Is America building a purely military economy?
Floyd Norris' article points out that durable-goods shipments -- a basic measure of industrial production -- "fell by more than 20 percent during this recession, and would have declined further were it not for increased production of weapons."
The use of the military-industrial complex as a quick, if dubious, way of jump-starting the economy is nothing new, but what is amazing is the divergence between the military economy and the civilian economy, as shown by this New York Times chart.
In the past nine years, non-industrial production in the US has declined by some 19 percent. It took about four years for manufacturing to return to levels seen before the 2001 recession -- and all those gains were wiped out in the current recession. More
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