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International Socialism, Summer 1963

 

David Breen

Arms Economy

 

From International Socialism, No.13, Summer 1963, p.36.
Transcribed & marked up by Einde O’Callaghan for ETOL.

 

The Economic Effects of Disarmament
Economist Intelligence Unit
EIU & Toronto University Press. 30s.

Although this book’s starting assumption – that disarmament might occur with other things remaining equal – would scarcely be taken seriously by readers of this journal, or by almost anyone outside the United World Trust which commissioned it, and perhaps UNESCO; and although it does not say much that can be used in analyzing the dynamics of the permanent arms economy, it is a superb account of the arms budget’s importance to the British economy at this moment. Meticulously documented, it shows the effect of arms production on employment in general and in particular industries and regions; on research; on the balance of payments; etc. It goes into, considerable detail about the aircraft, electronics, shipbuilding and marine engineering industries. It is unequalled as a handbook for socialist and unilateralist propagandists, price notwithstanding.

 
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