steadily, although with some mishap when Barack Obama took the presidency. But, given the case, the Democratic administration has not restrained splendor for defense. In the words of expert Andrew Feinstein, US arms manufacturers are "the most established and powerful interest group in the country" and the Obama administration has not taken care of them.
Source: TLS, March 30, 2012.
ONLINE BANGLA SITE / 23 July 2018
In 2010 the world spent, it is estimated, 1.6 trillion dollars in armament. The United States is responsible for 43% of this, surpassing its closest rival, China, by a factor of six. According to the Congressional Research Service, only in Iraq and Afghanistan, the United States had spent 1.092 billion dollars by September 2010, and 171 billion more were requested for 2011. But a group of economists from Brown University calculates that the total disbursement of government costs was at least twice this, perhaps three times higher. With 4.8% of GDP, US arms spending is about three times higher than in other developed countries, and there is a good reason to argue that the military-industrial-congressional complex has led to bankruptcy in the United States.
According to the International Peace Research Institute in Stockholm, the three largest arms manufacturers (Lockheed Martin, BAE Systems, and Boeing) each sell between 32 and 34 billion dollars in weapons per year. Three other US companies (Northrop Gruman, General Dynamics, and Raytheon) sell more than 20 billion dollars. All have been huge beneficiaries during the past decade and the prices of their shares have risen steadily, although with some mishap when Barack Obama took the presidency. But, given the case, the Democratic administration has not restrained splendor for defense. In the words of expert Andrew Feinstein, US arms manufacturers are "the most established and powerful interest group in the country" and the Obama administration has not taken care of them.
Source: TLS, March 30, 2012.
ONLINE BANGLA SITE / 23 July 2018
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