Richard Seymour, “Global military spending is now an integral part of capitalism,” 7 March 2014, Guardian
There are few surprises about the distribution of military spending: for all the current focus on China’s growing military outlays – and it is significant that they have embarked on a sequence of double-digit increases as a percentage of GDP – the United States still accounts for 40% of such expenditures. However, the distribution is not the only thing that matters; it’s the sheer scale of such investment – $1.756tn in 2012. The “peace dividend” from the end of the cold war has long since bitten the dust. Global military spending has returned to pre-1989 levels, undoubtedly a legacy of the war on terror and the returning salience of military competition in its context. In fact, by 2011 global military spending was higher than at any year since the end of the second world war. …
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